List of figures
|Figure 1.1||Commonwealth countries' global exports of goods and services, 2005-2019|
|Figure 1.2||Evolution of Commonwealth members' exports, by development level and sector, 2005-2019|
|Figure 1.3||Trade performance and composition of Commonwealth small states' exports, 2005-2019|
|Figure 1.4||Share of Commonwealth services exports in GDP by region, 2019|
|Figure 1.5||Leading services exporters and key services sectors, 2019|
|Figure 1.6||Share of average trade costs between Commonwealth trade partners vs. others, 1995-2018|
|Figure 1.7||Trends in intra-Commonwealth exports of goods and services, 2005-2019|
|Figure 1.8||Relative significance of intra-Commonwealth merchandise trade in member countries' total trade, 2017-2019 average|
|Figure 1.9||Relative significance of intra-Commonwealth services exports in member countries' total services exports, 2017-2019 average|
|Figure 1.10||Regional distribution of intra-Commonwealth trade, 2010 vs. 2019|
|Figure 1.11||Share of goods and services exports for leading exporters, by region, 2019|
|Figure 1.12||Shares of large intra-Commonwealth merchandise traders, 2019|
|Figure 1.13||Intra-Commonwealth merchandise exports by sector and region, 2019|
|Figure 1.14||Country shares of intra-Commonwealth services exports and imports, 2019|
|Figure 1.15||Regional and sectoral distribution of intra-Commonwealth services exports, 2019|
|Figure 1.16||Growth rate of intra-Commonwealth services exports, 2005-2019 average|
|Figure 1.17||Servicification of intra-Commonwealth trade over time|
|Figure 1.18||Commonwealth market share and GDP drop for large export markets (%)|
|Figure 1.19||Impact of the COVID-19 pandemic on Commonwealth countries' global exports in 2020|
|Figure 1.20||COVID-19 shock and intra-Commonwealth trade flows in goods and services, 2019 vs. 2020|
|Figure 1.21||Impact of the pandemic on Commonwealth merchandise exports, December 2019 to December 2020|
|Figure 1.22||Monthly variation in commodity price indices in 2020|
|Figure 1.23||COVID-19 impact on services exports of selected Commonwealth countries, 2020 vs. 2019|
|Figure 1.24||Potential COVID-19 pandemic effects on services trade|
|Figure 1.25||Trade performance of LDCs during Istanbul Programme of Action|
|Figure 1.26||Commonwealth's trade prospects in the short to medium term, 2019-2022|
|Figure 2.1||Commonwealth trade (exports and imports) in ICT goods, 2010-2019|
|Figure 2.2||Distribution of Commonwealth ICT goods trade (exports and imports), 2010-2019|
|Figure 2.3||Distribution of intra-Commonwealth trade in ICT goods, 2019|
|Figure 2.4||Main intra-Commonwealth exporters and importers of digitisable products, 2017-2019 (cumulative)|
|Figure 2.5||Commonwealth global trade (exports and imports) in ICT services, 2010-2019|
|Figure 2.6||Commonwealth trade (exports and imports) in digitally deliverable services, 2011-2019|
|Figure 2.7||Regional shares of total Commonwealth trade (exports and imports) in digitally deliverable services, 2011 and 2019|
|Figure 2.8||Top 10 Commonwealth countries by value of trade (exports and imports) in digitally deliverable services, average 2017-2019|
|Figure 2.9||Top 10 Commonwealth countries by value of trade (exports and imports) in digitally deliverable services per 1,000 people, average 2017-2019|
|Figure 2.10||Commonwealth countries' performance on the 2020 B2C E-Commerce Index|
|Figure 2.11||Online shoppers as a share of internet users and total population in Commonwealth countries, latest available year between 2017 and 2019|
|Figure 2.12||Changes in announced greenfield FDI inflows to communications and software and IT services sectors in the Commonwealth, 2019 vs. 2020|
|Figure 2.13||Trends in India's exports in ICT services and key export markets|
|Figure 2.14||Share of the populations of Commonwealth countries using the internet, 2019|
|Figure 2.15||Affordability and regulation factors affecting access to the internet in the Commonwealth|
|Figure 3.1||FDI inward stock in the Commonwealth, 2010-2019|
|Figure 3.2||Distribution of FDI inward stock in the Commonwealth, 2019|
|Figure 3.3||Total value of FDI inflows into the Commonwealth, 2010-2019|
|Figure 3.4||Top 10 hosts of bilateral FDI inflows into the Commonwealth, 2017-2019 (cumulative)|
|Figure 3.5||Intra-Commonwealth FDI instock (US$ billion), 2010-2019|
|Figure 3.6||Total value of intra-Commonwealth FDI flows, 2010-2019|
|Figure 3.7||Top 10 investors and hosts of intra-Commonwealth FDI inflows by value, 2017-2019 (cumulative)|
|Figure 3.8||Aggregate value and share of announced greenfield FDI inflows to the Commonwealth, 2010-2019|
