International trade buoyed by resumption of supply chains but services trade growth remains fragile

‌18 Sept. 2020 - With a few exceptions, most countries saw international trade in goods continue to improve in June, July and August 2020 (for those with data). However, it remained below pre-pandemic levels; with the exception of China, which is now back to 2019 levels. The resumption of supply chains boosted international trade, especially in North America’s automotive industry. However, growth in services trade remains fragile (with levels still around 20% below 2019 averages). Although travel picked up strongly in Europe in June and July, as travel limitations eased, new restrictions imposed in many economies since then are likely to see a retrenchment.

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