WTO measures 'steep drop' in global trade, lowest on record

摘要

Global trade faced a "historic fall" in the second quarter of 2020, according to the World Trade Organization, though a new report also points to some indicators of recovery as the year goes on. The WTO Goods Trade Barometer measure of trade trends, clocked in at 84.5, well below the baseline of 100 and the lowest-ever rating recorded going back to 2007. The previous reading, in May, was 87.6, which itself was down significantly from 95.5 in February. "This reading - the lowest on record in data going back to 2007, and on par with the nadir of the 2008-09 financial crisis - is broadly consistent with WTO statistics issued in June, which estimated an 18.5% decline in merchandise trade in the second quarter of 2020 as compared to the same period last year," the WTO said in a statement.