EU foreign trade during the pandemic crisis

Oxana Babecka Kucharcukova and Jan Bruha

A chapter in CNB Global Economic Outlook - November 2021, 2021, pp 13-16 from Czech National Bank, Research and Statistics Department

Abstract: International trade is one of the most important macroeconomic indicators. This article analyses its evolution during the coronavirus crisis. With the benefit of hindsight and longer time series, we assess the extent to which the hypotheses contained in our previous article have been borne out and what the monetary policy implications are. The macroeconomic shock experienced in 2020 is confirmed as having been largely a supply shock. In 2021, however, the story has changed: the current high prices of commodities and materials reflect renewed robust demand.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:cnb:ocpubc:geo2021/11

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