Huge losses are expected in world trade

Coronavirus will cause 320 billion USD quarterly losses in global trade, with European tourism losing 53 billion USD, the situation could improve in the second half of the year, predicts Euler Hermes, in its news release sent to MTI on Wednesday. h2>

They said that the announced measures by governments, central banks and international organizations would be essential to recover from the shock of the epidemic in the second half of 2020.

The good news is that the Chinese economy is starting to recover just a month after the drastic epidemic measures were put in place, and by the end of April it could even recover. Elsewhere in the world, the situation may return to normal somewhat later, causing Euler Hermes to expect global trade near stagnation this year. (MTI)