Post-Pandemic Effects on International Trade

Abstract

The article analyzes the consequences and effects of the pandemic on the international trade and focuses on the prospects for exchanges within global value chains, which are undergoing a substantive transformation under the current circumstances. The relationship between the localization of supply chains and the dynamics of international exchanges is assessed. The risk factors to be managed in ensuring sustainability of international trade are identified. The study shows that expansion of the domestic production will result in the trade contraction, but could serve as a powerful determinant of economic growth as it used to be, particularly in overcoming the current crisis. Therefore, no threats and barriers to international trade should be created.