The International Trade Centre (ITC) launched a new monthly series on the Global State of Trade, bringing together the most recent ITC data and research to highlight variations in exports and market access conditions across countries, regions, and sectors.
Leveraging ITC’s trade and market access databases and in-house analytical capacities, the monthly briefs aim to support the trade policy debate by providing reliable, timely, and useful information to policymakers, trade journalists, and the wider trade community.
‘The pandemic has caused drastic changes in the global trade landscape. ITC’s monthly briefs on the Global State of Trade will help the trade community keep up with the latest developments and bring innovative research and analysis to its fingertips,’ says Pamela Coke-Hamilton, ITC Executive Director.
The series’ inaugural issue highlights the strong impact of the Covid-19 pandemic on world trade and the extent of the recovery in recent months. It also presents information on the number and type of Covid-19 temporary trade measures and new Sanitary and Phytosanitary (SPS) and Technical Barriers to Trade (TBT) notifications. The spotlight section showcases how the pandemic will affect long-term export potential.
With the onset of the pandemic, trade plummeted by more than 25% in April and May 2020 as compared to a year earlier. Around the same time, governments adopted a large number of temporary trade measures to ensure their populations would have access to essential medical supplies. In September 2020, year-on-year trade growth showed the first signs of recovery. But not all regions benefited equally. While Africa’s exports were the slowest to recover, by March 2021, Africa was the world’s fastest-growing region, with exports up 34% compared to March 2020.
Through its interactive features, the trade briefs webpage allows users to explore the latest trends in the regions and sectors of their interest. Every month, the briefs will also highlight other ITC statistics, such as data on tariff and non-tariff measures, services trade, export potential, and investment flows. The briefs will periodically feature the latest ITC research, including highlights from the SME Competitiveness Outlook and analyses of the trade effects of the AfCFTA.
Please visit ITC TradeBrief (intracen.org)