https://padlet.com/juste15/is7b7uy8v8bxjcxz The effects covid-19 has had on the exports of goods and services to and from commonwealth countries, the prospects for trade recovery and future growth. en-us 2021-12-17 16:23:21 UTC 2025-04-19 15:22:35 UTC hello@padlet.com juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1954037082 "There are 54 countries in the Commonwealth, in Africa, Asia, the Americas, Europe and the Pacific. Commonwealth countries are diverse- they are amongst the world's biggest, smallest, richest and poorest countries" (The Commonwealth, 2021).]]> 2021-12-17 16:57:17 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1954037082 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1961127301 The COVID-19 pandemic had a massive impact on the commonwealth countries' goods and services exports, the trade flows significantly reduced by 8% according to the commonwealth org (2021). The impact was also dependant on the development of the countries, this is supported by that "that impact, however, has varied across countries and regions, largely depending upon the level of development, trade structure, stringency of containment measures, and governments' capacity to implement policies supporting business" (The Commonwealth, 2021).]]> 2021-12-22 21:10:21 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1961127301 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980622985 As the COVID-19 pandemic has had a significant impact on commonwealth countries' trade market, it has also become a threat for the future of the trade market. The US and China will shrink its two-way trade by 15% in 2023.

]]> 2022-01-07 14:44:38 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980622985 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980628004 As the COVID-19 pandemic had a high number of deaths globally, this meant that there was a reduction of exports within the commonwealth countries.]]> 2022-01-07 14:47:23 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980628004 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980641447 COVID-19 has affected the commonwealth countries' incomes, which further effect the goods and services exports from the countries. This is supported by, "The results show that the COVID-10 supply chain contagion has implications for Commonwealth countries' national incomes. The export shocks affect industrial value-added (i.e. workers and owners' remuneration) and this in turn affects domestic demand" (The Commonwealth, 2020).]]> 2022-01-07 14:54:30 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980641447 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980656902 It is clear to say that the pandemic has had a negative influence on the trade market and trade flows, the percent of goods and services export and trade has dropped significantly. This is supported by, "The impact of COVID-19 on trade flows in 2020 is evident in recent WTO's estimates that indicate a drop in the volume of merchandise trade by 3 percent year-on-year in the first quarter of the year and around 18.5 per cent in the second quarter. This has significant implications for Commonwealth countries as around 70 per cent of their total trade is in goods" (The Commonwealth, 2020).]]> 2022-01-07 15:03:00 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980656902 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980673140 There are a number of ways that trade recovery could be carried out, however the COVID-19 pandemic is unpredictable and there is no certainty to when it will no longer effect the trade market. However, some action could be taken by the governments to recover trade and the economy such as financial support. This is supported by, "The international community can help tackle some of the challenges for a more sustainable and resilient economic recovery. Development assistance will almost certainly be needed from the major international financial institutions to assist developing countries to recalibrate their economies. A simple financial support measure may be to offer debt relief (debt standstills, restructurings or cancellation). These resources can be directed towards pandemic funding" (The Commonwealth, 2020).]]> 2022-01-07 15:11:54 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980673140 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980697636 A source of future growth from the Commonwealth is that the Commonwealth is creating better opportunities for trade, this means that countries are offered more of a chance to develop in the trade market. There are 18 projects held by the Commonwealth organisation to develop this, the 18 projects include opportunities for countries such as 'Barbados, Belize, Kenya, Malawi, Sri Lanka' and further more. This is supported by, "Fundamental changes are taking place in the technologies and rules that underpin global trade in goods and services. This presents the Commonwealth's diverse countries with challenges, but also opens up opportunities to expand trade and investment between members and with the rest of the world" (Commonwealth Secretariat, 2022).]]> 2022-01-07 15:24:21 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980697636 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980710575 Future growth for the Commonwealth would be to reduce the costs in goods and services exports at the borders, as trade costs are important. This is supported by, "Trade costs matter in multiple ways: they determine the ability of the most efficient firms to expand their market share, with high trade costs increasing the costs of critical inputs and decreasing returns from exports; they affect the cost of not only goods but also services, which account for a significant proportion of firms' total production costs" (Commonwealth Trade Review, 2018).]]> 2022-01-07 15:31:14 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980710575 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980741280 There is a lot of potential future growth for small states in the commonwealth. These small states are vulnerable due to the geographic position of them, they're dependant on trade of goods and services, or they may have less financial opportunities. Therefore, the sources of future growth from the Commonwealth are provided. This is supported by, "We push for international policies and rules to be more responsive to small states' needs, help Commonwealth small states access financing, build resilience, and have a voice on the global stage, deliver our work through economic research and analysis, and put our ideas into action in toolkits for small states" (Commonwealth Secretariat, 2022).]]> 2022-01-07 15:48:44 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980741280 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980762491 The Commonwealth Advantage as a programme that supports public debt management, this is a potential for future growth and recovery from the covid-19 pandemic, it provides support for members of the commonwealth countries with managing their debt portfolios. This is supported by, "In accordance with the mission of the Commonwealth Secretariat and the Sustainable Development Goals, the programme aims to strengthen the policy framework, institutional and legal arrangements, institutional capacity and management information systems to support prudent and effective debt management in member countries" (Commonwealth Secretariat, 2022).]]> 2022-01-07 16:01:09 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/1980762491 juste15 https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/2005000334 2022-01-21 13:31:41 UTC https://padlet.com/juste15/is7b7uy8v8bxjcxz/wish/2005000334