In 2021, most economies began to recover from the historic COVID-19 pandemic-induced contraction of 2020. The global economy recorded its strongest post-recession recovery in 80 years, with growth estimated at 5.9 percent in 2021 from a contraction of 3.1 percent in 2020, owing to a relaxation of pandemic-related lockdowns in several countries which boosted demand. However, the pace of recovery was uneven across sectors. Notwithstanding this overall outturn, the emergence of more transmissible variants (Delta and Omicron) of the COVID-19 virus and persistent supply chain bottlenecks (caused by factory and port shutdowns, weather-induced logistical obstacles, shortages of semi-conductors and shipping containers) weighed down on global production and trade in the second half of 2021…