Global Trade Increased 10 Percent In The First Quarter

Global trade increased 10 percent in the first quarter. Asia accounted for most of the global trade in the first quarter.

The United Nations Conference on Trade and Development (UNCTAD) announced the global trade data report for the first quarter of 2021. According to the data released, global trade increased 10 percent and broke a record. In the report, which is said that global trade has recovered by 4 percent in the first quarter of 2021 compared to the previous quarter under the leadership of commodity trade, it was stated that the early success of the East Asian economies in reducing the spread of coronavirus enabled them to recover faster economically and benefit from the global demand for coronavirus-related products. The report stated that "the global trade of Covid-19-related products such as masks, ventilators, disinfectants and vaccines remained strong in the first quarter." The report underlined that the value of commodity trade in the first quarter of 2021 was higher than the pre-epidemic level, and it was reported that global services trade remained significantly below the average. In the report of UNCTAD, it was pointed out that the recovery in global trade in the first quarter was "irregular" and it was stated that this was more pronounced in developing countries. In the report, which reported that trade in most major economies still remained below the 2019 average, it was reported that China, India and South Africa were relatively better than other major economies in the first quarter of 2021 in global trade.