Geneva (dpa) - The value of global merchandise trade is estimated to plummet by 26.9 per cent in the second quarter compared to the first three months of the year, the UN Conference on Trade and Development (UNCTAD) said on Wednesday.

Trade had shown modest signs of recovery since late 2019, when the global economy was hit by various national measures to contain the coronavirus pandemic.

In the first quarter, global trade dropped by 3 per cent compared to the final quarter of 2019, according to the Geneva-based UN body.

The projection for the second quarter is within the forecast range of the World Trade Organization (WTO), which said in early April that global trade could drop between 13 and 32 per cent this year.

Trade has not only been hampered by the economic downturn that has come in the wake of lockdowns, but also by the disruption of cargo aviation and by some new trade restrictions on goods that are in high demand because of the pandemic.

According to the WTO, some 80 countries and territories have imposed export curbs on goods such as protective gear for health workers, disinfectants, medicine and medical devices, as well as food, soap or toilet paper.

UNCTAD also reported on Wednesday that its commodity price index dropped by 20.4 per cent in March, as fuel prices lost around a third of their value last month.

In contrast, prices for minerals, metals and agricultural raw materials only fell by 4 per cent in March.