By Isabelle Durant, Acting Secretary-General of UNCTAD
As the world continues to battle the unprecedented COVID-19 health crisis, UNCTAD warns that the growing gap between the number of COVID-19 shots given in developed and developing countries will likely deepen existing socioeconomic inequalities. Vaccine doses administered per 100 people vary greatly across countries. It’s concerning that Africa is far behind. By 31 March, only 0.6% of the continent’s population had been vaccinated, compared with 2.1% in Asia, 12.7% in Europe, 6.7% in South America and 18.8% in North America.
Also, alarmingly, the pandemic has already pushed upwards extreme poverty estimates for 2020 and 2021. They indicate that between 119 and 124 million people fell into extreme poverty in 2020, with an additional 143 to 163 million people expected to follow this year. These estimates are very worrying because it’s the first significant increase in global extreme poverty in the past two decades.
On a positive note, the global economy is recovering faster than initially expected, according to UNCTAD data. It’s projected to grow by close to 5% in 2021, a growth rate not seen in more than a decade. But the recovery is uneven. Developed countries will experience a stronger rebound in GDP growth than developing ones, leading to worries about further expanding the gap between rich and poor nations. Mistakes from past crises, such as the 2008 financial crisis, must be avoided.
New portal tracks COVID-19’s impact on trade and development
To "build back differently," the world needs updated information on how COVID-19 is impacting our economies, societies and environment. To this end, UNCTAD has unveiled a new portal providing data and analyses for over 25 indicators. Our objective is to enhance policymakers’ understanding of the pandemic’s wide-ranging impact and help them design suitable policies, so that recovery efforts lead to a more inclusive and sustainable future.
Much uncertainty remains and the data continues to change, hence UNCTAD urges policymakers to closely monitor the constantly evolving situation. The portal is an update to UNCTAD’s report, “Impact of the COVID-19 pandemic on trade and development - Transitioning to a new normal,” issued in November last year. It complements previous indicators with new data where relevant and available, notably on the rollout of COVID-19 vaccinations.
Contact person: Isabelle Valentiny, Chief of Staff, a.i. : isabelle.valentiny@un.org
