The United Nations Conference on Trade and Development has said that the value of global trade is set to fall by seven to nine per cent in 2020 from the previous year.
The report added that if the pandemic resurges in coming months, that could lead to a deteriorating environment for policy-makers and sudden increase in trade restrictive policies.
Meanwhile, China’s exports rebounded strongly in the third quarter after falling in the early months of the pandemic and have posted year-on-year growth rates of nearly 10 per cent.