Did you know global trade as, on the whole, recovered from the record shocks caused by the Covid-19 pandemic? In fact, it was the fastest decline followed by the fastest recovery in recent trade history. That gem, and many others, can be found in a recent post by the World Economic Forum, pulling from three sources to summarize global trade's recent-past to present, present to near future and projected 2026 future.
Global trade has recovered completely from the rapid crash caused by the Covid-19 pandemic.
Global trade will stabilize and continue to grow, despite the war in Ukraine dampening growth for 2022-23.
2026 Projected Trade Map
“The centre of gravity of world trade is poised for a turn to the south,” says the report, which finds Southeast and South Asia, as well as Sub-Saharan Africa will all be central to trade growth in future.
The below chart, which again draws on IMF forecasts, shows these three regions will have the fastest growing global trade growth by volume in the next five years.
These dramatic shifts will inevitably cause supply disruptions over the next five years. Now more than ever, securing your existing supply chain should be the priority to ensure business continuity throughout the transition to China Plus One and beyond. Auditing and monitoring your supply chain partners will allow you to be the first to know of any changes.
Need help properly auditing your supply partners? Nuna Network is here. We’re the partner of choice and go-to resource for businesses or individuals seeking guidance in researching, developing, and establishing relationships with companies in China.
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