Global maritime trade will plunge by 4.1% in 2020 because of the Covid-19 pandemic, the United Nations’ trade body estimates.
The UN Conference on Trade and Development (Unctad) believes further waves of infections could cause an even steeper decline.
The virus has sent shockwaves through supply chains, shipping networks and ports, leading to plummeting cargo volumes and falling growth prospects, the agency said in its Review of Maritime Transport 2020.
