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The ongoing disruption in the tourism industry, courtesy of the coronavirus pandemic, is likely to slow down the recovery in global trade in the first quarter of 2021, the United Nations Conference on Trade and Development (UNCTAD) said in its latest report released on Wednesday.

Key takeaways (via Reuters)

“After lockdowns caused trade to shrink 15% in the first half of 2020, it rebounded in the second half, with global trade in goods up about 8% in the fourth quarter compared with the third.”

“East Asian economies have been leading the recovery process with strong export growth and gains in global market share.”

“The most manufacturing sectors rebounded in the fourth quarter, apart from energy and transport.”