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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September 29, 2021
Global economic activity is set to rebound in 2021
The global economy will bounce back this year on supportive fiscal and monetary stances and the vaccine rollout. However, fast-spreading Covid-19 variants will lead to stop-start restrictions in some countries, weighing on activity. Next year, growth should moderate on a less favorable base effect.
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October 13, 2021
Regional economy to recovery in 2021
Latin America should recover part of 2020’s pandemic-induced output losses this year, thanks to easing restrictions, rebounding external demand and higher commodity prices. That said, the still-troubling Covid-19 situation and a slow vaccine rollout will limit the pace of recovery. Moreover, weak fiscal positions as well as social and political tensions cloud the outlook.
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October 13, 2021
GDP forecast to expand in 2021
After recovering solidly this year, regional economic growth is set to ease next year as domestic and foreign demand stabilize. Private consumption should remain an important driver of growth, benefiting from tighter regional labor markets and robust remittance inflows. However, uncertainty over the pandemic and the unwinding of fiscal support measures cloud the outlook.
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September 22, 2021
GDP growth forecast for 2021 downgraded again
While the outlook for regional GDP growth in 2021 received its ninth successive downgrade this month, amid elevated infection rates in key economies, prospects for 2022 appear a lot brighter. The majority of countries in the region should see an acceleration in growth next year, as higher private spending growth boosts domestic activity.
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September 22, 2021
Economic outlook for 2021 brightens
Regional GDP growth should accelerate robustly this year as external demand rebounds. In 2022, ongoing fiscal and monetary stimulus should further support the bounce-back, while less volatile U.S. foreign policy under President Biden bodes well for trade. Covid-19-related uncertainty clouds the outlook, however, amid the increase in new variants of the virus.
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September 29, 2021
Euro area economy seen rebounding this year
The economy bounced back robustly in the second quarter, as the lifting of restrictions in the region amid expansionary fiscal and monetary policies bolstered household spending and investment activity. Available indicators suggest the recovery has carried over into the third quarter, albeit at a softer pace. A healthy rebound in industrial production in July, upbeat business sentiment in July−August and strong manufacturing PMI readings throughout the quarter hint at expanding private sector activity. Moreover, the services PMI has continued to signal strong expansions in the quarter, which, coupled with a further improvement in labor market conditions in July and stronger tourism activity, points to an ongoing recovery in the tertiary sector. However, weakening consumer confidence and mounting inflationary pressures in July−August could have weighed on household spending somewhat.
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October 6, 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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October 6, 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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October 6, 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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September 22, 2021
Regional economy to expand in 2021
Economic activity is set to firm next year as lockdown measures are rolled back further. Upbeat commodity prices and greater investment should also buoy the regional economy. However, a still-low vaccination rate remains the key risk to the regional outlook, while strained public finances, social unrest and an expected rise in unemployment further cloud the outlook.
Latest Economic
News
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Korea: Consumer confidence improves in September
October 27, 2021
Consumer confidence rose to 103.8 in September from August's 102.5.
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Indonesia: Decline in retail sales softens in August
October 15, 2021
Retail sales declined 2.1% compared to the same month of the previous year in August, which was above July's 2.9% decrease.
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Euro Area: Industrial production contracts in August amid supply chains bottlenecks
October 15, 2021
Industrial output decreased a seasonally-adjusted 1.6% over the previous month in August, contrasting July’s 1.4% rise.
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