NiGEM Topical Feature 1: Trade and the unequal race to the Covid-19 vaccine

Dawn Nicole Holland (), Corrado Macchiarelli and Xuxin Mao

National Institute Global Economic Outlook, 2021, issue 1, 19-25

Abstract: Until an effective vaccine is available on a widespread basis, restrictions on international travel will continue to restrain the global economic recovery, reducing world trade this year by at least 2.75 per cent. Given the uneven distribution of vaccine access worldwide, many low-income and lower-middle-income countries may need to retain restrictions on mobility well into 2022 to prevent renewed virus outbreaks. Economic growth will suffer in all countries as a result, especially in those that cannot secure sufficient doses of vaccine. Our analysis highlights the importance of a coordinated and widespread rollout of the Covid-19 vaccine to enable the revitalisation of services trade.

Date: 2021
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