World Trade Statistical Review 2022
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World trade overview
Trade in goods made a strong recovery in 2021, exceeding pre-pandemic levels, while services trade remained well below its 2019 value.
Chart 2.1 World trade in goods and commercial services, 2008-2021, quarterly (Year-on-year percentage change
+27% Trade in goods has recovered faster than services trade due to strong consumer demand for products, especially in advanced economies, sustained by governments’ fiscal stimulus measures. In 2021, trade in goods rose by 27 per cent year-on-year, and by 17 per cent in comparison with 2019.
+16% By contrast, unequal distribution of vaccines, the emergence of new COVID-19 variants and border restrictions continued to weigh on the recovery of tourism and passenger transport in the services sector. Trade in commercial services expanded by 16 per cent in 2021. However, it remained 5 per cent below pre-pandemic levels.
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