Global trade in medical goods rises 16% in Jan-June: WTO

While total world trade in goods declined by 14 percent in the first half of 2020 compared to the same period in 2019, the imports and exports of medical goods increased by 16 percent, according to a paper released by the World Trade Organization (WTO).

The WTO Secretariat published the updated information note on trade in medical goods in the context of tackling Covid-19 which was first issued on 3 April.

The update looks at developments that took place in the first half of 2020, according to a news release issued on Tuesday.

The new paper presents preliminary trade statistics from 97 economies and compares data from January to June 2020 to the same period in 2019.

The update includes a special case study on face masks, a heavily traded product which has become the most visible symbol of the fight against the pandemic.

Trade played a major role in meeting skyrocketing demand for products considered critical in the COVID-19 pandemic, such as disinfectants, face masks, gloves, hand sanitizer, pulse oximeters, syringes, thermometers and ventilators.

Global trade in these products grew by 29 percent year-on-year, said WTO.

The note also looks at total imports of face protection products in the first half of 2020, which increased by 90 per cent compared to the same period last year.

Trade in textile face masks grew about six-fold and were the most traded among the different types of faces masks, despite facing the highest tariffs.