Trends and Transformations in the International Trade of The Last Decade (2013-2023)
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| Pages: | 56 : 67 |
| Abstract: | International goods trade went through major turbulences between 2013 and 2023. In the first half of this interval, global trade grew at a fairly steady pace but recent years brought major disruptions. The Covid19 Pandemic and growing geopolitical tensions (most notably the war in Ukraine) has all significantly reshaped world trade flows. The analysis of the main twelve players in world trade highlights both resilience and structural changes in the trade matter. China and the European Union consolidate their status as global leaders in goods exports while the United States maintains its dominant position in goods imports. In parallel, emerging economies such as India and Mexico have strengthened their presence on the global market. The evolution of trade balances was asymmetric: constant surpluses of China and the EU have contrast with growing deficits of the US. These trends see the reconfiguration of supply chains, the emphasis on strategic dependencies in critical sectors, and the gradual shift from hyper-globalization to a more fragmented and regionalized trade order. |
| JEL classification: | F10, F13, F15, F40 |
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F10, F13, F15, F40
