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UNCTAD/PRESS/MA/2020/022
New report - Impact of the COVID-19 pandemic on trade and development: transitioning to a new normal

Geneva, Switzerland, 19 November 2020

In a new report, UNCTAD provides a comprehensive assessment of the economic impact of the sanitary crisis, projecting that the global economy will contract by 4.3% in 2020.

Inequalities and vulnerabilities will worsen as the effects of the pandemic undermine progress on poverty and other important sustainable development goals.

UNCTAD charts a roadmap for more inclusive trade and economic development, emphasizing the need to reshape global production networks.

But while there is growing confidence that an end to the health pandemic is in sight, UNCTAD warns that a viable vaccine will not halt the spread of economic damage, which will be felt long into the future, especially by the poorest and most vulnerable.

 

Journalists with access to the UNCTAD virtual newsroom may download the full text of the study as well as the press release.

Access to the virtual newsroom requires a password. To obtain one, please fill out the online form.

After the lifting of the embargo, documents related to the report will be available on the main UNCTAD website.

For further information or to request interviews with UNCTAD experts, please contact the UNCTAD Press Office (+41 22 917 5549/5166/5828, [email protected]).