Global Trade Report 2021
In this special report, we examine how the pandemic has affected global trade, and explore the trade outlook going forward.
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We provide our clients with reliable data, forecasts and analysis for over 131 countries and more than 34 key commodities to help them make sound business decisions. Our reports feature the Consensus Forecast (mean average), along with best- and worst-case scenarios. Find out how FocusEconomics Consensus Forecast reports can help you meet your business goals.
Latest Reports
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November 24, 2021
Global economic activity to slow in 2022
Global economic momentum will ease next year, as the initial post-pandemic rebound wanes in developed countries, and fiscal and monetary stances grow less expansive. However, many developing markets should record faster growth next year. Potential further stop-start Covid-19 restrictions and a possible hard landing in the Chinese economy pose risks.
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October 13, 2021
Regional economy to soften in 2022
The pace of growth in the regional economy will soften considerably next year, on a waning base effect and as domestic and foreign demand receive less support as fiscal and monetary policy stances are gradually tightened. The uncertain evolution of the pandemic and policy shifts following elections in several of the region’s big players are key factors to watch.
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October 13, 2021
GDP growth to ease in 2021
Stabilizing domestic and external demand should see regional economic growth ease next year, amid a tougher base of comparison. Tighter labor markets and robust remittance inflows will support household spending, however. The region’s relatively low vaccination rate and Covid-19 mutations, as well as instability and unwinding fiscal support, cloud the outlook.
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October 21, 2021
GDP growth forecast for 2022 appear brighter
Prospects for the region appear brighter in 2022, after the GDP outlook for 2021 received its tenth successive downgrade this month. Next year, all countries in the region should see an acceleration in growth, as higher private spending boosts domestic activity. Moreover, accelerating vaccination campaigns bode well for activity in 2022.
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October 21, 2021
Economic outlook for 2022 moderates
Regional GDP growth should moderate slightly in 2022 due to a less favorable base effect. That said, ongoing fiscal and monetary stimulus should support output, while less volatile U.S. foreign policy under President Biden bodes well for trade. Covid-19-related uncertainty clouds the outlook, however.
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October 27, 2021
Euro area economy seen rebounding in 2022
GDP growth surprised on the upside in Q3, mainly thanks to stronger-than-expected expansions in France and Italy more than offsetting subdued growth in Spain. Momentum has likely moderated significantly in Q4, as a strong upward trend in inflation hit consumer confidence in October and will be weighing on household spending, while protracted supply bottlenecks are dragging on activity in the secondary sector, as shown by October’s manufacturing PMI. Moreover, several countries in the bloc have tightened, or are planning to tighten, Covid-19 restrictions amid a fourth wave of infections, which will restrain the services sector. In other news, the European Commission recently delayed the implementation of stricter bank capital rules until 2025 in a bid to support the recovery. Meanwhile, in late October President Biden announced the U.S. will roll back tariffs on European steel and aluminum, boding well for trade.
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November 9, 2021
GDP forecast to expand robustly in 2021
The regional economy is set to expand solidly this year amid the easing of restrictions, before slowing somewhat in 2022. Although consumer spending in the region is set to accelerate, the normalization of global trade should see export growth slow, while weaker public spending will also contribute to the slowdown. The ongoing pandemic remains a key risk to the outlook.
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November 9, 2021
Economic growth in South-Eastern Europe seen picking up this year
After bouncing back this year from 2020’s pandemic-induced contraction, regional growth is forecast to slow notably next year. However, this will be chiefly due to a less favorable base effect, and looser domestic and foreign restrictions should keep aggregate demand healthy. Elevated fiscal shortfalls and debt burdens in certain countries cloud the outlook, however.
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November 9, 2021
CIS Plus GDP to rebound in 2021
The CIS Plus economy should recover strongly this year, amid the release of pent-up consumer demand and as a sturdier external backdrop boosts regional exports. Moreover, rekindled domestic activity in heavyweight Russia should translate into healthier remittance inflows for smaller economies. Geopolitical tensions and new Covid-19 strains cloud the outlook, however.
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October 6, 2021
GDP forecast to expand solidly in 2021
Regional GDP will expand robustly this year as oil exporters are set to gain from higher average crude prices and the easing of OPEC+ cuts. In 2022, growth should accelerate as the vaccine rollout and pent-up demand support domestic activity. Moreover, oil output should rise next year as OPEC+ further reduces production cuts.
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October 21, 2021
Regional economy to ease in 2022
Regional GDP growth will ease slightly next year on a tougher base of comparison. However, domestic and foreign demand should firm as restrictions are rolled back amid a progressing vaccination drive. Upbeat commodity prices and greater investment should further support momentum. That said, strained public finances, social unrest and higher unemployment cloud the outlook.
Latest Economic
News
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Israel: Composite State of the Economy Index picks up in October
November 25, 2021
The Bank of Israel’s Composite State of the Economy Index grew 0.25% month-on-month in seasonally-adjusted terms in October (September: 0.05% mom).
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Germany: Economic growth softens more than previously estimated in Q3
November 25, 2021
The Germany economy expanded 1.7% on a seasonally-adjusted quarter-on-quarter basis in the third quarter.
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Argentina: Merchandise exports continue to grow strongly in October
November 24, 2021
Merchandise exports increased 46.5% over the same month last year in October, following September’s 60.1% jump.
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