After 50 days since the start of the Russian invasion of Ukraine, we take a look back at what has happened to commodity prices and offer a few ideas about their likely future trend.
Spain | Looking at bottlenecks under the magnifying glass
The COVID-19 crisis has severely disrupted value chains. Not only during the onset, but also in recent months. In light of this, BBVA Research has significantly revised growth forecasts downward.
In the past few months the focus of debate on the global outlook has shifted from the economic impact of the pandemic to how value-chain bottlenecks could affect production and inflation.
Despite the difficult global context brought about by COVID, the Spanish exports of goods maintained their export market destination and gained competitiveness and share in international trade. Outlook is favourable, although the uncertainty about the pandemic remains high and its impact on global activity is relevant.
COVID-19 hit international trade in 2020, paralyzing activity in several sectors and disrupting global supply chains. Demand plummeted and trade flows were severely damaged. The upward trend in the export of Spanish goods that had been ongoing since 2010 was also interrupted.
The expansion of global trade has slowed in recent years, following a long period of exuberance. How will trade flows evolve over the next decade, taking into account recent trends such as the pandemic and climate change, as well as other factors?
The drop in the volume of global trade is reflecting the most severe global recession since the Second World War, both due to the economies affected and the intensity of the expected falls in GDP over the middle quarters of 2020.
China | De-Sinicization of Global Value Chain after COVID-19
This report identifies which industries are most vulnerable to relocate outside China after COVID-19 based on some typical global value chain indicators and empirical findings. We also gauge the impact of global value chain relocation on China's growth.