WTO updates report on trade in medical goods in the context of COVID-19

December 30, 2020

The new paper presents preliminary trade statistics from 97 economies and compares data from January to June 2020 to the same period in 2019. The update includes a special case study on face masks, a heavily traded product which has become the most visible symbol of the fight against the pandemic.

While total world trade in goods declined by 14 per cent in the first half of 2020 compared to the same time period in 2019, imports and exports of medical goods increased by 16 per cent, reaching US$ 1.139 trillion in value.

Trade played a major role in meeting skyrocketing demand for products considered critical in the COVID-19 pandemic, such as disinfectants, face masks, gloves, hand sanitizer, pulse oximeters, syringes, thermometers and ventilators. Global trade in these products grew by 29 per cent year-on-year...

This was excerpted from a 22 December 2020 news item by the World Trade Organization.

Topic(s)

International Trade and Border Management

Information source

World Customs Organization (WCO) / World Trade Organization (WTO)

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The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.

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