HONG KONG: Some of Asia's biggest economies are likely to narrowly avoid recession this year and are poised to bounce back strongly in 2021 if the coronavirus is contained, the IMF forecast Tuesday, with China leading the recovery.
WASHINGTON — The International Monetary Fund issued a stark warning on Tuesday about the coronavirus’s economic toll, saying that the world is facing its worst downturn since the Great Depression as shuttered factories, quarantines and national lockdowns cause economic output to collapse.
WASHINGTON (Reuters) - The global economy is expected to shrink by 3.0% during 2020 in a stunning coronavirus-driven collapse of activity that will mark the steepest downturn since the Great Depression of the 1930s, the International Monetary Fund said on Tuesday.
Thailand is maintaining exports of rubber products and processed rubber as global demand surges, particularly for rubber products relating to virus protection such as rubber gloves and synthetic rubber used to make such gloves.
China’s exports declined 3.5 per cent in March compared to a year earlier as the coronavirus continued to impact the world’s second-largest economy, but imports rose 2.4 per cent, according to yuan data released on Tuesday by the General Administration of Customs.
China's exports in yuan terms fell less than forecast in March, as the coronavirus pandemic hurt both global demand and China’s ability to produce and ship goods. Imports increased.