|Figure 3.9||Sectoral composition of announced intra-Commonwealth greenfield FDI inflows, 2017-2019 (cumulative)|
|Figure 3.10||Top 10 sources and destinations for intra-Commonwealth greenfield FDI in the renewable energy sector, by value of cumulative capital investment 2010-2019|
|Figure 3.11||Number and aggregate value of announced intra-Commonwealth greenfield FDI projects by Commonwealth region and quarter, average 2017-2019 vs. 2020|
|Figure 3.12||Changes in sectoral composition of announced greenfield investment in the Commonwealth, 2017-2019 average vs. 2020|
|Figure 3.13||Changes in sectoral composition of intra-Commonwealth greenfield FDI, by Commonwealth region, 2017-2019 average vs. 2020|
|Figure 3.14||Announced Chinese greenfield FDI in the Commonwealth, 2017-2019 average vs. 2020 (US$ million)|
|Figure 4.1||Average Commonwealth export growth to the USA for tariffed and non-tariffed products|
|Figure 4.2||TFA implementation by Commonwealth developing countries as of 19 March 2021|
|Figure 4.3||Share of Commonwealth African members in intra-Africa trade, 2010-2019|
|Figure 5.1||The Commonwealth's rising trade with China, 2000-2019|
|Figure 5.2||Share of Commonwealth merchandise and services exports to the UK, 2017-2019 average|
|Figure 5.3||Potential short- and medium-term impacts on Commonwealth countries' exports, 2021-2025|
|Figure 5.4||Contribution of tourism to GDP and employment in Commonwealth small states, 2019|
|Figure 5.5||Commonwealth countries' performance on the Readiness for Frontier Technologies Index, by country and region|
List of Tables
|Table 1.1||Commonwealth countries' pre-pandemic export profile, 2019|
|Table 1.2||The Commonwealth effect on trade costs|
|Table 1.3||Share of goods and services in intra-Commonwealth exports, 2019|
|Table 1.4||Regional variation in COVID-19 impact on intra-Commonwealth trade (US$ million), 2019 vs. 2020|
|Table 1.5||Modelling results: COVID-19 effect on Commonwealth countries' merchandise exports (% decrease)|
|Table 2.1||Commonwealth global and intra-Commonwealth trade (exports and imports) in ICT goods, by level of economic development and region, 2010 and 2019|
|Table 2.2||Commonwealth global trade (exports and imports) in ICT services, by level of economic development and region, 2010 and 2019|
|Table 2.3||Intra-Commonwealth ICT services exports, average 2017-2019|
|Table 2.4||B2C e-commerce sales for selected Commonwealth countries, 2017 and 2018|
|Table 2.5||Announced greenfield investment in communications and software and IT services|
|Table 2.6||Broadband costs and tariffs on network equipment in the Commonwealth|
|Table 3.1||The Commonwealth effect in FDI flows - gravity model results|
|Table 3.2||Jobs created through announced greenfield FDI in the Commonwealth, 2010-2019|
|Table 3.3||Top 10 sources and hosts of announced intra-Commonwealth greenfield FDI inflows to Commonwealth members, by cumulative value, 2017-2019|
|Table 3.4||COVID-19 shock and FDI inflows to Commonwealth countries, average for 2017-2019 vs. 2020|
|Table 3.5||Job creation and employment intensity of intra-Commonwealth greenfield FDI, by country group, 2017-2019 average vs. 2020|
|Table 3.6||Sectoral implications of COVID-19 for intra-Commonwealth greenfield FDI, 2017-2019 average vs. 2020|
|Table 3.7||COVID-19 impacts and future investment prospects for selected sectors|
|Table 5.1||The significance of the UK sugar market to Commonwealth ACP countries, 2017-2019 average|
|Table 5.2||Nature of the UK's import regime for Commonwealth countries, March 2021|
|Table 5.3||DEPA key policy areas|
|Table 5.4||Policy areas for revitalising Commonwealth trade|
List of Boxes
|Box 1.1||Trade costs advantage in intra-Commonwealth trade|
|Box 1.2||Rising servicification trends in Commonwealth developing and developed countries|
|Box 1.3||COVID-19 and economic contractions in the Commonwealth's largest export markets|
|Box 1.4||Linkages between COVID-19 infections and merchandise exports in the Commonwealth|
|Box 1.5||COVID-19 hits garments manufacturing in the Commonwealth|
|Box 1.6||Commodities exports and COVID-19|
|Box 1.7||Drop in services exports during the COVID-19 pandemic|
|Box 1.8||Entrepreneurship, trade and women's economic empowerment|
|Box 1.9||Switching modes? COVID-19 and the education services exports of Australia and Canada|
|Box 2.1||What is cross-border digital trade?|
|Box 2.2||Africa and the digital delivery of creative content|
|Box 2.3||COVID-19 leads to growth in exports and e-commerce sales|
|Box 2.4||India's ICT services exports and the pandemic|
|Box 2.5||Providing internet access in the Commonwealth: what can we learn from the top performers?|
