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Global trade will continue to recover

Time:2021-04-12 Publisher:Kevin Num:4704

WTO have published a report that last year the performance of global trade was better than expectation.It predicts the global trade amount will increase 8% and 4% respectively.

According to the annual report from WTO.North America will become the main region of global cargo need because of the policy.

At the same time,The quantity of cargo exported will increase by8.4% in Asian region .It will become one of the fastest regions.

The report show that because of covid-19,the quantity of global cargo reduce 5.3%.

WTO asssumed that China and another community of Asian controlled the covid-19 effectively,also they stopped economic depression.It will reanimate the requirement of global trade and avoid the serious recession.

Specifically, in 2020, Asia will become the only region where the export volume of cargos trade will maintain a positive growth 0.3%.while China might become the world's largest exporter and the second largest importer after the United States,

The WTO warned that although the short-term prospects of Global trade are more positive, the differences among many countries will increase the uncertainty of Global trade prospects.And the future development of the epidemic will still pose the greatest threat to trade recovery.

WTO director general okonjo iweala said that keeping the international market open is crucial for economies to recover from the crisis.

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