Economies may be smaller, but 2021 trade should top 2019
In the past couple of weeks, both the International Monetary Fund (IMF) and World Trade Organisation (WTO) have prepared forecasts that take into account the effects of the current pandemic. Both expect a sharp drop in economic activity and trade in 2020, followed by a recovery in 2021. We have taken a look at what the combination of an awful 2020 and better 2021 would mean for the overall size of economies around the world and trade levels compared to 2019.
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