The Extraordinary Growth of International Trade
Published date 20 December 2022
Trade has seen tremendous growth and now accounts for a quarter of Global GDP. The Global GDP was US$ 96.1 trillion in 2021, a considerable 13% growth from US$ 84.9 trillion in 2020 and just a shade under 5% CAGR from 2019, when pre-pandemic global GDP was US$ 87.7 trillion. Given that Covid19 impacted GDP in 2020, which contracted 3% from 2019, there is clear indication that 2020 was a blip year in the larger picture. Growth in international trade has played a significant role in helping the world recover to pre-pandemic levels.