Trade Policy Monitoring: Food, Fuel, Raw Materials
The latest: Since the beginning of the year, there has been a surge in trade-related policy measures imposed on essential goods (including food and fertilizers), and other key inputs exported by Russia and Ukraine (fuels and raw materials) [eg – trade restrictions rise between July 31st—our last update—and September 7th, 2022]
Many countries are using trade policy measures to maintain access to supplies of food, fuels, and essential raw materials that have been disrupted by the war in Ukraine. Measures include restrictions or outright bans on exports as well as steps, such as temporary tariff cuts, to increase imports. The actions risk further driving up prices and limiting supplies of essential goods. In the case of foods, they have contributed to rising food insecurity in many developing countries. To promote transparency, the World Bank and Global Trade Alert are monitoring these policy measures and assessing their potential impact on trade and international prices. Data are gathered from official sources, news reports, and other public sources and cover types of measures, countries, and the dates they were announced, implemented, or removed. The data set is updated every month and can be downloaded here. [link]