Globalisation increased moderately in 2021. However, it has not fully recovered from the effects of the COVID-19 pandemic and remains below its 2019 level. The most globalised country is Switzerland, followed by Belgium and the Netherlands. While economic globalisation is showing signs of recovery, social globalisation is characterised by ongoing restrictions owing to the pandemic.
Historically, globalisation has often been influenced by significant events: the COVID-19 pandemic was one such event. Following a sharp decline in 2020 due to the pandemic and the resulting collapse of trade and international relations, the KOF Globalisation Index for 2021 is recovering slightly, although it will not reach its pre-pandemic level of 2019.
Economic globalisation increased in 2021
While the overall conditions for economic globalisation (de jure) have remained largely stable, significant growth in trade (de facto) has been evident. This is mainly due to the sharp rise in consumer spending on goods after the pandemic year of 2020. Trade in services, on the other hand, has remained subdued. In addition, financial integration has decreased, possibly because of greater market volatility and investor caution in the uncertain economic environment following the pandemic.
Social globalisation declined slightly overall in 2021
This situation was influenced by opposing tr
