DIGITAL TRADE IN GLOBAL MARKETS: TRENDS AND CHALLENGES

Abstract

The study is dedicated to highlighting trends and challenges related to the development of digital trade in global markets. The purpose of the study is to highlight the trends and challenges associated with the development of digital trade in global markets, taking into account the possibility of ensuring economic growth and achieving the Sustainable Development Goals. The Covid-19 pandemic has significantly changed trade structures and contributed to the growth of online shopping and services in global markets. The accelerated trend towards the development of digital trade led to a number of issues that must be resolved for economic recovery. Technological innovations and digital trade methods are enabling businesses of all sizes to participate in global trade through adaptive supply chains, lower costs and increased market reach. For the successful development of digital trade in global markets, it is necessary to take into account both trends and challenges. As part of the current research, the author has identified certain key trends in the development of digital trade in global markets. The negative sides that the economic system of the world has had since the pandemic in terms of digital trade on global markets have been identified. Outlining the negative trends, it became clear that digital trade needs recovery and development. Despite the growth opportunities offered by digital commerce, the pandemic has exposed several significant and long-standing barriers to realizing the benefits of digital transformation. A system for the development of digital trade on global markets is proposed. The successful development of digital trade in global markets is possible thanks to the interaction of government policy and business. Building the right and optimal strategy, taking into account digitalization, will make it possible to ensure economic growth and the achievement of the Sustainable Development Goals.