A comprehensive overview of the latest developments in world trade, covering the details of merchandise trade by product and trade in commercial services.
The 2021 edition looks into the presents recent trends in world trade and seeks to provide statistical insights on the trade impact of COVID-19. It highlights that the value of world merchandise exports declined by 8 per cent while services trade contracted by 21 per cent in 2020, with the most severe impacts of the pandemic being felt in the second quarter of the year. Trade began to recover as of mid-2020, but with major differences across regions and sectors. The recovery of merchandise trade was mostly due to trade in manufactured goods while services trade continues to be weighed down by continued COVID-19-related travel restrictions.
"A full recovery for international travel, and for global trade in general, depends on rapid, equitable access to COVID-19 vaccines around the world," stresses WTO DG Okonjo-Iweala.
The report's analytical chapters are complemented by numerous statistical tables providing a detailed breakdown of various aspects of merchandise trade and trade in commercial services.
The merchandise trade data in the report was compiled in collaboration with the United Nations Conference on Trade and Development (UNCTAD) while commercial services data was jointly produced with UNCTAD and the International Trade Centre (ITC) in cooperation with the United Nations Statistics Division.
Table of Contents:
- Message from Director-General
- Highlights of world trade in 2020 and the impact of COVID-19
- World trade overview
- Merchandise trade
- Commercial services
- Leading traders
- Least-developed countries
- World trade and economic growth, 2020-21
- Trade and GDP in 2020 and early 2021
- Merchandise trade volume
- Commodity prices
- Exchange rates
- Merchandise and services trade values
- Leading indicators of trade
- COVID-19 and trade
- Economic recovery from COVID-19
- Composition, definitions & methodology
- Composition of geographical and economic groupings
- Definitions and methodology
- Specific notes for selected economies
- Statistical sources
- Abbreviations and symbols
- Statistical tables