Problems and prospects for the development of maritime trade in the COVID-19 pandemic

Abstract

International trade is influenced by many factors: the development and deepening of the labor international division and the production internationalization; trade growth and economic integration with the common markets formation, free trade zones; international trade liberalization, reduction of the level of protectionism and trade barriers. The very first form of international trade was sea trade, since one of the oldest modes of transport is sea transport, which still retains its primacy in cargo transportation. Sea trade is a form of international economic relations, international trade in goods, the delivery of which is carried out using sea transport. The article examines the current state and trends in the maritime trade development, identifies the main problems of the maritime industry and the risks that threaten the development of maritime trade in a pandemic, analyzes the prospects for the development of trade with the participation of maritime transport in the world and in Ukraine. Trade tensions have triggered a restructuring of global maritime trade, as the search for alternative markets and suppliers has redirected flows from China to other markets, especially in Southeast Asia. UNCTAD experts note that the impact of COVID-19 on trade was most severe in the first half of 2020, when trade volumes fell by 15%. But many countries never recovered by the end of the year. On the other hand, some states were able to successfully withstand new challenges and achieved an increase in their share in the world market, displacing from it the least competitive suppliers, which suffered as a result of reduced demand. The analysis showed that the structure of Ukraine's maritime trade was quite resistant to the emergence of coronavirus. And the significant share of agricultural products in production and exports is a confirmation of this fact. For the development of Ukraine's maritime trade and integration into the world economic system, it is necessary to develop and implement the capabilities of the national maritime economic complex, to protect the interests of Ukraine as a maritime power in the foreign policy and foreign economic spheres.

Keywords

• maritime trade, covid-19 pandemic, export, import, maritime policy