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The WTO reported that the service sector in the least developed countries reached an unprecedented low as it is estimated that it decreased by 40 percent from January to June.
The least developed countries are the most affected by the slowdown in economic activity caused by the COVID-19 pandemic, the World Trade Organization warns.
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The organization said that exports in these countries have decreased by 16 percent in the first half of 2020. This, as the COVID-19 pandemic, has devastated the tourism sector, a cornerstone for the economy in these nations.
Trade in agricultural products fell less than other categories in the second quarter since food is a necessity that continued to be produced and shipped even under the strictest lockdown conditions. Read about the #COVID19 impact on trade: https://t.co/NTFPBfVIPA #DataFriday pic.twitter.com/oLcMlFWtTo
— WTO (@wto) November 13, 2020
The WTO reported that the service sector in the least developed countries reached an unprecedented low as it is estimated that it decreased by 40 percent from January to June. Likewise, travels exports are estimated to have dropped by nearly 60 percent.
Conversely, the organization notices that agriculture has been the least affected economic activity in the least developed countries. This sector is estimated to have dropped only one percent in the first half of the year.
#Venezuela | President @NicolasMaduro announced the discovery of a high-effective treatment capable of eliminating COVID-19 and pointed out that a drug will be presented to the WHO for certification.https://t.co/W8G05xZHPK
— teleSUR English (@telesurenglish) October 26, 2020
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