(MENAFN) On late Thursday, May. 6 credit rating agency Moody’s expected that global trade will keep reviving in 2021 in the shadow of coronavirus.
Moody's stated in a report that international trade is projected to expand 7-9 percent this year, after a 9 percent narrowing last year, while stressing that its volume will not hit the pre-pandemic levels ahead of the following year.
The report noted that constant inoculation distribution and policy procedures will support the economic revival, enhancing manufacturing activity and trade flows. But the hazard of new virus strains, a resurgence of infections and fresh constraints persist.
The rating agency cautioned that geopolitical conflicts, fresh sanctions and export controls, and local policy focus will complicate trade negotiations.
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