Introducing The Tradeshift Index of Global Trade Health—a new quarterly report that uses the data flowing across the Tradeshift network to provide a unique insight into the state of global trade.
Ever since reports of the virus first emerged in January, we've followed the impact of the pandemic on business-to-business trade and the health of global supply chains. It’s been an extraordinary few months. We see this in our data, which shows a 14.8% fall in trade activity globally in Q2 compared to Q1.
Yet while the data shows the green shoots of a post-lockdown recovery starting to emerge, the overall picture remains volatile. And, given the globally interconnected nature of trade and supply chains, it’s unlikely we’ll see a sustained global recovery until every region is in a position to do so.
Some key findings from the report are that:
- Global trade activity dropped 14.8% in Q2 compared to Q1.
- Transaction volumes in Western economies fell furthest in April. In the eurozone, activity dropped to -44.5% below the pre-lockdown levels during the week commencing 13th April.
- China bounced back strongly in Q2, with transactions in the region up 31.8% against the previous quarter.
- Green shoots of recovery are emerging, particularly in the eurozone where transaction volumes in June were 38% higher than in April. In the US, activity is up 34% over the same period.
Read the full report to discover the real impact of COVID-19 on global trade. Then hear what our Co-Founder and SVP for Asia Pacific, Mikkel Hippe Brun, believes organizations must do to prevent another crisis having such a dramatic impact on their supply chains.
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