FILE PHOTO: A logo is pictured outside the World Trade Organization headquarters next to a red traffic light in Geneva, Switzerland, October 2, 2018. REUTERS/Denis Balibouse
The forecast suggested the drop would not be as steep as the 12.8% decline in goods trade during the global financial crisis in 2009, although the recovery would fall short of the 13.8% surge of 2010. The Geneva-based trade body said its estimates were subject to a high degree of uncertainty surrounding the pandemic and government responses, noting that next year’s pick-up would leave trade well below its pre-pandemic trend.
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