According to the Financial Times, global trade dropped 2.6 percent in February compared to the same time in 2019. This February drop also follows a 1.5 percent drop from January 2020. Specifically, China had a 7.3 percent fall in imports in January 2020 due to parts of the country shutting down in response to the Corona virus. For February, China had another 3.2 percent drop for the month.
The US did not show any impact in trade volume while the EU trade volume dropped 1.5 percent for February 2020. Will be interesting to see March and April numbers when reported.
General importing/exporting questions? Contact experienced trade attorney David Hsu by phone/email at: email@example.com.