Trade in ocean-based goods showed remarkable resilience during the recession induced by COVID-19 in 2020, the latest data from the United Nations Conference on Trade Development (UNCTAD) has shown.
UNCTAD’s ocean trade database showed that trade in ocean-related goods fell by 3.2% in 2020 compared to 2019, faring better than both world trade in goods, which dropped by 5.3%, and trade in ocean-related services, which collapsed.
David Vivas, an UNCTAD legal officer working on ocean economy issues, said: “The resilience of trade in ocean goods helped sustain millions of livelihoods amid the slowdown caused by the pandemic.”
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