In 2021, the value of world merchandise exports increased strongly, by 26.5 per cent, after two consecutive years of decline. Global exports amounted to US$22.3 trillion, US$3.3 trillion higher than the pre-pandemic value recorded two years before, in 2019. In 2022, the exports value is nowcast to continue growing, at a rate of 13.8 per cent from 2021.

Higher merchandise exports were recorded in the ‘North’ than in the ‘South’, in 2021. Developing economies contributed US$9.9 trillion and developed economies US$12.4 trillion to the world total. Asia and Oceania accounted for 45 per cent of global merchandise exports, followed by Europe with 37 per cent and America with 16 per cent. Africa remained underrepresented, capturing only 2 per cent of the global market.