- Merchandise trade volumes are expected to grow by 8% in 2021, according to World Trade Organization statistics.
- Production and distribution of vaccines will be key to how the world’s economy performs.
- Remote working helped to boost sectors like electronic goods.While restrictions and border closures hit travel and transport services.
Global trade is ready for a strong but uneven recovery after the shock of the pandemic, according to the World Trade Organization (WTO).
In its trade statistics and trade forecast 2021, the WTO estimates world trade in merchandise, or goods, will grow 8% in volume in 2021, after falling 5.3% in 2020.
“Ramping up production of vaccines will allow businesses and schools to reopen more quickly and help economies get back on their feet,” said WTO Director-General Ngozi Okonjo‑Iweala.