A new report indicates that the global economy is projected to grow by 4.6% in 2021, following a 3.5% contraction in 2020 due to the COVID-19 pandemic. Emerging market and developing economies are expected to grow by 6.3% this year, as compared to a 2.2% contraction in 2020. Advanced economies are projected to see a growth of 5.6% in 2021, after a 4.2% contraction last year. The report also suggests that global trade is expected to rebound by 7.2% in 2021 after falling by 5.6% in 2020. These projections highlight a positive outlook for the global economy as it continues to recover from the impact of the pandemic.