Over 1 million pilgrims benefit from golf cart service at Grand Mosque during Ramadan    Visitors welcomed with Eid initiative at Thee Ain Heritage Village in Al-Baha    Tebuk emir reviews rain response in Tayma    Saudi Arabia considers rent cap as part of major real estate reforms    Messi's bodyguard banned from touchline at Inter Miami games    Screen time in bed linked to insomnia, study finds    Le Pen vows to appeal political ban, calls verdict a 'denial of democracy'    Death toll from Myanmar earthquake rises to 2,719 as rescue efforts continue    Russia, Ukraine trade blame over new energy strikes    Putin orders Russia's largest military call-up in over a decade    Albania hosts MWL chief for Eid sermon at largest mosque in the Balkans    Haramain High-Speed Railway transports over 1.2 million passengers during Ramadan    Saudi Transport Authority says passengers can ride for free if taxi meters are off    Ministry of Education forms 425 community partnerships with SR653 million impact    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    T1 CEO confirms Gumayusi's return for LCK Spring after lineup shakeup    100 Thieves claim Marvel Rivals Invitational NA crown as 2025 scene heats up    Bollywood actress vindicated over boyfriend's death after media hounding    Saudi Arabia hold Japan to goalless draw in Saitama to stay in World Cup hunt    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



East Asian countries led economic recovery in last quarter of 2020, says UN report
Published in The Saudi Gazette on 10 - 02 - 2021

Without the resilience of the economies of East Asia and the Pacific, there would have been no global trade recovery at the end of last year, UN analysts said on Wednesday.
"The recovery process has been uneven, with many countries lagging," said UNCTAD economist Alessandro Nicita.
According to a new report from the agency, exports from East Asia grew about 12 percent in the last quarter of 2020, while imports increased by around five percent.
These results followed growth of around three percent in Chinese exports in the third quarter of the year compared with the same period in 2019, which was "the exception" to an overall downturn in nearly all major economies.
Negative trends the norm
In contrast to the market share gains for China and East Asian economies, most other regions saw continuing "negative trends", UNCTAD said in its latest Global Trade Update.
These included Brazil — whose fourth quarter 2020 goods and services exports were down four percent and 17 percent respectively — Russia (19 percent, 34 percent), India (five percent, eight percent) and the United States (five percent, 26 percent).
By contrast, China saw a 17 percent boost to exports in goods and a two percent increase in services exports. South Africa also saw a 15 percent rise in goods shipped abroad (with a 64 percent drop in services exports) while both Japan and the European Union saw a three percent increase in goods exports (and a 20 percent and 14 percent drop in services exports, respectively).
Generally, trade among countries in the Global South remained "well below average", except for East Asian economies, UNCTAD said.
Energy and transport trailing
The UN analysts also noted that although most manufacturing sectors recorded positive trade growth in the last quarter of 2020, the main exceptions were the energy and transport sectors, linked to travel restrictions.
Dropping values
In terms of the global trade values, COVID-19 caused a drop of about nine percent in 2020, UNCTAD found, with goods commerce down by about six percent and services tumbling more than 16 percent.
The UN agency explained that trade began to rebound in the third and particularly the fourth quarter of 2020, albeit not in services, which stagnated at the level they reached at the end of the third quarter.
Tentative projections for 2021 indicate a slowing recovery in goods exports (1.5 down on the last quarter of 2020) and a further decline in services (of a full seven percent compared with the last quarter of 2020), largely because of continued disruptions in the travel sector. — UN News


Clic here to read the story from its source.