IDEAS home Printed from https://ideas.repec.org/b/ecr/col016/45878.html
   My bibliography  Save this book

The effects of the coronavirus disease (COVID-19) pandemic on international trade and logistics

Editor

Listed:
  • ECLAC

Author

Listed:
  • -

Abstract

This Special Report is the sixth in a series by the Economic Commission for Latin America and the Caribbean (ECLAC) on the evolution and impacts of the COVID-19 pandemic in Latin America and the Caribbean. It includes estimates regarding the pandemic’s impact on exports, imports, transportation and logistics in the region’s countries. The COVID-19 outbreak occurred in a context of sluggish global trade that has been dragging on since the 2008–2009 financial crisis. The rapid spread of COVID-19 and the measures taken by governments to contain it have had serious consequences for the world’s major economies. Many productive activities have been disrupted, first in Asia and then in Europe, North America and the rest of the world, and there have been widespread border closures. This has resulted in a steep rise in unemployment, especially in the United States, with a consequent reduction in demand for goods and services. Against this backdrop, global GDP in 2020 is expected to register its sharpest contraction since the Second World War. In this situation, the volume of global trade in goods fell by 17.7% in May 2020 compared with the same month in 2019 The drop in the first five months of the year was widespread, although it particularly affected exports from the United States, Japan, and the European Union. The economic contraction in China was smaller than the global average, as that country controlled the outbreak and reopened its economy relatively quickly. Latin America and the Caribbean is the most affected developing region. In a global context of increased production regionalization, regional integration must play a key role in the crisis-recovery strategies in Latin America and the Caribbean. To move forward with regional integration, infrastructure and logistics must be included in economic recovery packages. In addition to their sizeable direct contributions to GDP and employment, infrastructure and logistics are essential for the production of all goods and services, the supply of food and essential services, and international trade competitiveness.

Suggested Citation

  • -, 2020. "The effects of the coronavirus disease (COVID-19) pandemic on international trade and logistics," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 45878 edited by Eclac, March.
    • Handle: RePEc:ecr:col016:45878
    as

