Global trade shows frail recovery in third quarter, but outlook remains uncertain

The value of world trade recorded a 5% drop in the third quarter of 2020 compared with the same period last year, marking an improvement on the 19% year-on-year plunge recorded in the second quarter. The timid recovery is expected to continue in the fourth quarter, with a preliminary forecast of -3% compared to the last quarter of 2019. But there are growing concerns about how the COVID-19 pandemic will affect economic activity in the coming months.