A recent report reveals that the global economy is predicted to grow by 5.6% in 2021, rebounding from a 3.5% contraction in 2020. Advanced economies are expected to expand by 5.4% this year, while emerging and developing economies are projected to grow by 6%.The world merchandise trade volume is forecasted to rise by 8% in 2021 after a 5.3% decrease in 2020. Trade in goods is expected to greatly contribute to the global economic recovery this year.On the downside, global poverty rate is estimated to increase by 0.3% in 2021, resulting in 32 million more people living in extreme poverty. This highlights the uneven impact of the pandemic on different socioeconomic groups.These projections indicate a positive outlook for the global economy in 2021, with growth in both advanced and emerging economies and a significant rebound in world trade volume. However, the rise in poverty rates raises concerns about the need for targeted interventions to support the most vulnerable populations during the recovery phase.