【ICDPASO】The Recovery of Global Goods Trade May Slow Down, and the Collaboration Against the Pandemic is a Long Way to Go

1. Key Concerns

The WTO published the latest Goods Trade Barometer on August 18, indicating that, while still well above trend, the index related to global trade in goods has started to rise at a decreasing rate, which could presage a peaking of upward momentum in trade. Indices for air freight, container shipping and raw materials in particular continued to rise. In contrast, the export orders index has slowed more definitively, providing a further indication that the pace of recovery is likely to decelerate in the near term. The outlook for world trade continues to be overshadowed by downside risks, including regional disparities, continued weakness in services trade, and lagging vaccination timetables, particularly in poor countries. At the same time, the COVID-19 pandemic continues to pose the greatest threat to the outlook for trade, as new waves of infection could easily undermine the recovery.

Recently, WHO further advanced the Rapid ACT-Accelerator Delta Response (RADAR) by launching urgent US$ 7.7 billion appeal for urgent needs within the next four months.

2. Briefing on COVID-19 Pandemic

According to WHO statistics, calculated numbers of confirmed COVID-19 cases and deaths reached 209,201,939 and 4,390,467 by August 19, 2021. The U.S., Iran, India, the U.K. and Brazil were the five countries (regions) with the highest number of new confirmed cases in the past seven days. Indonesia, Brazil, Russia, the U.S. and Mexico were the five countries (regions) with the highest number of new deaths in the past seven days. 

Inequalities in global vaccine access have increased and some countries (regions) are facing pandemic prevention challenges. Statistics from Our World In Data, an online research site of the University of Oxford, presented that 4,837,763,594 doses had been administered by August 18, 2021. At WHO’s regular press briefing on August 18, Tedros Adhanom, Director-General of WHO, noted that the DELTA variant continued to spread faster than the global response to the pandemic. He also called for the moratorium on COVID-19 booster vaccinations in order to provide vaccines to countries that have not vaccinated medical workers and risk groups.

In terms of COVID-19 controlling measures taken by countries (regions),, this issue focuses on the strengthening measures for prevention and control of the pandemic. Japan currently extended its state of emergency until September 12, covering 13 of the country's 47 prefectures. On August 18, Rio de Janeiro, Brazil issued vaccine mandate for all municipal civil servants and strengthened the vaccination requirements for entering public areas. On August 17, the U.S. extended the face mask mandate until January 18, 2022 for passengers on airplanes, trains and buses, and at airports and train stations. Kenya announced on August 18 that the curfew will remain in force for a further 60 days and also banned public gatherings including political rallies and campaign meetings for 60 days.