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03 June 2020 The on-line newspaper devoted to the world of transports 05:31 GMT+2

May 13, 2020

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Original news
In the second quarter, a dramatic decline in the -27% of the value of world trade

Due to the coronavirus pandemic, in the first trimester of this year this year this value has fallen by -3%

Due to the coronavirus pandemic in the first trimester of This year, the value of world trade is down by -3%, a negative trend that is likely to dramatically escalated in the following quarter in which it is expected to drop by -27%. These are the summary data forecast of a joint report of 36 organisations international trade on the evolution of global trade published today United Nations Conference on Trade and Development (UNCTAD) and the result of community cooperation international statistics and offices and statistical systems coordinated by the UN body.

According to the report, the decline in global trade accompanied by marked decreases in commodity prices, that have dropped rapidly since last December. The document specifies that the FMCPI, the consumer price index UNCTAD that measures commodity price movements exporting from developing economies, lost 1.2% of its 8.5% in February and marked a dramatic decline in january 20.4% in March. UNCTAD pointed out that the fall in prices fuels has been the main driver of the strong decline being down -33.2% in March, while minerals, minerals, metals, food and agricultural raw materials are decreased by less than -4%.

UNCTAD pointed out that contraction of more than -20% commodity prices in March represents a record high in the FMCPI's history and that, in comparison, during the financial crisis 2008's maximum monthly reduction was 18.6%. At that time - recalled UNCTAD - the decline was six months, while worrying that they remain the duration and overall strength of the current downward trend in commodity prices and trade Global. UNCTAD also pointed out that before the pandemic Covid-19 caused a free fall in trade international trade, from the end of 2019 global commodities showed modest signs of recovery.

An uncertainty that worries the Un Nations body. "Everywhere," pointed out the Secretary-General of UNCTAD, Mukhisa Kituyi - governments are driven to make decisions to allow a post-Covid-19 recovery that have long-lasting consequences Duration. Such decisions should be based on the best information and data available.' Kituyi then emphasised the importance of collecting facts and data support the response to the pandemic made by so many organisations under the coordination of UNCTAD and announced that UNCTAD will soon publish with regularity monthly estimates that will provide forecasts quarterly on global trade.

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