New data from Tradeshift’s Index of Global Trade Health points to a significant recovery in global supply chain activity, with quarterly growth rates exceeding pre-pandemic levels by 14%.
For example, supply chain activity in the Eurozone rose 22% compared to the previous quarter. And, digitized invoicing and ordering data suggests a strong end to 2020 in the United States.
- UK recovery is losing ground, with trade activity finishing the year 36% below the pre-COVID-19 level in March 2020.
- Trade activity in Western economies has only recently shown signs of returning to growth, with businesses in China operating at near-normal capacity since April 2020.
- Retail led the way in Q4, reporting transaction growth of 34%.
- Lack of supplier liquidity was a key theme throughout 2020, and will remain a significant challenge going into 2021, according to the data.