Strong Fall in Global Trade Volume!

Strong decline in global trade volume. Due to the coronavirus outbreak, the global trade volume has experienced the most drastic decline of the past 10 years. The heaviest effects of the pandemic on businesses began to appear in March. Global trade suffered the most severe decline in more than 10 years in March. According to the World Trade Miner, the global trade volume decreased by 4.3 percent in March compared to the same period of 2019, suffering its strongest decline since 2009. The volume dropped 1.4 percent on a monthly basis and carried this decline to the third month. This harsh blow of the coronavirus epidemic to the global economy was only the first sign of the restrictions put in place to control the pandemic, and surveys after this period show that a deep recession is on the way. “Indicators Point to Strong Decline in the Next Months” CBP Netherlands Bureau for Economic Policy Analysis, which released the trade monitor, noted that for April, "it shows a largely negative picture and leading indicators indicate a strong decline in global trade in the coming months".