 How resilient was trade to COVID-19?Maria Bas, Ana Fernandes and Caroline Paunov Economics Letters, 2024, vol. 240, issue C Abstract: We provide stylized facts on the short-run resilience of exports to the COVID-19 pandemic across product characteristics. Relying on global monthly product-level exports to the United States, Japan, and the 27 European Union countries from January 2018 to December 2021, we show that products with a higher reliance on China or few countries as input suppliers saw stronger declines in exports as a result of the COVID-19 shock while those with more automated production processes saw exports increase. Our analysis also shows that product characteristics played different roles mediating export responses at different stages of the 2020–2021 COVID-19 crisis. We document rapid reductions in vulnerabilities for exports of unskilled-intensive production. Reliance on diversified inputs from abroad progressively contributed to resilience following an initial negative role when trade was severely disrupted globally. Keywords: Exports; Vulnerability; Resilience; COVID-19; Shock; High-frequency data (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:240:y:2024:i:c:s0165176523001052 DOI: 10.1016/j.econlet.2023.111080 Access Statistics for this article Economics Letters is currently edited by Economics Letters Editorial Office More articles in Economics Letters from Elsevier |
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