Recently, the World Trade Organization (WTO) released the latest global trade trend assessment report "Barometer of Trade in Goods" and pointed out that in the second quarter of 2020, global trade in goods has experienced a historical decline, but other indicators show that global goods in the third quarter Trade and output will partially rise, and global trade is showing signs of recovery, but the strength and trend of the recovery are still highly uncertain.
The latest global "Goods Trade Barometer" reading is 84.5, which is 15.5 points lower than the benchmark value of 100 and 18.6 points lower than the same period last year. This is the lowest data since 2007, and is comparable to the bottom of the 2008 international financial crisis. This reading is also comparable to the statistics released by the WTO in June this year predicting that trade in goods in the second quarter of 2020 will drop by 18.5% over the same period last year.
Commercial flights are closely related to trade in goods and services and are an important indicator of global economic conditions. From the end of February to mid-April this year, global flights decreased by nearly 80%, of which the decline of international flights was greater than that of domestic flights. As of the end of July, the total number of flights has gradually recovered, but it is still about 40% lower than the beginning of this year.