World Trade Organization Releases: Volume Of Global Trade In Goods Fell Month On Month In The Second Quarter

Global trade in goods fell 14.3% in the second quarter of this year compared with the first quarter, with Europe and North America falling the most, according to data released by the World Trade Organization on the 23rd.

Data show that in the second quarter, global exports of goods fell by 15%, while imports shrank by 13.6%. Over the same period, the volume of trade in goods in Europe and North America shrank the most, by 21% and 20% respectively; Asia was less affected, with a decline of 7%.

Over the same period, Global trade in goods in US dollars fell 21% year-on-year. Specifically, in May, the global trade volume fell the largest, falling by 26%; in June, as some European countries relaxed the blockade measures, the trade of some Asian economies rebounded slightly, and the global trade volume of goods shrank to 10%.

Compared with trade in goods, Global trade in services has shrunk even more. According to the trade data of 38 economies accounting for more than two thirds of Global trade in services, the preliminary results show that in April and may this year, the volume of Global trade in services dropped by nearly 30% year on year. In addition, North America's exports of service trade fell by 30% in July. However, it is worth noting that China's export of service trade stopped falling and rebounded.

In April, the WTO predicted that global trade could shrink by 13% to 32% this year, and its final performance would depend on the duration of the epidemic and the effectiveness of anti epidemic measures.