World trade to grow by 8 pct in 2021: WTO

World trade to grow by 8 pct in 2021: WTO

Malaysia Sun-International·2021-04-01 05:03

© Provided by Xinhua

"World merchandise trade volume is expected to increase by 8 percent in 2021 after falling 5.3 percent in 2020, a smaller decline than previously estimated," the WTO said.

The WTO figures showed that China was the world's top exporter last year, accounting for 14.7 percent of world merchandise trade, and the second-largest importer behind the United States with a share of 11.5 percent.

GENEVA, March 31 (Xinhua) -- The World Trade Organization (WTO) said Wednesday that global trade is primed for a strong but uneven recovery after the COVID-19 pandemic shock, forecasting an increase in the volume of world merchandise trade of 8 percent this year.

The global trade body said prospects for a quick recovery in world trade have improved as merchandise trade expanded more rapidly than expected in the second half of last year.

"World merchandise trade volume is expected to increase by 8 percent in 2021 after falling 5.3 percent in 2020, a smaller decline than previously estimated," the WTO said in a press release.

The WTO figures showed that China was the world's top exporter last year, accounting for 14.7 percent of world merchandise trade, and the second-largest importer behind the United States with a share of 11.5 percent.

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