Global trade in medical goods saw 16.3% growth in 2020, compared to 4.7% in 2019 when the Covid-19 pandemic just started unfolding, according to the World Trade Organisation (WTO).
Exports of medical products – including medicines, medical equipment and personal protective equipment (PPE) – rose more than 16%, underscoring how trade has been a lifeline for access to critical goods through the pandemic, after the initial disruptions.
The share of medical goods in the world merchandise trade grew from 5.3% in 2019 to 6.6% in 2020.
Trade in medical goods increased significantly in 2020, with trade in PPEs growing the most – more than 47.2%.
Medicine represented 52% of world trade in medical goods in 2020, according to World Trade Statistical Review 2021 issued by the WTO.