Covid effects on freight could be long-term, says WTO

The increase in air freight prices during the Covid pandemic is likely to subside only with a rebound in passenger transport, according to an information note published by the World Trade Organisation (WTO). In the report on the pandemic’s impact on key components of trade costs, it warns that higher costs may persist even after it is contained. It argues that aviation industry consolidation and shifts in passenger appetite for travel ... [+]

World trade fall ‘could have been worse’ says WTO

World trade fell sharply in the first half of the year, as the COVID-19 pandemic upended the global economy, according to the World Trade Organisation (WTO) but rapid government responses helped temper the contraction. WTO economists now believe that while trade volumes will register a steep decline in 2020, they ... [+]

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