Trade Policy Trends: COVID-19, the Great Trade Collapse, and Canadian Trade Policy

  • Eugene Beaulieu
  • Dylan Klemen

Abstract

COVID-19 led to a marked decline in global trade.  Canadian trade also dropped significantly.  This led commentators to compare the COVID-19 pandemic to the Great Trade Collapse of 2008.  This paper compares both crises and finds that Canada’s total trade (imports + exports) has almost entirely recovered since COVID-19 began.  In contrast, Canada took much longer to recover from the collapse caused by the Great Trade Collapse.

Published
2021-02-11
Section
Communiqués