Estimates from the UN Conference on Trade and Development (UNCTAD) show a 5% decrease in global trade in the third quarter of 2020 compared to 2019, reflecting an improvement over the second 19% decrease in the second quarter of 2020. quarter, but not enough to get trade out of the crisis, according to a UNCTAD report. Depending on the evolution of the COVID-19 pandemic in the winter months, UNCTAD expects a global trade contraction between 7% and 9%, compared to 2019. According to UNCTAD Secretary-General Mukhisa Kituyi, the uncertain course of the pandemic will continue to deteriorate trade in the coming months.
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