The Tradeshift Index of Global Trade Health Q2 2021
June 21, 2021 Tradeshift Editorial Team
our platform to reveal a timely perspective of how external events are impacting business to-business commerce around the world.
Q2 index highlights at a glance
• Global transaction volumes rose 9% in Q2, a slight slowdown compared to the
previous quarter, suggesting supply chain activity levels are becoming less volatile.
• Trade activity levels in China appear to be slowing however. For the second quarter in a row, transaction volumes in China dropped by more than 20%
• The US is now leading the recovery in trade activity globally having surpassed
China in Q2. Quarterly transaction volumes in the US have risen 145%, cumulatively, over the past year, compared to 125% growth in China.
• In the Eurozone, transaction volumes rose by 21% in Q2, more than double the global average.
• The UK recovery appears to be lagging. Quarterly transaction volumes dropped
15% in Q2, and cumulative growth is 59% below the pre-COVID level in March 2020.
• The global liquidity crunch on suppliers is turning into a chasm. Total order
volumes on Tradeshift surged 35% in Q2, but the total volume of supplier invoices processed rose just 2%.
• Manufacturing and retail transaction volumes remained unusually high in Q2
amid concern that the current demand spike is putting pressure on suppliers.
• Business travel spend is recovering, but is still 30% below the pre-COVID level .
Corporate hospitality spending is 81% lower than it was prior to the pandemic.