The coronavirus pandemic has hit the global economy hard and caused international trade to plummet. Being part of global value chains, German SMEs have also been affected by falling demand and disruptions in production abroad. The crisis experience is likely to prompt many businesses to review and adapt their sales and procurement strategies in the long term. In particular, SMEs whose own supply chains were disrupted by the coronavirus crisis expect many businesses to withdraw from global value chains.

Globalisation lost momentum even before the coronavirus hit. This trend could intensify further if an increased focus on national interests were the response to the global recession. Hampering international trade reduces options for diversifying country-specific risks. Improved international cooperation is therefore more important than ever.

Short-term shock with lasting effects: The coronavirus crisis and international value chains(PDF, 230 KB, non-accessible)

Further information on the Corona crisis

Further information Germany's strong link to the global economy

Press release