20210630-世界贸易组织-Trade_in_medical_goods_in_the_context_of_tackling_COVID-19_Developments_in_2020_14页_522kb

Summary of Trade in Medical Goods in the Context of Tackling COVID-19: Developments in 2020

Key Points

• Medical Goods Trade Growth: Imports and exports of medical goods were valued at US$ 2,343 billion in 2020, representing a 16 per cent increase compared to 2019. This growth contrasted sharply with the 7.6 per cent contraction in global merchandise trade.
• Pandemic-Related Products: Trade in critical medical goods for combating the pandemic, such as face masks, ventilators, sterilizers, and ultrasonic scanners, grew by 31 per cent in 2020.
• China's Dominance: China became the largest exporter of pandemic-related medical products, with exports valued at US$ 105 billion, nearly three times its 2019 level.
• Top Exporters and Importers: The top 10 exporting economies accounted for about 72 per cent of global supplies, while the top 10 importers accounted for 62 per cent of global imports.
• Test Kits and Diagnostic Reagents: These products accounted for around 10 per cent of per capita import expenses on pandemic-related goods in the most affected economies. In December 2020, exports and imports of these goods increased by 90 per cent and 126 per cent, respectively.
• Tariff Situation: The average most-favoured-nation (MFN) tariff on test kits was relatively low at 2.1 per cent, with India imposing the highest at 10 per cent.

Overview of 2020 Medical Goods Trade

• Global Trade Decline: World merchandise trade declined by 7.6 per cent in 2020, but medical goods trade grew by 16.3 per cent.
• Trade Value: Trade in medical goods across 100 economies reached US$ 2,343 billion in 2020, with a 6.6 per cent share of world trade, up from 5.3 per cent in 2019.
• Product Categories:
  • Medical Equipment: Grew by 7.2 per cent.
  • Ventilators: Grew by 73.5 per cent.
  • Medical Supplies: Grew by 18.5 per cent.
  • Test Kits & Diagnostic Reagents: Grew by 39.4 per cent in exports and 44.2 per cent in imports.
  • Medicine: Grew by 10.4 per cent.
  • Personal Protective Products: Grew by 47.2 per cent, with face masks seeing a more than 80 per cent increase in trade value.

Top Traders of Pandemic-Critical Products

• Top Exporters (2020):

  • China (US$ 105.457 billion, +176.1% from 2019)
  • United States (US$ 46.47 billion, -0.7%)
  • Germany (US$ 36.863 billion, +8.2%)
  • Netherlands (US$ 24.285 billion, +11.7%)
  • Mexico (US$ 13.163 billion, +8.5%)
  • Japan (US$ 12.34 billion, +1.3%)
  • Malaysia (US$ 12.014 billion, +52.1%)
  • Belgium (US$ 11.913 billion, +5.8%)
  • France (US$ 11.354 billion, +3.8%)
  • Ireland (US$ 8.892 billion, -5.8%)

• Top Importers (2020):

  • United States (US$ 78.327 billion, +43.1%)
  • Germany (US$ 32.479 billion, +37.2%)
  • China (US$ 24.644 billion, +14.1%)
  • France (US$ 19.643 billion, +58.4%)
  • Netherlands (US$ 18.200 billion, +13.5%)
  • United Kingdom (US$ 19.153 billion, +80.2%)
  • Italy (US$ 11.724 billion, +51.7%)
  • Spain (US$ 1.355 billion, +77.3%)
  • Belgium (US$ 11.003 billion, +16.6%)
  • Canada (US$ 11.993 billion, +49.7%)

Case Study: Test Kits and Diagnostic Reagents

• Importance: Diagnostic reagents and test kits are essential for tracking the spread of the virus and informing government policies.
• Trade Trends:
  • In March 2020, trade in these goods increased sharply as the pandemic spread globally.
  • In December 2020, exports and imports of these goods increased by 90 per cent and 126 per cent, respectively.
• Top Exporters: The United States, Germany, Netherlands, and United Kingdom were the top four exporters and importers of test kits and diagnostic reagents.
• Notable Growth: The Republic of Korea saw a 757.2 per cent increase in exports of these goods.
• Top Importers: The United Kingdom, Italy, Spain, and Belgium had the highest increases in imports.
• China's Shift: China, which was a net importer in 2019, became a net exporter in 2020 due to increased manufacturing capacity, with exports growing by 508.1 per cent.
• Per Capita Spending: In the most affected economies, diagnostic reagents and test kits accounted for around 10 per cent of per capita import expenses on pandemic-related goods.

Tariff Analysis

• MFN Tariff: The average MFN tariff on test kits was 2.1 per cent, with India imposing the highest at 10 per cent.
• Tariff-Free Trade: Most economies (over two-thirds) did not impose tariffs on test kits, and 20 per cent applied tariffs of 5 per cent or less.

Conclusion

The global trade in medical goods saw significant growth in 2020, particularly in pandemic-related products. China emerged as the leading exporter, while the United States remained the top importer. The trade in test kits and diagnostic reagents was especially affected by the pandemic, with sharp increases in both exports and imports. The trade patterns were heavily concentrated among a few key economies, and tariffs on these goods were generally low, facilitating their availability on the global market.