Global trade to decline 27% on-quarter in Q2 due to COVID-19 pandemic: UN report
Arirang News
2020-06-12
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유엔 "2분기 국제무역, 코로나19에 전분기 대비 27% 급감"
The UN predicts a quarter-on-quarter international trade decline of 27 percent in the second quarter due to the COVID-19 pandemic.
In a report released Thursday,... the UN Conference on Trade and Development said this is an accelerated drop from the previous quarter which saw a 5 percent decrease.
Meanwhile, the GDP of the world's twenty largest economies fell by 3-point-4 percent in the first three months of the year,... the largest contraction since related data were first compiled in 1998.
According to the OECD,... this is comparable to the 1-point-5 percent drop in the GDP of G20 nations in the first quarter of 2009,... at the height of the global financial crisis.
The UN predicts a quarter-on-quarter international trade decline of 27 percent in the second quarter due to the COVID-19 pandemic.
In a report released Thursday,... the UN Conference on Trade and Development said this is an accelerated drop from the previous quarter which saw a 5 percent decrease.
Meanwhile, the GDP of the world's twenty largest economies fell by 3-point-4 percent in the first three months of the year,... the largest contraction since related data were first compiled in 1998.
According to the OECD,... this is comparable to the 1-point-5 percent drop in the GDP of G20 nations in the first quarter of 2009,... at the height of the global financial crisis.
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