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COVID-19 has sent shockwaves through global maritime transport and laid the foundations for a transformed industry and associated supply chains.

COVID-19 hit world trade after an already weak 2019, in which global maritime trade lost further momentum as trade tensions continued to bite.

UNCTAD expects maritime trade growth to return to a positive territory and expand by 4.8% in 2021, assuming world economic output recovers.

UNCTAD estimates show a 5% drop in world trade in Q3 2020 compared to 2019, an improvement from the 19% decline in Q2 but insufficient to pull trade out of the red.

UNCTAD forecasts a 7% to 9% year-on-year drop in the value of global trade for 2020, despite signs of a rebound in the third quarter.

FDI to developing economies in Asia, hit hard by the economic downturn caused by the pandemic, are projected to decline by up to 45% in 2020.