The impact of the COVID-19 pandemic on the digitalization process of world trade
DOI:
https://doi.org/10.31558/2307-2318.2021.4.25Keywords:
digitalization; COVID-19 pandemic; e-commerce; e-trade; digital transformation; Internet-tradingAbstract
The article is devoted to the study of the trend of digitalization of world trade in the context of the COVID-19 pandemic. The paper presents the dynamics of global Internet trade and its share in total trade during the period 2015-2020. The following trends were identified: the annual growth rate of e-commerce for the period 2015-2019 was approximately 20%, and in 2020 due to the pandemic COVID-19 the volume of e-commerce increased by 27.6% while reducing the total volume of retail trade by 3 %. The paper analyzes the regional division of e-commerce as of 2020. The analysis revealed that the Asia-Pacific region became the world leader in terms of sales. Also, the article provides an analysis of the growth rate of e-commerce. Based on the analysis, it is hypothesized that the COVID-19 pandemic has catalyzed a new wave of growth in e-commerce in the "old regions" – North America and Western Europe. The study shows the top ten countries in terms of e-commerce sales in 2019 and 2020. One change in the composition was revealed - instead of Russia in 2020, Spain joined the composition. The paper analyzes the changes in the volume and structure of ecommerce in China, the United States, Germany, France, Italy, the Netherlands, Greece, Poland and Ukraine. As a result of the study, it can be argued that the COVID-19 pandemic can be considered a real catalyst for further digitalization of trade.
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