January 12

Analysis: International Trade: Year in Review 2020

The Covid-19 pandemic profoundly disrupted global trade in 2020. However, it has also caused new paradigms to emerge, some of which point to potentially positive outcomes over the medium term.

From national lockdowns to closed airspace and borders, Covid-19 resulted in unprecedented disruption to the mechanics of most economies, regardless of their size or stage of development. In particular, the creation of such barriers placed a major strain on global supply chains.

This was felt most keenly in the case of essential linkages related to food and medicine, and the global distribution of such products became a key focus of efforts to respond to the early stages of the pandemic.

Photo courtesy of Ayotunde Oguntoyinbo.

Source: Oxford Business Group (link opens in a new window)

business development, global development, international trade, manufacturing