Global trade in the post-pandemic environment
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Friday, February 9, 2024
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The pandemic triggered the deepest global recession (albeit short-lived) since the Second World War amid large-scale policy support, and led to a sweeping fall in world trade.
Key Points:
- The pandemic triggered the deepest global recession (albeit short-lived) since the Second World War amid large-scale policy support, and led to a sweeping fall in world trade.
- Following the initial COVID-19 shock, trade staged a rapid recovery, but from the second half of 2022 world trade growth started to decelerate markedly and in 2023 it is estimated to have been considerably below its pre-pandemic average.