CANADIAN MEDIA
  • Home Page
  • World News
    • Africa
    • Asia
  • Law
    • Investigative Law
    • National Law/Justice
    • Global Law & Crime prevention
  • Politics
    • Global Politics
    • US Politics
    • National Politics >
      • Alberta
      • British Columbia
      • Quebec
      • Calgary
      • Edmonton
      • Manitoba
      • Ontario
      • Saskatchevan
  • Business
    • Developing countries
    • Global Business >
      • Global Economic Development
    • National Business >
      • Alberta
      • British Columbia
      • Manitoba
  • Health
    • National Health >
      • Alberta
      • British Columbia
      • Manitoba
      • New Brunswick
      • Newfoundland & Labrador
      • North West Territories
      • Nova Scotia
      • Nunavut
      • Ontario
      • Prince Edward Island
      • Quebec
      • Saskatchevan
      • Yukon
    • Global Health
  • Life
    • Arts/Architecture/Archeology
    • Book/Arthur/Movie Reviews
    • Canada-India News
    • Celebration/Observance/Recognition >
      • Global Celebration/Observances/Recognitions
      • National Celebration/Observance/Recognitions
    • Education/Culture/Festivals
    • Entertainment >
      • Intern'l Entertainment/Hollywood
      • NationalEntertainment
      • Entertainment-TIFF
      • Entertainment/Regional/Bollywood Films
    • Food/Nutrition/Agriculture
    • Interviews
    • Libraries/Museums/Archives >
      • Global Libraries/Museums/Archives
      • National Libraries/Museums/Archives >
        • Nat'l Museums PhotoStories
    • Media
    • Sports
    • Travel/Tourism
    • World Cinema
  • Earth
    • Animal issues
    • Astronomy >
      • ESA Photo Stories
      • NASA Photo Stories
      • NASA Videos
    • Biodiversity/Wild Life/Ecosystem
    • Earth Scie/Biotech/Archaeology/Agriculture
    • Environment/Climate Change/Forests
    • Fisheries & Oceans
    • Sci & Res
    • Technology & Innovation
  • Humanitarian
    • Domestic/Sexual Violence
    • FAO of UN
    • First Nations
    • Gender issues >
      • National Gender Issues
      • Global Gender Issues
    • Human Rights/Child rights
    • Human Trafficking
    • Humanitarian Aid
    • Immigration/Refugees/Citizens
    • Floods/Fire/NaturalDisasters/Accidents/Deaths
    • Peace/Security/Gun Violence >
      • Global Peace/Security/Gun Violenece
      • National Peace/Security/Gun Violence
    • Pride Toronto
    • Racial diversity
    • SDGs
    • UN Affairs
    • Women rights
  • Multimedia
    • ILO Videos
    • Lib of Congress Videos
    • News in photos
    • UN Photo Stories
    • UN videos
    • UNHCR Videos
    • Videos
    • WHO Videos
  • NASA Photo Stories

Trade in many developing countries projected to ‘nosedive’, warns UNCTAD

6/17/2020

0 Comments

 
#UN; #GlobalBusiness; #Covid19Impact; #DevelopingCountries

Geneva, Jun 17 (Canadian-Media): Trade in many developing countries is expected to take a “nosedive” in the second quarter of 2020, owing to the unprecedented effects of the coronavirus pandemic, UN economists said on Tuesday, UN reports said.
Picture
Many container ports, like this one in New York City, have seen a decline in activity as a result of the coronavirus pandemic. Image credit: UN News/Daniel Dickinson
In a new report from UN trade and development body, UNCTAD, it highlighted data showing that the value of international trade in goods has declined by about five per cent between January and March.
​
Worrying as that is, commerce is expected to plummet further - by a staggering 27 per cent - from April to the end of June.

Worse than 2008 crisis

To put it into perspective, this is even worse than the near 25 per cent contraction in world trade in the aftermath of the 2008-9 financial crisis, from which the global economy has yet to recover fully.

COVID-19 has severely hit markets in developing and developed countries alike, continuing the bad run observed in the first quarter, UNCTAD said.

South Asia, Middle East, worst hit, some ‘signs of recovery

Impact of COVID-19 on imports and exports of major trading economies, January-May 2020.

