UN expects world trade to decline by 27 percent

The value of global trade was expected to fall 26.9 percent in the second quarter compared to the first three months of the year, reported by UNCTAD, the United Nations Conference on Trade and Development.

The corona pandemic and measures against the spread of the virus are the culprits. In the first quarter of 2020, according to UNCTAD, there was a 3% decrease compared to the final quarter of 2019.