Worldwide trade is expected to fall by 14.5 per cent in 2020 and following that trend, trade in the region could contract by  around 1.9 per cent, estimates from the UN Economic and Social Commission for Asia and the Pacific (ESCAP) suggest

The rest of the world, however, fared worse, and as a result, the region’s share in global merchandise export and import is expected to rise to an all-time high in 2020, to 41.8 per cent and 38.2 per cent respectively, up from 39.9 per cent and 36.9 per cent a year earlier. 

Resilience is key 

The UN body also cautioned that the path towards a full trade recovery remains “highly uncertain”, with unfavourable macroeconomic conditions in many economies along with high unemployment, debt and deflation,

Read More At Article Source | Article Attribution