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COVID-19’s Impact on International Trade

We analyze how the COVID-19 pandemic affected the trade of products between countries. With this aim, using the United Nations Comtrade database, we perform a Google matrix analysis of the multiproduct World Trade Network (WTN) for the years 2018–2020, comprising the emergence of the COVID-19 as a g...

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Autores principales: Coquidé, Célestin, Lages, José, Ermann, Leonardo, Shepelyansky, Dima L.
Formato: Online Artículo Texto
Lenguaje:English
Publicado: MDPI 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8947151/
https://www.ncbi.nlm.nih.gov/pubmed/35327838
http://dx.doi.org/10.3390/e24030327
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author Coquidé, Célestin
Lages, José
Ermann, Leonardo
Shepelyansky, Dima L.
author_facet Coquidé, Célestin
Lages, José
Ermann, Leonardo
Shepelyansky, Dima L.
author_sort Coquidé, Célestin
collection PubMed
description We analyze how the COVID-19 pandemic affected the trade of products between countries. With this aim, using the United Nations Comtrade database, we perform a Google matrix analysis of the multiproduct World Trade Network (WTN) for the years 2018–2020, comprising the emergence of the COVID-19 as a global pandemic. The applied algorithms—PageRank, CheiRank and the reduced Google matrix—take into account the multiplicity of the WTN links, providing new insights into international trade compared to the usual import–export analysis. These complex networks analysis algorithms establish new rankings and trade balances of countries and products considering all countries on equal grounds, independent of their wealth, and every product on the basis of its relative exchanged volumes. In comparison with the pre-COVID-19 period, significant changes in these metrics occurred for the year 2020, highlighting a major rewiring of the international trade flows induced by the COVID-19 pandemic crisis. We define a new PageRank–CheiRank product trade balance, either export or import-oriented, which is significantly perturbed by the pandemic.
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spelling pubmed-89471512022-03-25 COVID-19’s Impact on International Trade Coquidé, Célestin Lages, José Ermann, Leonardo Shepelyansky, Dima L. Entropy (Basel) Article We analyze how the COVID-19 pandemic affected the trade of products between countries. With this aim, using the United Nations Comtrade database, we perform a Google matrix analysis of the multiproduct World Trade Network (WTN) for the years 2018–2020, comprising the emergence of the COVID-19 as a global pandemic. The applied algorithms—PageRank, CheiRank and the reduced Google matrix—take into account the multiplicity of the WTN links, providing new insights into international trade compared to the usual import–export analysis. These complex networks analysis algorithms establish new rankings and trade balances of countries and products considering all countries on equal grounds, independent of their wealth, and every product on the basis of its relative exchanged volumes. In comparison with the pre-COVID-19 period, significant changes in these metrics occurred for the year 2020, highlighting a major rewiring of the international trade flows induced by the COVID-19 pandemic crisis. We define a new PageRank–CheiRank product trade balance, either export or import-oriented, which is significantly perturbed by the pandemic. MDPI 2022-02-24 /pmc/articles/PMC8947151/ /pubmed/35327838 http://dx.doi.org/10.3390/e24030327 Text en © 2022 by the authors. https://creativecommons.org/licenses/by/4.0/Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
spellingShingle Article
Coquidé, Célestin
Lages, José
Ermann, Leonardo
Shepelyansky, Dima L.
COVID-19’s Impact on International Trade
title COVID-19’s Impact on International Trade
title_full COVID-19’s Impact on International Trade
title_fullStr COVID-19’s Impact on International Trade
title_full_unstemmed COVID-19’s Impact on International Trade
title_short COVID-19’s Impact on International Trade
title_sort covid-19’s impact on international trade
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8947151/
https://www.ncbi.nlm.nih.gov/pubmed/35327838
http://dx.doi.org/10.3390/e24030327
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