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The nature of the event is a match making trade show. The purpose of the meeting is to unite Africans in Africa
with investors and entrepreneurs to discover opportunities for investment in Africa.
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Informer East Africa
In a new report from UN trade and and exports of major trading econ-
omies, January-May 2020. | UNC-
This is in line with the World Trade
Organization (WTO), which be-
development body, UNCTAD, it
TAD lieves that the decline in interna-
highlighted data showing that the
tional trade will be between 13 and
value of international trade in goods
But trade data shows that in April, 32 per cent this year.
has declined by about five per cent
the steepest decline in exports was
between January and March.
Photo by UN in poorer countries in South Asia Biggest economies lagging
even worse than the near 25 per cent and the Middle East. Based on key country indicators
Foreign direct investment could
contraction in world trade in the af- On the other hand, East Asian and such as Purchasing Manager In-
plunge by up to 40% this year and
termath of the 2008-9 financial cri- Pacific nations experienced the dices (PMI), UNCTAD noted that
fall below $1 trillion for the first
sis, from which the global economy smallest export shock – and some they “signal further deterioration
time since 2005.
has yet to recover fully. have even shown “signs of recov- of international trade in the second
ery”, according to UNCTAD’s quarter”.
Get the full analysis of #COV-
COVID-19 has severely hit markets Global Trade Update. PMI above 50, indicates an expan-
ID19’s impact on global #FDI flows
in developing and developed coun- Other key findings show that while sion of the export orders compared
in UNCTAD’s World Investment
tries alike, continuing the bad run the pandemic has caused trade in to the previous month, while any-
Report 2020. http://bit.ly/2UOq0Sb
observed in the first quarter, UNC- the automotive and energy sectors thing below 50 represents a contrac-
#UNCTADWIR
TAD said. to collapse, trade of medical prod- tion; 50 indicates no change.
ucts related to COVID-19 more
Worrying as that is, commerce is
South Asia, Middle East, worst hit, than doubled in April. By way of example, it cited poor ex-
expected to plummet further - by a
some ‘signs of recovery’. port orders in China (33.5 in April,
staggering 27 per cent - from April
20% decline through 2020 35.8 in May) the U.S (35.3 in April,
to the end of June.
Impact of COVID-19 on imports On the basis of ongoing economic 39.5 in May) and Europe (13.6 in
and exports of major trading econ- uncertainty, UNCTAD expects a de- April – an all-time low – and 31.9
Worse than 2008 crisis
omies, January-May 2020. cline of around 20 per cent for 2020. in May. UN
To put it into perspective, this is
Impact of COVID-19 on imports
24