More from UN DESA - July 2021

Robust economic recovery is underway — for some

The past few months have brought a string of upbeat news on the global economy, suggesting a vigorous recovery from the COVID-19 crisis may be under way. But are these developments too good to be true?

World merchandise trade and industrial production have indeed soared and are already well above the pre-pandemic levels. Prices of key raw materials have reached record levels, with oil prices having climbed to a two-year high. Against this backdrop, macroeconomic forecasters have raised their global growth projections for 2021 and 2022 – often by a lot.

Will the pandemic trigger a baby boom or baby bust?

Today, there are about 7.9 billion people in the world. The population will continue to grow in the coming decades, albeit at a progressively slower pace. Whereas the COVID-19 pandemic is unlikely to affect this trajectory in the long run, it is expected that, in the short run, some countries will experience a baby boom, whereas other countries may face a baby bust as a result of the pandemic.