Trade in medical goods registered growth of 16.3 per cent in 2020 compared with 4.7 per cent growth in 2019 when the Covid-19 pandemic was just starting, according to the World Trade Statistical Review 2021 issued by the World Trade Organisation (WTO).
Exports of medical products, including medicines, medical equipment and PPE, rose by more than 16 per cent, underscoring how trade has been a lifeline for access to critical goods through the pandemic, after the initial disruptions.
The share of medical goods in world merchandise trade grew from 5.3 per cent in 2019 to 6.6 per cent in 2020. Trade in medical goods increased significantly in 2020, with trade in personal protective products growing the most (+47.2 per cent). Medicine represented 52 per cent of world trade in medical goods in 2020,’ noted the Review, which looks into the latest developments in world trade, with a detailed analysis of the most recent trends for trade in goods and services.
Exports of computer services saw double-digit growth in many economies across various regions in 2020. Rapid growth was recorded in most economies, in marked contrast with declines in other services sectors. Demand for computer services was buoyant, reflecting the shift to remote work and the growth in digital platforms.
