According to the updates by the United Nations Conference on Trade and Development (UNCTAD) the global trade recorded a decline of 5 per cent in third quarter of 2020 in comparison to the same period last year. But it registered a trifle recovery in September which is likely to linger on even in the fourth quarter.
Indian exports however registered a growth of over 4 per cent in September which is still a decline comparing it to the third quarter of last year but resumption of economic activities in Europe and east Asia has shown some positive trends. Despite some ‘green shoots’ we can’t rule out a slowdown in production in certain regions or sudden increases in restrictive policies,”said UNCTAD Secretary-General Mukhisa Kituyi.
Over all the Developing and developed countries both are in throes of economic slowdown alike but exports from developing economies appear to be recovering faster.UNCTAD report assessed the impact on trade of various sectors like textile, apparel , energy etc. Out of which textiles, apparel and pharmaceutical seem to be recovering due to mitigation responses by the respective ministries.
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