A WTO´s study showed that in Q1 2021 the merchandise export/import number reached highs in Asia and levels prior to the Covid-19 pandemic in Europe and North America.
Meanwhile, it lagged behind in poorer and less industrialized regions such as Africa and the Middle East.
The study added that total global merchandise trade went up by 2.1% quarter-on-quarter, equivalent to a 8.7% annual rate.
Present recovery pace is broadly consistent with WTO’s most recent March 31, 2021 forecast, as it predicted a 8.0% goods trade growth in 2021 and 4.0% in 2022.
Experts warned that unequal access to Covid-19 vaccines continues to be the greatest threat to economic outlooks, as the no vaccine access to all people regardless of their income leaves most vulnerable people to fresh Covid-19 outbreaks.
The study also noted that most regions have experienced an export/import recovery to varying degrees since trade bottomed out in Q2 2020.
Major exception is the Commonwealth of Independent States (CIS) including some former and associate members, whose exports continue to scale down.
In Q1 2021, foreign sales toll jumped to 21% year-on-year in Asia and 1.9% in Europe.
Meanwhile, foreign sales toll fell slightly in South and Central America (0.1%) and North America (2.2%) and more substantially in Africa (4.6%), the Middle East (8.4%) and the CIS (13.9%).
pgh/Pll/jf / lpn