Global trade trends at the sectoral level
The trade recovery of the second half of 2020 has encompassed most sectors of goods, with the exception of the energy and transport equipment sectors.
The value of trade in these two sectors was still about one-third lower in the second half of 2020 relative to the same period of 2019.
Notably, while the trade recovery in Q3 2020 was largely driven by sectors related to goods for which demand has increased because of COVID-19, i.e. textiles (including personal protective equipment) and (home) office equipment, the recovery has been much more broad-based in Q4 2020, with trade in most sectors recording positive growth.
A broad based trade recovery for Q4 2020
Source: UNCTAD calculations based on national statistics. Note: Percentage changes in world trade are year-over-year. Changes are estimated from HS6 digits data of China, European Union, and United States. Data excludes intra-EU trade.
- UNCTAD Geneva also photo