FILE PHOTO: A delegate arrives before a meeting at the World Trade Organization (WTO) in Geneva, Switzerland, October 28, 2020.
REUTERS/Denis BalibouseBRUSSELS (Reuters) - The World Trade Organization said on Friday global trade in goods had rebounded in the third quarter from COVID-19 lockdowns, but predicted a slowdown at the end of 2020.
The WTO said its goods trade barometer had risen to 100.7 points from a record low of 84.5 points in August, driven by a surge in export orders.
“The latest reading indicates a strong rebound in trade in the third quarter as lockdowns were eased, but growth is likely to slow in the fourth quarter as pent-up demand is exhausted and inventory restocking is completed,” the WTO said.
The WTO goods trade barometer is a composite of data, with indices on export orders and agricultural raw-material trade above medium-term trends, container shipping and automotive goods at trend and air freight and electronic components trade below.
Denis Balibouse BRUSSELS
World Trade Organization, REUTERS, WTO
Geneva, Switzerland, COVID, lockdowns, Europe, North America