Challenges to international trade and the global economy Recovery from COVID-19 and Russia's war of aggression against Ukraine

Amidst the recovery from the impact of the COVID-19 pandemic, Russia's war of aggression against Ukraine has resulted in new challenges to the global economy and to international trade. This report relies on detailed trade data to assess the impact of these two overlapping shocks on internation...

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Bibliographic Details
Main Author: Arriola, Christine
Other Authors: Cadestin, Charles, Kowalski, Przemyslaw, Martins Guilhoto, Joaquim José
Format: eBook
Language:English
Published: Paris OECD Publishing 2023
Series:OECD Trade Policy Papers
Subjects:
Online Access:
Collection: OECD Books and Papers - Collection details see MPG.ReNa
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520 |a Amidst the recovery from the impact of the COVID-19 pandemic, Russia's war of aggression against Ukraine has resulted in new challenges to the global economy and to international trade. This report relies on detailed trade data to assess the impact of these two overlapping shocks on international trade and supply chains. In February 2022, global trade was approaching pre-Covid levels in absolute terms, but with a different product and geographical composition resulting in a continued sense of tension in the trading system. Russia's war of aggression against Ukraine has added a new dimension of challenges as it has led to deliberate radical interruptions of trade linkages between Russia, Ukraine and many industrialised economies, with significant repercussions on prices of key commodities in the energy and agricultural sectors