Global trade industry recovery from COVID-19
The ongoing COVID-19 crisis has had a severely negative impact on global trade.
The start of the pandemic, coupled with the lockdowns all around the world has resulted in a significant damage of the trade industry, since the beginning of 2020. Around the world, importers and exporters faced a hard mission to try to balance business with saving lives. In the recent months, there have been more than a few encouraging signs. All around the world, governments start to realize that they must keep trading, to protect their respective economies. Global leaders lead to spring into action, who are now suggesting to remove barriers such as tariffs and restrictions.
It's likely that the global industry will recover from this crisis sooner than many experts has predicted initially. According to them, this recovery will probably be full complete by the end of 2022. Once more people get vaccinated, the COVID-19 cases will significantly decrease, allowing traders to trade more freely and safely. The mass vaccination around the world is a significant challenge. It is fair enough to say that this scenario will probably take more or less two years, allowing the trade industry to recover before the end of 2023.