Decision-Making Optimization of Risk-Seeking Retailer Managed Inventory Model in a Water Supply Chain

Table 1

The recently updated forecasts for world Gross Domestic Product (GDP) and trade.

	Real GDP (% change)		Trade volume (% change)		Elasticity (ratio)
	2020	2021	2020	2021	2020	2021
Forecast for WTO Trade (April 2020)
Optimistic scenario	−2.5	7.4	−12.9	21.3	5.3	2.9
Pessimistic scenario	−8.8	5.9	−31.9	24.0	3.6	4.1
World Economic Prospects of the IMF (April 2020)	−3.0	5.8	−11.0	8.4	3.6	1.4
Global Economic Outlook of the World Bank (May 2020)	−5.2	4.2	−13.4	5.3	2.6	1.3
Economic Prospects of the OECD (June 2020)
Single-hit scenario	−6.0	5.2	−9.5	6.0	1.6	1.1
Double-hit scenario	−7.6	2.8	−11.4	2.5	1.5	0.9
Memo terms
IMF GDP set at market exchange rate	−4.2	5.4	−11.0	8.4	2.6	1.6
World Bank GDP set at purchasing power parity	−4.1	4.3	−13.4	5.3	3.3	1.2

Source: https://www.wto.org/english/news_e/pres20_e/pr858_e.htm.