Title:

The repercussions of the COVID-19 pandemic for merchandise trade of the European Union with the Least Developed Countries (LDCs)

Group publication title:

Ekonomia XXI Wieku = Economics of the 21st Century

Title in english:

Skutki pandemii COVID-19 dla handlu Unii Europejskiej z najsłabiej rozwiniętymi państwami

Creator:

Mazur, Grzegorz

Subject and Keywords:

European Union ; least developed countries ; LDC ; merchandise trade ; exports ; COVID-19 ; pandemic ; Unia Europejska ; najsłabiej rozwinięte państwa ; eksport ; pandemia

Description:

Ekonomia XXI Wieku = Economics of the 21st Century, 2021, Nr 24, s. 89-100

Abstrakt:

The COVID-19 pandemic has triggered unprecedented and multidimensional repercussions for the global trading system. In this context, special attention should be addressed to the group of the least developed countries (LDCs) with their vulnerable economies and export performance weighed down by structural deficiencies. The general aim of the paper was to identify the main changes in merchandise exports of LDCs to the European Union (EU) – being one of the most important export markets for those countries – in the aftermath of the pandemic. The methodology is based on descriptive statistics of merchandise exports from the least developed countries to the EU during the pandemic with reference to the previous pre-pandemic period. The analysis indicated a strong decrease (mostly recorded by exporters of energy and manufactured goods, less for suppliers of raw materials and food/agricultural products) in LDCs’ exports to the EU market. The latest trade statistics also revealed that countries with higher export concentration and those that have the ‘graduating status’ have been more affected by export falls than the group. This highlights the need for further structural changes in the least developed countries, cautious monitoring of the graduation mechanism and the influence of the pandemic on the socio-economic situation in the group.

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2021

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/e21.2021.05

Language:

pol ; eng

Relation:

Ekonomia XXI Wieku = Economics of the 21st Century, 2021, Nr 24

Rights:

Pewne prawa zastrzeżone na rzecz Autorów i Wydawcy

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-SA 4.0

Location:

Uniwersytet Ekonomiczny we Wrocławiu