World Trade Organisation: global trade to plunge 13-32% in 2020 due to coronavirus

The World Trade Organisation (WTO) projected on Wednesday a plunge between 13 percent and 32 percent in the size of global trade in goods this year due to the coronavirus pandemic.

There still remained uncertainty about the economic impact of the unprecedented health crisis, the WTO added in a news briefing in Geneva.

However, the Geneva-based body said the trade would see a likely rebound in 2021. It said it was forecasting a rebound of between 21 percent and 24 percent, with the outcome depending largely on the duration of the outbreak and the effectiveness of policy responses.