By PTI May 14, 2020 9:59:08 AM IST (Updated)
The report is a product of cooperation between the international statistics community and national statistical offices and systems around the world, coordinated by UNCTAD.
The coronavirus pandemic has led to a three percent drop in global trade in the first quarter of 2020 and this downturn is expected to accelerate in the next quarter to project a whopping quarter-on-quarter decline of 27 percent, the UN trade body has warned.
The United Nations Conference on Trade and Development (UNCTAD) said in a report that the drop in global trade was accompanied by marked decreases in commodity prices, which have fallen precipitously since December last year.
The report is a product of cooperation between the international statistics community and national statistical offices and systems around the world, coordinated by UNCTAD.