|Box 3.1||Trade and investment linkages, and broader FDI benefits|
|Box 3.2||The intra-Commonwealth advantage in investment|
|Box 3.3||Investors set their sights on renewables in the Commonwealth|
|Box 3.4||COVID-19 has exacerbated gender imbalances in investment|
|Box 3.5||China's growing influence on infrastructure investment in the Commonwealth|
|Box 4.1||Implications of the USA-China trade conflict for Commonwealth countries|
|Box 4.2||The WTO goes virtual: opportunities and challenges for developing countries|
|Box 4.3||Trade responses to the pandemic|
|Box 4.4||Examples of Commonwealth trade facilitation measures in response to COVID-19|
|Box 4.5||Doha Declaration on TRIPS and Public Health|
|Box 4.6||The AfCFTA: a game changer for Africa's continental and global trade|
|Box 4.7||RCEP and trade and investment implications for the Commonwealth|
|Box 4.8||Towards “Factory Southern Africa”|
|Box 5.1||Commonwealth trade linkages with China beyond the pandemic|
|Box 5.2||The UK sugar market: a sweet or sticky deal for the ACP?|
|Box 5.3||Potential implications of future UK FTAs for Commonwealth countries|
|Box 5.4||Maldives leads the way in driving tourism recovery and a return to the “old normal”|
|Box 5.5||Rwanda bets big on digitally led development|
|Box 5.6||The Digital Economy Partnership Agreement - a model for the future?|
|Box 5.7||Commonwealth Connectivity Agenda Initiatives 2021|
Abbreviations and Acronyms
Alliance for Affordable Internet
African, Caribbean and Pacific
African Continental Free Trade Area
African Export-Import Bank
Aid for Trade
Asian Infrastructure Investment Bank
African Medical Supplies Platform
autonomous tariff rate quota
African Union Commission
Balanced Trade in Statistics
Belt and Road Initiative
Caribbean Public Health Agency
Commonwealth Connectivity Agenda
Comprehensive Economic Co-operation and Partnership Agreement
Commonwealth Heads of Government Meeting
Conference of the Parties
Comprehensive and Progressive Agreement for Trans-Pacific Partnership
Development Assistance Committee
digitally deliverable services
Digital Economic Partnership Agreement
duty-free and quota-free
Department for International Trade
Digital Silk Road
Dispute Settlement Understanding
Everything But Arms
Economist Intelligence Unit
economic partnership agreement
Eastern and Southern Africa
foreign direct investment
Forum Island Country
Forum on China-Africa Co-operation
free trade agreement
General Agreement on Trade in Services
gross domestic product
German Development Corporation
gross national income
Generalised Scheme of Preferences
Global Trade Analysis Project
global value chain
International Chamber of Commerce
information and communication technology
International Finance Corporation
International Labour Organization
International Monetary Fund
Internet of Things
Istanbul Programme of Action
intellectual property rights
International Trade Centre
International Telecommunication Union
illegal, unreported and unregulated
least developed country
mergers and acquisitions
micro, small and medium enterprises
New Development Bank
Organisation of African, Caribbean and Pacific States
Organisation for Economic Co-operation and Development
Organisation of Eastern Caribbean States
original equipment manufacturing
Ordinary Least Squares
Pacific Agreement on Closer Economic Relations
Pacific Humanitarian Pathway for COVID-19
Poisson Pseudo Maximum Likelihood
research and development
Regional Comprehensive Economic Partnership
Rwanda Electronic Single Window
rules of origin
rest of world
regional trade agreement
South Asian Association for Regional Co-operation
Southern African Customs Union
Southern African Customs Union and Mozambique
Sustainable Development Goal
small island developing state
small and medium enterprises
sanitary and phyto-sanitary
technical barrier to trade
Trade and Co-operation Agreement
Trade Facilitation Agreement
trade, investment and development co-operation agreement
Trade in Services by Mode of Supply
Trade-Related Aspects of Intellectual Property Rights
UK-Singapore Free Trade Agreement
United Nations Commission on International Trade Law
United Nations Conference on Trade and Development
United Nations Economic and Social Commission for Asia and the Pacific
United Nations Framework Convention on Climate Change
United Nations World Tourism Organization
United States of America
World Development Indicators
World Economic Forum
World Health Organization
World Intellectual Property Organization
World Integrated Trade Solution
World Trade Organization
World Travel & Tourism Council
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