Unia Europejska w handlu międzynarodowym na drodze do zrównoważonej gospodarki cyfrowej w warunkach pandemii COVID-19
The European Union in International Trade on the Path to a Sustainable Digital Economy Under the Covid-19 Pandemic

Author(s): Zofia Wysokińska
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Łódzkiego
Keywords: European Union; digital economy; international trade; Digital Compass; e-commerce
Summary/Abstract: The chapter aims to answer the following question: How has the European Union’s international trade developed in terms of goods and geography in the last two years, and to what extent has it been resilient to the effects of the COVID-19 pandemic?. The results of the conducted research show that the global economy experienced a huge decline in trade in goods and services during the COVID-19 pandemic. World trade in goods fell by 7.4% in 2020, which means that global exports amounted to USD 17.6 trillion, i.e., USD 1.4 trillion less than in the previous year. It was the largest annual decline since the 2009 recession, when trade fell by 22%. However, a much stronger decline was recorded in world trade in services, which in 2020 shrank by 20% compared to 2019. During the COVID-19 pandemic, the dynamic development of global e-commerce was noted. According to the data presented in the UNCTAD report of May 3, 2021, global e-commerce increased to USD 26.7 billion. Business-to-business (B2B) sales dominate in e-commerce. E-commerce accounts for 30% of the world’s gross domestic product (GDP) and covers both business-to-business (B2B) and business-to-consumer (B2C) sales.

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