News / Global trade recovery may have already peaked, suggests WTO

© Andrii Yalanskyi

Although global trade fared better in 2020 than expected, the World Trade Organisation (WTO) reckons the recovery has peaked, and sees headwinds for this year.

The WTO’s latest Goods Trade Barometer, published in late February, indicates that the decline in global trade volume last year was less pronounced than the 9.2% drop it predicted earlier, thanks to a strong performance in the third and fourth quarters.

However, its authors are less sanguine on the outlook for this year: “The outlook for merchandise trade ...