The World Trade Organization has released the statistics of trade in Covid-19 related products. According to the WTO trade has played an important role in delivering essential supplies to fight COVID-19. Due to the pandemic trade in COVID-19 products increased rapidly.
There has been rapid increase in global export of critical products which includes Personal Protective Equipments, hand sanitizers and ventilators. The trade in this product increased to an estimated $187 billion in the first half of 2019.
According to the WTO, global trade in face masks, which has constituted substantial part of the ‘PPE’ figure increased by 76% to tune of $71 billion. The biggest supplier of face masks was China, accounting for more than half of the global exports for ‘PPE’.
The global exports of hand sanitizers rose to the tune of $16 billion with Germany as the biggest exporter. While respirators and ventilators global exports rose by 56% to the tune $6 billion, with 10 economies accounting for over four-fifths of respirators and ventilators.
The World Trade Organization thereby emphasized the importance of open and predictable market to enjay a strong recovery in all countries.