(MENAFN) Late on Thursday, May. 7 credit rating agency Moody’s estimated that world trade will keep reviving in 2021 in the shadow of coronavirus.
Moody's noted in a report that world trade is projected to expand 7-9 percent this year, after a 9 percent narrowing last year, stressing that its volume will not hit the pre-pandemic levels before next year.
The report stated that continuous inoculation distribution and policy procedures will shore up the economic revival, bolstering manufacturing activity and trade flows. But the hazard of new virus strains, a resurgence of cases and fresh constraints carry on.
The rating agency cautioned that geopolitical tensions, fresh sanctions and export controls, and local policy focus will make trade negotiations difficult.
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