London Daily

Focus on the big picture.
Monday, Aug 25, 2025

Virus response helps make China, Taiwan, Vietnam poster boys for export recovery

Virus response helps make China, Taiwan, Vietnam poster boys for export recovery

China, Taiwan and Vietnam were among the only economies who brought the spread of the coronavirus under control early on, resulting in strong trade recoveries.

A new study has confirmed the polarised impact the coronavirus pandemic has had on the global trade recovery, with East Asian economies powering ahead of those in the West.

China, Taiwan and Vietnam are the only major trading economies whose exports have recovered strongly, with all three reporting strong growth in the third quarter of 2020, according to research by the United Nations Conference on Trade and Development (Unctad).


Taiwan’s exports grew by 6.4 per cent in the third quarter from a year earlier.


The trio were among the only economies who brought the spread of Covid-19 under control early on – although the individual tactics employed
were very different.

Vietnam, whose exports surged by 10.9 per cent in the third quarter from a year earlier – the highest growth rate in the world, Unctad said – has reported only 1,141 cases of coronavirus as of Wednesday, with just 35 deaths.

China’s exports grew by 8.8 per cent in the third quarter, and while it had a crippling initial outbreak, with 85,715 cases and 4,634 deaths reported, the spread has slowed significantly and world’s most populous nation currently has only 247 active cases, thanks to severe and at the times controversial lockdown measures.

In Taiwan,exports grew by 6.4 per cent in the third quarter from a year earlier. It has reported a total of 543 cases of coronavirus, with only seven deaths since the start of the pandemic and none for more than six months.

Turkey was the only other nation within the Unctad dataset to show a recovery in exports, although this was only marginal 0.7 per cent.

In contrast, many other economies are still suffering from large numbers of infections and an inability to kick-start their trade economies, with exports from Japan, the United States and the European Union shrinking by between 11.6 and 9.7 per cent year on year in the third quarter, according to the Unctad’s Global Trade Update.

“No region was spared from the fall in international trade in the second quarter of 2020, but the sharpest decline was for the West and South Asia regions, where imports dropped by 35 per cent and exports by 41 per cent. As of July, the fall in trade remains significant in most regions except for East Asia,” wrote Unctad’s economists, who highlighted “China’s notable recovery”, with imports also bouncing back in recent months.

The economists also found major divergences between poorer and richer nations in terms of economic recovery, but also access to traded medical goods.

While exports from developing nations fell by 6 per cent year on year in July, developed nations saw their shipments fall 22 per cent. This shows the structural nature of value chains, with poorer nations generally making things that are consumed in richer nations.

But these richer nations, despite their trade economies remaining sluggish, have “100 times” more access to essential Covid-19 fighting medical goods, per capita.

“While it should be expected that the increase of per capita imports of Covid-19 products would be larger for wealthier countries, the sheer difference is staggering,” Unctad’s analysts wrote.

This imbalance will stymie the global recovery from the pandemic, they added, and does not bode particularly well for even distribution of vaccines in the future.

China GDP: economy grew by 4.9 per cent in third quarter of 2020


“While at least some low-income countries have the capacity to locally manufacture some protective equipment, this may not be the case for vaccines as manufacturing and logistic capacities are generally weaker in poorer countries,” Unctad’s analysts added.

China’s trade recovery has helped revive its economy, following a historic 6.8 per cent contraction in the first quarter. Chinese gross domestic product grew by 4.9 per cent year on year in the third quarter,with services providing an additional engine of growth, after manufacturing and exports powered the rebound of 3.2 per cent in the second quarter.

Nonetheless, exports remain a fundamental part of the recovery. China’s share of global exports rose from 13.3 per cent at the end of 2019 to 17.2 per cent in the second quarter of 2020, according to Oxford Economics.

Unctad said that the global medical supplies trade peaked in May at 74 per cent growth year on year. The World Trade Organization previously estimated that China was responsible for 44 per cent of all personal protective equipment trade in the first half of 2020.

Newsletter

Related Articles

0:00
0:00
Close
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
A new faith called Robotheism claims artificial intelligence isn’t just smart but actually God itself
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
×