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US$345 billion loss in trade for Commonwealth countries due to pandemic
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Commonwealth Trade Ministers Meeting 2023: Outcome Statement
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US$345 billion loss in trade for Commonwealth countries due to pandemic
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The country’s exports grew 18.2 per cent over 2019-20 to $25.3 billion from 21.4bn a year before. AFP/File
PAKISTAN trade performance in 2020-21 endorsed the positive projections of Commonwealth trade experts’ who predicted early trade recovery in the country. The Covid shock rattled the economy but it bounced back quickly on the strength of timely containment measures, confidence-building policies and the generous stimulus package.
The country’s exports grew 18.2 per cent over 2019-20 to $25.3 billion from 21.4bn a year before. In June 2021, export proceeds reached $2.7bn from $1.6bn in the corresponding month last year, steep growth of 70pc, reveals the current official data.
India s services exports on rebound after COVID shock: Commonwealth Report
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Last Updated: Jul 13, 2021, 09:03 PM IST
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Synopsis
The 2021 Commonwealth Trade Review concludes that the Commonwealth countries are estimated to have lost up to USD 345 billion worth of trade in 2020, including USD 60 billion in intra-Commonwealth trade.
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According to the analysis, in 2019, India was the second-largest global exporter of ICT services (after Ireland), and the largest ICT exporter in the Commonwealth, with exports of these services totaling USD 70 billion.
India s monthly services exports have largely rebounded after an initial COVID-19 shock, finds a new Commonwealth trade analysis released in London on Tuesday.