With the global pandemic in 2020, global trade took a large hit with trades being hindered and the economy taking a large downfall. However, in 2021, global trade increased and actually started to surpass pre-pandemic stats.
The article, “Global trade hits record high of $28.5 trillion in 2021, but likely to be subdued in 2022” by UNCTAD explains that, “Overall, the value of global trade reached a record level of $28.5 trillion in 2021”.
That’s an increase of 25% on 2020 and 13% higher compared to 2019, before the COVID-19 pandemic struck.
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