But trade data shows that in April, the steepest decline in exports was in poorer countries in South Asia and the Middle East.

On the other hand, East Asian and Pacific nations experienced the smallest export shock – and some have even shown “signs of recovery”, according to UNCTAD’s Global Trade Update.

Other key findings show that while the pandemic has caused trade in the automotive and energy sectors to collapse, trade of medical products related to COVID-19 more than doubled in April.

20% decline through 2020

On the basis of ongoing economic uncertainty, UNCTAD expects a decline of around 20 per cent for 2020.

This is in line with the World Trade Organization (WTO), which believes that the decline in international trade will be between 13 and 32 per cent this year.

Biggest economies lagging

Based on key country indicators such as Purchasing Manager Indices (PMI), UNCTAD noted that they “signal further deterioration of international trade in the second quarter”.

PMI above 50, indicates an expansion of the export orders compared to the previous month, while anything below 50 represents a contraction; 50 indicates no change.
​
By way of example, it cited poor export orders in China (33.5 in April, 35.8 in May) the U.S (35.3 in April, 39.5 in May) and Europe (13.6 in April – an all-time low – and 31.9 in May.
0 Comments



Leave a Reply.

    RSS Feed

    Global Business

    All

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    February 2019
    December 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    November 2017
    October 2017

  • Home Page
  • World News
    • Africa
    • Asia
  • Law
    • Investigative Law
    • National Law/Justice
    • Global Law & Crime prevention
  • Politics
    • Global Politics
    • US Politics
    • National Politics >
      • Alberta
      • British Columbia
      • Quebec
      • Calgary
      • Edmonton
      • Manitoba
      • Ontario
      • Saskatchevan
  • Business
    • Developing countries
    • Global Business >
      • Global Economic Development
    • National Business >
      • Alberta
      • British Columbia
      • Manitoba
  • Health
    • National Health >
      • Alberta
      • British Columbia
      • Manitoba
      • New Brunswick
      • Newfoundland & Labrador
      • North West Territories
      • Nova Scotia
      • Nunavut
      • Ontario
      • Prince Edward Island
      • Quebec
      • Saskatchevan
      • Yukon
    • Global Health
  • Life
    • Arts/Architecture/Archeology
    • Book/Arthur/Movie Reviews
    • Canada-India News
    • Celebration/Observance/Recognition >
      • Global Celebration/Observances/Recognitions
      • National Celebration/Observance/Recognitions
    • Education/Culture/Festivals
    • Entertainment >
      • Intern'l Entertainment/Hollywood
      • NationalEntertainment
      • Entertainment-TIFF
      • Entertainment/Regional/Bollywood Films
    • Food/Nutrition/Agriculture
    • Interviews
    • Libraries/Museums/Archives >
      • Global Libraries/Museums/Archives
      • National Libraries/Museums/Archives >
        • Nat'l Museums PhotoStories
    • Media
    • Sports
    • Travel/Tourism
    • World Cinema
  • Earth
    • Animal issues
    • Astronomy >
      • ESA Photo Stories
      • NASA Photo Stories
      • NASA Videos
    • Biodiversity/Wild Life/Ecosystem
    • Earth Scie/Biotech/Archaeology/Agriculture
    • Environment/Climate Change/Forests
    • Fisheries & Oceans
    • Sci & Res
    • Technology & Innovation
  • Humanitarian
    • Domestic/Sexual Violence
    • FAO of UN
    • First Nations
    • Gender issues >
      • National Gender Issues
      • Global Gender Issues
    • Human Rights/Child rights
    • Human Trafficking
    • Humanitarian Aid
    • Immigration/Refugees/Citizens
    • Floods/Fire/NaturalDisasters/Accidents/Deaths
    • Peace/Security/Gun Violence >
      • Global Peace/Security/Gun Violenece
      • National Peace/Security/Gun Violence
    • Pride Toronto
    • Racial diversity
    • SDGs
    • UN Affairs
    • Women rights
  • Multimedia
    • ILO Videos
    • Lib of Congress Videos
    • News in photos
    • UN Photo Stories
    • UN videos
    • UNHCR Videos
    • Videos
    • WHO Videos
  • NASA Photo Stories