INTERNATIONAL TRADE TRENDS IN TERMS OF CORONARY CRISIS

Анотація

The year 2020 іs characterized by one of the largest declines in international trade and output volumes. This paper primarily aims to explore vectors of influence of the coronary crisis on the dynamics and structure of international trade based on combinatorial approach which included calculation of quantitative indicators of world trade within countries and regions and estimation of qualitative parameters of government support of business in conditions of COVID-19. The empirical findings indicate: the coronavirus pandemic has resulted in an 8% decline in merchandise trade and a 21% reduction in commercial services trade in 2020; the rate of decline turned out to be different in countries, which led to an increase in the unevenness of export and import supplies; the application of protectionist measures by the governments of many countries is the expected response to the spread of the COVID-19; supply chains came under pressure early in 2020 but were an instrument in supporting the resumption of economic activity. The current paper reveals that international trade will serve as the basis for sustainable growth of the world economy both in 2022 and beyond.

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