A better than expected recovery in a trade late last year, aided by the arrival of Covid-19 vaccines in November,
helped boost the positive trajectory, although full recovery will be uneven and could suffer setbacks due to new outbreaks, the Geneva-based trade body added.
Major government policy interventions, including Washington’s much larger-than-expected
stimulus package of US$1.9 trillion,
have also boosted household incomes and supported continued spending on all goods, including imports, the WTO said.
“In addition, many businesses and households adapted to the changing circumstances,
finding innovative ways to sustain economic activity in the face of health-related restrictions on mobility,” the WTO said in its forecast.
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