文章基本信息

标题：The impact of supply bottlenecks on trade
本地全文：下载
作者：Erik Frohm ; Vanessa Gunnella ; Michele Mancini 等
期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2021
卷号：2021
语种：English
出版社：European Central Bank
摘要：Shipping disruptions and input shortages are leading to considerable bottlenecks in global supply chains. During the recovery phase of the coronavirus (COVID-19) pandemic, households increased their purchases of certain products, such as electronics and home improvement equipment, which caused a stronger-than-expected surge in demand, especially in some sectors. This rise in demand coupled with events beyond the reasonable control of suppliers (owing to force majeure), such as coronavirus outbreaks in ports, accidents at plants and adverse weather conditions, led to bottlenecks in the transport sector and caused shortages in specific inputs such as plastics, metals, lumber and semiconductors. [1] As inventories fell at the onset of the pandemic owing to the running-down of stocks and shortages of inputs resulting from closures and conservative inventory policies, companies struggled to keep up with the swift rise in demand and the replenishing of depleted stocks. This demand and supply imbalance is evidenced by the unprecedented lengthening of suppliers’ delivery times, especially in sectors relying on transportation and inputs from sectors experiencing shortages, namely computer and electronic equipment, machinery and equipment, wood products, motor vehicles and chemicals. Overall, in June the global PMI suppliers’ delivery times index dropped to an all-time low (meaning longer delivery times) since records began in 1999.