Brussels, 12 November 2020
On the 12th of November, the United Nations Conference on Trade and Development (UNCTAD) published its annual Review of Maritime Transport 2020, which focuses on the COVID-19 pandemic's impact on the industry.
As per UNCTAD projections, the volume of international maritime trade will fall by 4.1% in 2020 because of the COVID crises, which has also caused supply-chain disruptions, demand contractions and global economic uncertainty. These trends unfolded against the backdrop of an already weaker 2019 that saw international maritime trade lose further momentum. Lingering trade tensions and high policy uncertainty undermined growth in global economic output and merchandise trade.
The pandemic has brought to the fore the importance of maritime transport as an essential sector for the continued delivery of critical supplies and global trade.
Along with other international bodies, UNCTAD issued recommendations and guidance, emphasizing the need to ensure business continuity in the sector, while protecting port workers and seafarers from the pandemic.
Moreover, the report outlines six priority areas for policy action to be taken in response to the COVID-19 pandemic and the persistent challenges facing the maritime transport and trade of developing countries:
- Support trade so it can effectively sustain growth and development.
- Help reshape globalization for sustainability and resilience.
- Promote greater technology uptake and digitalization.
- Harness data for monitoring and policy responses.
- Enable agile and resilient maritime transport systems.
- Maintain the momentum on sustainability, climate-change adaptation and resilience-building.