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International trade in the wake of multiple shocks: OECD global trade monitor

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  • OECD

Abstract

In the midst of the recovery from the COVID-19 pandemic, trade and economic growth face new challenges as the Russian Federation’s large-scale war against Ukraine has increased uncertainty and tensions along supply chains and the People’s Republic of China’s trade performance has fallen short of expectations. Merchandise trade is recovering slowly and has been dampened by high and volatile commodity and energy prices, coupled with monetary tightening. Some durable goods, such as motor vehicles, have not regained their pre-pandemic share in global trade. Services trade has yet to recover losses incurred during the pandemic, with travel services in particular recovering slowly. Russia’s trade is adjusting as the war continues, with repercussions for commodities markets. This report uses detailed trade data to monitor recent developments in trade in goods and services and in commodity markets.

Suggested Citation

  • Oecd, 2023. "International trade in the wake of multiple shocks: OECD global trade monitor," OECD Trade Policy Papers 277, OECD Publishing.
    • Handle: RePEc:oec:traaab:277-en
    DOI: 10.1787/9288b5bf-en
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    More about this item

    Keywords

    China; Economic recovery; Russia; Transport;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • Q02 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Commodity Market

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