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It is concluded that the Covid-19 has badly impacted the global commonwealth trading of goods and services. There is high rate of negative impact on the economies of the countries of commonwealth. But on the other hand, with the digital trade and technology there is sources of growth and some commonwealth advantages that must be utilized by the small vulnerable states in order to recover their trading and economies.

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Many challenges due to the covid-19 2021 commonwealth trade review meeting has identified the possible pathway as a source of growth to guide the commonwealth countries and the policy makers towards sustainable inclusive and resilient recovery from the pandemic through digital trade and technologies (US$345 billion loss in trade for Commonwealth countries due to pandemic,2021).

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UK commonwealth trade is relative your growth prospect in the commonwealth countries. UK export growth opportunity to the commonwealth countries is considered as the favourable is backed especially if the free trade agreement is negotiated successfully (Rejeb, A and et. al., 2020). Due to shared history and commonalities of language, law, business practices it is estimated that commonwealth countries global trading with one another is experience does the business cost lower than the similar dealing with the non commonwealth countries of comparable GDP and size this is one of the most essential commonwealth advantage.

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In terms of source of growth, the commonwealth advantage is one of the essential factors that can be harnessed at the commonwealth countries to provide tailwind that supports the recovery from post and make special to the small states that are hardly hit. Some of the commonwealth advantages for supporting small states are creating better trade opportunities, public debt management, connectivity agenda, international trade policy and much more.

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Commonwealth is the association of the 54 independent countries which comprises of the developed landlocked, small, large, Iceland economies. Due to the global pandemic, there has been profound changes taking place in the global trade landscape which includes e governance technologies framework that support the trade in goods and services and other digital economy (Abhayawansa, Adams and Neesham, 2021). ITI long term interest of the present 19 there are some sources of growth for the commonwealth countries includes of commonwealth advantage that is trade, technology and governance (Strengthening the Commonwealth Advantage: Trade, Technology, Governance,2018).

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Identify and evaluate the sources of future growth including from the Commonwealth advantage.

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Identify and evaluate the sources of future growth including from the Commonwealth advantage.

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Thus, due to the global pandemic there is disproportionate impact on economics and trade of the 54 commonwealth countries. In 2020 there is collapse of US $1.45 trillion due to the induced recession in the 45 commonwealth economies and GDP. This further shifted to $345 billion forgone in member countries global exports and in intra commonwealth trade flows (The Impact of COVID-19 on the Global and Intra- Commonwealth Trade in Goods, 2021).

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In 2020, commonwealth global and intra commonwealth trade manufactured goods and commodities at the source of income but due to the covid-19 the economy is where hit particularly hard when commodities price were dropped (TERRITORIES, 2020). The mean comedies of commonwealth countries are fuel, food products, metals, minerals, ore, among all these fuels was the most exported commodity which was completely dropped with the prices and covid-19 negatively affected the demand for the fuel commodity in most of the countries.

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As the commonwealth diverse and wide group of 54 countries from east coast of New Zealand to the west part of the Caribbean and South America commonwealth countries are developed and 48 are on various level of economic development. The global crisis created a severe drop in the commonwealth global and intra commonwealth trade flows as and commonwealth is contracted by 10% in 2020 (The Impact of COVID-19 on the Global and Intra- Commonwealth Trade in Goods, 2021).

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Around 70% of the commonwealth countries are involved in the exports and comprise merchandise that has been impacted with bilateral merchandise trade and countries due to the covid-19.

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Due to the covid-19 large populations and heavy resilience on the goods and service exports the similar deep recession in the major export markets has made the commonwealth countries a suspect of financial contagion (Escaith and Khorana, 2021). Also, in the low income countries among which some of them are the commonwealth small states that a pre existing structure when it was these are proven to be more impacted with the covid-19.

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The global pandemic covid-19 has created a huge shock of unprecedented degree which has also impacted the international trade flows. Due to the lockdown, trader restrictions, closure of international borders and ports and other virus containment precautions there was huge disruption in the economic activities which is resulted into macroeconomic thunderstorm. As per the economic analysis in 2020 due to the covid-19 the global trade flows collapsed by average of 8 percent.

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What is the impact of COVID-19 on Commonwealth countries’ global and intra-Commonwealth goods and services exports, and what are the prospects for trade recovery? 

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What is the impact of COVID-19 on Commonwealth countries’ global and intra-Commonwealth goods and services exports, and what are the prospects for trade recovery? 