Global Trade Rose 10% Year-on-year In The First Quarter, A Strong Recovery Fr...2


From the perspective of trade trends in major economies, their trade will begin to recover from the fall of 2020 and continue until the first quarter of 2021, but the main reason for this substantial increase is the low base in 2020. Currently, trade in many major economies is still below the 2019 average. The recovery momentum of trade in goods in major economies is stronger than that in trade in services, which is a common feature of trade trends in all major economies. The trade performance of China, India and South Africa in the first quarter of 2021 was relatively better than that of other major economies. In particular, China's exports are not only higher than the 2020 average level, but also have a strong growth momentum higher than the level before the epidemic. In contrast, Russia's exports are still far below the 2019 average.

From the perspective of regional trade trends, overall, in the first quarter of 2021, compared with developed countries, the trade of developing countries continued to show a stronger momentum of rebound. Compared with the first quarter of 2020 and the first quarter of 2019, the value of imports and exports of goods from developing countries has risen sharply by approximately 16%. The importance of trade in East Asian economies in promoting the recovery of trade in developing countries, that is, South-South trade, is even more obvious. Among all regions, only the East Asia and Pacific economies experienced a strong rebound in exports, while the transition economies, South Asia and Africa’s exports were still below average. South America’s exports increased relative to the first quarter of 2020, but still Lower than the 2019 average.

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