Global trade set to shrink 18.5% in Q2, defying worst fears : WTO

23 June GENEVA (AFP) : Global trade is expected to drop around 18.5 percent year-on-year in the second quarter of 2020 in a coronavirus driven plunge which could have been much worse, the World Trade Organization said Tuesday.

“Initial estimates for the second quarter, when the virus and associated lockdown measures affected a large share of the global population, indicate a year-on-year drop of around 18.5 percent,” the WTO said in a statement.