Global intermediate goods (IG) exports, such as parts and components, grew 20% year-on-year in Q1 2021, reported the World Trade Organization (WTO).
According to a new WTO quarterly report to help track the health of global supply chains, the increase maintains the upward trend of GI exports following the sharp decline in Q2 2020, when the global spread of the Covid-19 crisis was in its early stages.
In particular, Asia reported the highest growth in exports of intermediate goods in the first quarter (28%) due to a 41% increase in Chinese exports of industrial intermediate goods, mainly parts for information and communication technology equipment and Photovoltaic cells.
Meanwhile, the most resilient supply chains in the first quarter were minerals, gemstones and rare earths, with export rising 43% in the first quarter, and food and beverages (22%).
By contrast, exports of parts and accessories for transportation reported the weakest recovery, at 6%, after sharp falls in 2020, as the pandemic hit both demand and production of automobiles.