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According to UK based analysts Oxford Economics, the pandemic will have a huge impact on world trade. Steep falls in industrial output will hit trade in goods hard, while the unusually service-driven nature of the emergent recession also means services trade will plummet
Global economic trends . Total world trade in goods and services could fall by 10%-15% in 2020, compared to a 10% decline in 2009 during the global financial crisis. Indicators already point to a double-digit fall in freight trade in March-April. This fits in with historical evidence that goods tr...