Global trade enjoyed a record rebound in the first quarter of 2021, according to UN estimates, growing 10 per cent year-on-year largely on the back of booming exports from East Asia.                                                      

Countries in the region thrived after “early success in pandemic mitigation,” which “allowed them to rebound faster and to capitalize on booming global demand for Covid-19 related products,” the United Nations Conference on Trade and Development (UNCTAD) said in a report published on Wednesday.

China, Singapore, South Korea, Taiwan and Vietnam have been among the nations reporting relatively low virus-related death tolls and surging exports, DPA reported.

Health care products, digital services and “home office” equipment were in high demand last year, UNCTAD said, though international travel and hospitality services lagged.

“Consumer behaviour has substantially changed,” UNCDTAD said, warning that “some of this may be enduring.”