The United Nations Conference on Trade and Development (UNCTAD) expects a Global trade value down 7-9% year-on-year in 2020 despite signs of a China-led rebound, due to a possible resurgence of Covid-19 infections in the coming months and the prospect of a deteriorating political environment, with sudden increases in restrictive trade policies.
In her Global Trade Update In its quarterly report on Wednesday (22.101.2020), the agency said preliminary data for the third quarter suggest that global growth maintained a decline of around 4.5% year-on-year, although it recovered from the second quarter when it contracted 19% year-on-year.
"Home office equipment and medical supplies sales rose in Q3, while it weakened further in the automotive and energy sectors,” UNCTAD said, adding that there was a general downward trend in the quarter, except in some East Asian economies.
According to the report, Argentina's exports fell by 7,9% year-on-year for the quarter ended September 30.
The study also details that Trade in Covid-19 related medical supplies (such as personal protective equipment, disinfection products, diagnostic tests, respirators and others) grew more than 50%, mainly benefiting citizens of the richest nations.
Since the start of the pandemic, residents of high-income countries have benefited on average by an additional $10 per month from imports of Covid-19-related products, compared with just $10 for people living in middle-income countries and just XNUMX cents for those in low-income countries.
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