The recovery in global trade is expected to slow down again during the first quarter (Q1) of 2021 after witnessing a rebound in the previous quarter, according to a report by the U.N. Conference on Trade and Development (UNCTAD).
In the upcoming months, the lower trade rebound would be attributed to the coronavirus (COVID-19) impact on the travel sector and uncertainty about the timing and magnitude of stimulus packages.
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The recovery of trade in goods is forecast to decrease by 1.5% in Q1-21 when compared to the fourth quarter (Q4) of 2020, while the trade in services would retreat by 7%.
During the last three months of 2020, global trade recovered to cut its overall drop for 2020 to around 9%.
