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Global trade up 10% YoY – UNCTAD (United Nations Conference on Trade and development)

The United Nations Conference on Trade and Development disclosed that world trade’s recovery from the COVID-19 crisis hit a record high in Q1 2021, increasing by 10% year-over-year and 4% quarter-over-quarter.

The agency disclosed this in its Global Trade Update released on Wednesday, citing that the rebound in Q1 2021 was driven by the strong export performance of East Asian economies (South Korea, Hong Kong, Japan, Taiwan) whose early success in pandemic mitigation allowed them to rebound faster and to capitalize on booming global demand for COVID-19 related products.

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