April 8, 2020 / 1:01 PM / 4 months ago

WTO forecasts trade plunge in 2020, rebound for 2021

BRUSSELS, April 8 (Reuters) - The World Trade Organization forecast on Wednesday a plunge of global trade in goods this year due to the COVID-19 pandemic before a likely rebound in 2021.

The WTO gave a wide range for the decline this year, of between 13% and 32%, saying there remained uncertainty about the economic impact of the unprecedented health crisis.

The Geneva-based body said that for 2021 it was forecasting a rebound of between 21% and 24%, with the outcome depending largely on the duration of the outbreak and the effectiveness of policy responses. (Reporting by Philip Blenkinsop, editing by Robin Emmott)

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