 "geopolitics, foreign policy, politics, global politics, look east, asean, india-asean, asia")
Even while the uncertainties of the pandemic continue, global trade has shown healthy signs of recovery since the last quarter of 2020 (Global Trade Update, UNCTAD, February 2021). In the first quarter of 2021, the rebound strengthened, with a 10 per cent year-over-year and 4 per cent quarter-on-quarter growth, with trade volumes having exceeded pre-pandemic levels. Goods trade has been in the lead in both quarters. Services trade has lagged behind.
The WTO goods trade Barometer, a composite leading indicator for world trade, with a value of 109.6 in May 2021, relative to an index value of 103.9 in the fourth
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