Global trade’s recovery from COVID-19 crisis hits record high

World trade’s recovery from the COVID-19 crisis hit a record high in the first quarter of 2021, increasing by 10% year-over-year and 4% quarter-over-quarter, according to UNCTAD’s latest Global Trade Update.

But the recovery remains uneven, especially among developing countries, with exports from East Asia rebounding substantially faster.

Also, while trade in goods during the first quarter of the year was higher than the pre-pandemic level, trade in services remained substantially below averages.

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Source: UNCTAD