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COVID-19 Trade Watch (September 30, 2020) (English)

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).

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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