International cooperation is essential as we move forward, and the WTO is the ideal forum to resolve any outstanding trade issues stemming from the crisis," Deputy Director-General Yi Xiaozhun said. Travel goods and handbags also recorded a steep decline in April since this category includes a large proportion of luxury goods, consumption of which tends to rise and fall in line with business cycles. The contraction in GDP has been much stronger in the current recession while the fall in trade has been more moderate. Other downside risks include an uncertain outlook for fiscal policy and challenging job markets in many countries. In the third quarter, the volume of merchandise trade rose 11.6% compared with the previous quarter after falling 12.7% in the second quarter (revised up from an initially estimated decline of 14.3%). Global trade volume estimated to contract 18.5% in Q2 of 2020: WTO International trade volume shrank 3% in Q1, annual forecast close to 13% fall. GENEVA -- World merchandise trade is expected to fall by 9.2 percent in 2020, followed by a 7.2-percent rise in 2021, the World Trade Organization (WTO) said on Tuesday in its revised trade forecast. Home | About WTO | News & events | Trade topics | WTO membership | Documents & resources | External relations, Contact us | Site map | A-Z | Search, . https://www.wto.org/english/res_e/statis_e/wts2020_e/wts20_toc_e.htm Home | About WTO | News & events | Trade topics | WTO membership | Documents & resources | External relations, Contact us | Site map | A-Z | Search,
