Trade carrying capacity is currently 1.3 percent higher than last year, suggesting that global merchandise trade activity has largely recovered from the Coronavirus (COVID) - induced contraction. Trade data through July 2020 also indicate recovery, with exports and imports growing on average by 5 percent compared to June 2020. The rebound in China’s trade is running ahead of the rest of the world. High-income countries continue to dominate imports of COVID-19 medical supplies, with levels of imports multiple times the level of imports of low- and middle-income countries with comparable levels of mortality from COVID-19. While services trade began to increase in June, the overall YoY drop in services trade is over twice that for merchandise trade. The increase in services trade in June is consistent with the increase in merchandise trade observed previously for June (reporting of services trade lags goods trade).
Details
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Author
Ferrantino,Michael Joseph, Arvis,Jean Francois, Brenton,Paul, Constantinescu,Ileana Cristina, Dairabayeva,Karlygash Serikovna, Gillson,Ian John Douglas, Souza Muramatsu,Karen, Ulybina,Daria
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Document Date
2020/09/30
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Document Type
Newsletter
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Report Number
153426
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2020/09/30
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Disclosure Status
Disclosed
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Doc Name
COVID-19 Trade Watch (September 30, 2020)
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Keywords
percent change; maintenance and repair; international tourist arrivals; medical product; pension service; recreational services; global value chain; motor vehicle fuel; average exchange rate; types of service; real time information; merchandise trade; container shipping; global merchandise; trade flow; transport equipment; intellectual property; business service; consumer good; trade capacity; import growth; global trade; container throughput; data availability; consumer goods; merchandise export; medical goods; major port; medical supply; capital good; information service; merchandise import; Learning and Innovation Credit; global export; monthly data; intra-eu trade; export performance; electrical equipment; charter flight; commercial passenger; manufactured goods; international tourism; trade statistic; sectoral analysis; industrial supplies; viral transport; test kit; protective clothing; oxygen masks; commercial service; import data; trade show; trade datum; trade activity; goods trade; logistics information; Telecommunications
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Citation
Ferrantino,Michael Joseph Arvis,Jean Francois Brenton,Paul Constantinescu,Ileana Cristina Dairabayeva,Karlygash Serikovna Gillson,Ian John Douglas Souza Muramatsu,Karen Ulybina,Daria
COVID-19 Trade Watch (September 30, 2020) (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/993511601454373079/COVID-19-Trade-Watch-September-30-2020