Credit insurance: coronavirus is causing the most serious crisis in the world economy in the last 40 years

By: Trademagazin editor Date: 2020. 07. 16. 11:12

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The global economy is down 5.1 percent this year, among other things, according to Atradius’s credit insurance analysis. According to the study, global trade is down 15 percent.

The GDP of developed countries as a whole is expected to decline by 6.6 percent in 2020. In Europe, Britain’s economy is plummeting the biggest, with analysts expecting a 10.8 percent drop in GDP. In the eurozone, the decline could be 8 percent. U.S. GDP could be minus 6.1 percent and Japan could expect a 6 percent decline. However, according to the analysis, an increase of up to 6.5 percent is possible next year.