The global financial crisis wreaked havoc on the world economy and severely impaired trade flows between countries. A steep drop in export prices exacerbated the downward pressure on export revenues. The rebound in trade flows during 2009 and early 2010 was rapid. After 2010, however, global export growth tapered off and since then it has averaged only 2.5% year-on-year (y/y). Similarly export prices rebounded from the 2009 lows, but over the past three years have actually edged down slightly.  

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