The World Trade Organization has issued its revised 2020 trade forecast, predicting a 9.2% drop in world merchandise trade this year, but rebounding by 7.2% next year. The new figures suggest a lower drop in the merchandise trade but a longer recovery for trade in 2021 compared to the WTO's April prediction in which it predicted the world merchandise trade would decline 12.9% in 2020 but grow 21.3% in 2021. The WTO says it will be very difficult for trade to return to pre-COVID-19 pandemic levels and the future recovery is filled with variables.

Resource: https://www.wto.org/english/news_e/pres20_e/pr862_e.htm