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Global ocean freight |The 27 EU countries approved the 800 billion euro economic recovery plan, and the global trade in goods continued to pick up

May 27 2021

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According to the news released by the European Council on June 1, after the 27 EU countries have completed their respective domestic approval procedures, the decision to increase the "own resources" revenue in the EU's long-term budget officially came into effect on June 1, local time. This marks the start of the EU's economic recovery plan, and the recovery fund can be immediately raised in June.
Since the European Commission, on behalf of its Member States, needs to raise funds in the international capital market with long-term budget as guarantee, it is a prerequisite to temporarily increase its "own resources" income. At current prices, it plans to raise up to 800 billion euros from international capital markets between 2021 and 2026. According to the economic recovery plans submitted and approved by the Member States, the European Commission allocates funds in the form of a combination of appropriations and loans.
Global trade in goods continues to pick up
The World Trade Organization novel coronavirus pneumonia trade released in May 28th, the World Trade Organization (WTO) released in May 28th, shows that global merchandise trade will continue to recover in 2021, after a sharp decline in the last second quarter due to the new crown pneumonia epidemic.
It is understood that the "barometer of trade in goods" regularly released by the WTO has been regarded as a comprehensive leading indicator of Global trade. The current reading of the barometer is 109.7, nearly 10 points higher than the benchmark value of 100, with a year-on-year increase of 21.6 points. This reading reflects the strong recovery of Global trade in goods under the epidemic situation, and indirectly reflects the depth of the impact of the epidemic on Global trade in goods last year.

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