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COVID-19 and Trade in SSA : Impacts and Policy Response (English)

Measures taken to curtail the spread of COVID-19 have led to a sharp contraction of the global economy and an even larger decline in trade, with significant implications on the livelihoods of people in Africa. Despite the relatively low number of cases, the region's economy would be hard hit due to its high reliance on trade, heavy dependence on commodities, a fragile food system, and limited fiscal capacity to respond. This reinforces the region's inherent vulnerabilities, posing risks of wiping out the gains made in poverty reduction. Countries that have been registering robust growth face rapid growth declines. The response calls for a regional and global coordination to scale up safety nets, facilitate flow of essential goods and ease the region's debt burden to free some fiscal space. There is a need for active policies to support enterprises so that disruptions are not permanent. As they chart their operations beyond the pandemic, countries should reexamine their industrial policies and firms need to rethink their strategies to address emerging uncertainties.

Details

  • Author

    Kassa,Woubet

  • Document Date

    2020/06/01

  • Document Type

    Brief

  • Report Number

    148966

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Africa,

  • Region

    Africa,

  • Disclosure Date

    2020/06/01

  • Disclosure Status

    Disclosed

  • Doc Name

    COVID-19 and Trade in SSA : Impacts and Policy Response

  • Keywords

    commodity price index; access to financial service; global value chain; agricultural supply chain; exports of minerals; movement of people; government and business; share of trade; jobs creation; agriculture and livestock; rules of origin; commodity price shock; personal protective equipment; dependence on commodities; shortage of supply; share of export; international financial institution; contract enforcement mechanism; restrictions on export; global supply chain; public health concern; Social Safety Nets; global trade; goods trade; Trade Impact; Trade Policy; Trade Policies; supply shock; medical goods; export restrictions; confirmed case; in poverty; manufacturing sector; response effort; across border; job loss; open trade; fashion industry; essential goods; private-public partnership; global demand; Industrial Policy; Industrial Policies; cross-border trade; fiscal space; factory worker; Intra-regional Trade; garment industry; comparative advantage; total trade; global effort; intraregional trade; consumer confidence; manufacturing export; export market; primary sector; trade statistic; small-scale producer; small scale producer; improving customs; market place; fiscal capacities; regional bloc; export ban; domestic price; food system; global lead; food crop; social distance; agricultural good; debt requirement; global shocks; essential supplies; advanced economy; fuel trade; collaborative framework; manufacturing good; million people; increased risks; food insecurity; unemployed worker; Natural Resources; Social Protection; relief measure; mobilizing support; global economy; no harm; protectionist policy; short-term shocks; efficient system; online platform; commodity market; intra-african trade; regional science; rights protection; natural disaster; economic vulnerability; pandemic spread; supply disruption; intermediate input; intellectual property; benchmarking study; export earning; export earnings; policy option; manufacturing capabilities; early success; external demand; workers' union; global market; oecd countries; forward linkages; capital good; Business Climate; consumer good; consumer goods; raw material; domestic production; merchandise export; agricultural product; International Trade; export data; put pressure; demand shock; commercial service; international passenger; market access; major creditor; productivity growth; national income; external trade; global production; welfare program; public expenditure; medical supply; paradigm shift; apparel manufacturing; international transport

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Citation

Kassa,Woubet

COVID-19 and Trade in SSA : Impacts and Policy Response (English). Africa Knowledge in Time Policy Brief,no. 1 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/914781591043537997/COVID-19-and-Trade-in-SSA-Impacts-and-Policy-Response