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Commonwealth Trade Review 2021: Reviving trade in a digital world

(CU)_With the rollout of COVID-19 vaccines, several member-states of the Commonwealth have already begun reopening their economies and resuming trade and travel. Nevertheless, it is imperative to take a look at the effects the global health crisis has had on the performance and prospects for trade and investment across the association. 

In the 2021 Commonwealth Trade Review published recently, the Commonwealth Secretariat noted that the pandemic has severely affected global and intra-Commonwealth trade over the past year, inducing a deep recession in several member-states. Foreign direct investment inflows to these countries have also taken a considerable hit. As a result, the crisis has had a disproportionate impact on already vulnerable economies, especially small states, least developed countries (LDCs) and countries in sub-Saharan Africa, having severe effects on women, youth, and the poor.

According to the report, Commonwealth countries are estimated to…

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