Journal Press India^®

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The spread of coronavirus has damaged the global economy very severely. Covid-19 pandemic has pushed the world into the most acute trade contraction. Trade of goods and services in India suffered a lot due to Covid-19 pandemic. It has adversely affected India’s international trade. This exceptional crisis has resulted a contraction in the trade volume of commodities. The pandemic shocked India and Argentina into the utmost severe trade shrinkage since the global financial crisis. Covid-19 pandemic has caused a sharp drop in international trade. India unified with the global economy in an unparalleled reduction in trade in 2020-21, pulled down by the Covid-19 pandemic. It has badly affected India’s trade foundations. The entire world is facing the biggest crisis and both India and Argentina have been affected by the devastating Coronavirus disease. The commodity exports from Argentina had fallen by 2.4 percent in 2019. In view of the bilateral trade between India and Argentina, this study examines the impact of Covid-19 pandemic on the exports, imports and terms of trade between India and Argentina. To analyse the trade pattern from 2001 to 2020, data is obtained from UNCOMTRADE database and for the terms of trade analysis, data is derived from UNCTAD. Net Barter Terms of Trade (NBTOT), Gross Barter Terms of Trade (GBTOT) and Income Terms of Trade (ITOT) are used to analyse the terms of trade of India and Argentina during the Covid -19 pandemic. This study highlights a severe change in India’s trade pattern with Argentina and also there are fluctuations in terms of trade due to the outbreak of Covid-19 at the world level. India’s exports and imports to Argentina declined resulting a sharp deterioration in terms of trade after the spread of Covid-19 pandemic. Policymakers should try to find out a comprehensive economic strategy to combat with this unparalleled scenario in the post covid-19 pandemic world. Systematic opening of the economies and regulating to “New Normal” is the need of the time.

Keywords

India and Argentina trade, Covid-19 pandemic, Trade Pattern, Terms of Trade

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