    Download full text from publisher

    File URL: http://repositorio.cepal.org/handle/11362/45878
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. World Bank, 2020. "Global Economic Prospects, June 2020," World Bank Publications - Books, The World Bank Group, number 33748, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Aurora COSMA & Laura Agata TOC & Andreea Daniela TUDOR & Alina Georgiana PETRE, 2020. "Pandemic Costs: Comparative Study Between Countries And Socio-Economic Areas," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 14(1), pages 994-1000, November.
    2. González Moncada, Verónica, 2020. "Impact of COVID-19 on transport and logistics connectivity in the Caribbean," Documentos de Proyectos 46507, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Da Van Huynh & Thuy Thi Kim Truong & Long Hai Duong & Nhan Trong Nguyen & Giang Vu Huong Dao & Canh Ngoc Dao, 2021. "The COVID-19 Pandemic and Its Impacts on Tourism Business in a Developing City: Insight from Vietnam," Economies, MDPI, vol. 9(4), pages 1-17, November.
    4. Tomas Davulis & Ligita Gasparėnienė & Evaldas Raistenskis, 2021. "Assessment of the situation concerning psychological support to the public and business in the extreme conditions: case of COVID-19," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(3), pages 308-323, March.
    5. Marinov, Eduard, 2020. "Новият Шок Covid 19 – Въздействие Върху Международната Търговия На Глобално И Национално Ниво [The new shock COVID 19 - impact on international trade on a global and national level]," MPRA Paper 110921, University Library of Munich, Germany.
    6. Oleksandr SHNYRKOV & Oleksii CHUGAIEV, 2020. "Resilience Of The Eu Exports To Ukraine Under The Covid-19 Pandemic," EURINT, Centre for European Studies, Alexandru Ioan Cuza University, vol. 7, pages 80-100.
    7. Rivera, Alejandra, 2020. "The impact of COVID-19 on transport and logistics connectivity in the landlocked countries of South America," Documentos de Proyectos 46528, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gutiérrez-Romero, Roxana & Ahamed, Mostak, 2021. "COVID-19 response needs to broaden financial inclusion to curb the rise in poverty," World Development, Elsevier, vol. 138(C).
    2. Hadzi-Vaskov Metodij & Pienknagura Samuel & Ricci Luca Antonio, 2023. "The Macroeconomic Impact of Social Unrest," The B.E. Journal of Macroeconomics, De Gruyter, vol. 23(2), pages 917-958, June.
    3. Isaac K. Ofori, 2021. "Towards Building Shared Prosperity in Sub-Saharan Africa: How Does the Effect of Economic Integration Compare to Social Equity Policies?," Working Papers of the African Governance and Development Institute. 21/045, African Governance and Development Institute..
    4. Orietta Nicolis & Jean Paul Maidana & Fabian Contreras & Danilo Leal, 2024. "Analyzing the Impact of COVID-19 on Economic Sustainability: A Clustering Approach," Sustainability, MDPI, vol. 16(4), pages 1-30, February.
    5. Adian,Ikmal & Doumbia,Djeneba & Gregory,Neil & Ragoussis,Alexandros & Reddy,Aarti & Timmis,Jonathan David, 2020. "Small and Medium Enterprises in the Pandemic : Impact, Responses and the Role of Development Finance," Policy Research Working Paper Series 9414, The World Bank.
    6. González, Marta Ramos & Ureña, Antonio Partal & Fernández-Aguado, Pilar Gómez, 2023. "Forecasting for regulatory credit loss derived from the COVID-19 pandemic: A machine learning approach," Research in International Business and Finance, Elsevier, vol. 64(C).
    7. Quibria, M.G., 2020. "Poverty and Policy in the Developing World: Before and After the Pandemic," MPRA Paper 104240, University Library of Munich, Germany, revised 15 Oct 2020.
    8. Ofori, Isaac K. & Armah, Mark K. & Taale, Francis & Ofori, Pamela E., 2021. "Addressing the Severity and Intensity of Poverty in Sub-Saharan Africa: How Relevant is the ICT and Financial Development Pathway?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue forthcomi.
    9. Ștefan Cristian Gherghina & Daniel Ștefan Armeanu & Camelia Cătălina Joldeș, 2020. "Stock Market Reactions to COVID-19 Pandemic Outbreak: Quantitative Evidence from ARDL Bounds Tests and Granger Causality Analysis," IJERPH, MDPI, vol. 17(18), pages 1-35, September.
    10. Marinov, Eduard, 2020. "Новият Шок Covid 19 – Въздействие Върху Международната Търговия На Глобално И Национално Ниво [The new shock COVID 19 - impact on international trade on a global and national level]," MPRA Paper 110921, University Library of Munich, Germany.
    11. Osman Taylan & Abdulaziz S. Alkabaa & Mustafa Tahsin Yılmaz, 2022. "Impact of COVID-19 on G20 countries: analysis of economic recession using data mining approaches," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-30, December.
    12. Abel Brodeur & David Gray & Anik Islam & Suraiya Bhuiyan, 2021. "A literature review of the economics of COVID‐19," Journal of Economic Surveys, Wiley Blackwell, vol. 35(4), pages 1007-1044, September.
    13. Liu, Li-Jing & Yao, Yun-Fei & Liang, Qiao-Mei & Qian, Xiang-Yan & Xu, Chun-Lei & Wei, Si-Yi & Creutzig, Felix & Wei, Yi-Ming, 2021. "Combining economic recovery with climate change mitigation: A global evaluation of financial instruments," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 438-453.
    14. Abdoul’ Ganiou Mijiyawa & Djoulassi K. Oloufade, 2023. "Effect of Remittance Inflows on External Debt in Developing Countries," Open Economies Review, Springer, vol. 34(2), pages 437-470, April.
    15. Isaac K. Ofori & Mark K. Armah & Emmanuel E. Asmah, 2021. "Towards the Reversal of Poverty and Income Inequality Setbacks Due to COVID-19: The Role of Globalisation and Resource Allocation," Working Papers 21/043, European Xtramile Centre of African Studies (EXCAS).
    16. Francisco Ceballos & Manuel A. Hernandez & Cynthia Paz, 2021. "Short‐term impacts of COVID‐19 on food security and nutrition in rural Guatemala: Phone‐based farm household survey evidence," Agricultural Economics, International Association of Agricultural Economists, vol. 52(3), pages 477-494, May.
    17. Daud, Siti Nurazira Mohd & Ahmad, Abd Halim, 2023. "Financial inclusion, economic growth and the role of digital technology," Finance Research Letters, Elsevier, vol. 53(C).
    18. Yothin Jinjarak & Ilan Noy & Quy Ta, 2022. "Pandemics and Economic Growth: Evidence from the 1968 H3N2 Influenza," Economics of Disasters and Climate Change, Springer, vol. 6(1), pages 73-93, March.
    19. Ian M. McDonald, 2020. "Macroeconomic Policy to Aid Recovery after Social Distancing for COVID‐19," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 53(3), pages 415-428, September.
    20. Mary Grace F. Encila & Dennis V. Madrigal, 2021. "Balancing Work-Family Roles: The Experiences of Solo Parent School Administrators," Technium Social Sciences Journal, Technium Science, vol. 20(1), pages 100-107, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecr:col016:45878. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Biblioteca CEPAL (email available below). General contact details of provider: https://edirc.repec.org/data/eclaccl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.