This paper examines how COVID-19 vaccinations change international trade. We analyze monthly level trade data from January 2020 to March 2022 that cover the bilateral exports from 40 reporting countries to 220 partner countries. Our findings can be summarized as follows. On average, the effects of vaccination rates in importing and exporting countries on exports were found to be insignificant. When considering the income level, we also did not find significant effects of vaccination rates in high- and low-income importing countries on exports. In contrast, the rise of vaccination rates in low-income exporting countries significantly increased their exports though no significant increase in exports was detected when vaccination rates rose in high-income exporting countries. These results imply that since low-income countries are mainly engaged in labor-intensive industries, the relaxation of lockdown orders (i.e., movement and gathering restrictions) driven by the rise of vaccination rates plays a crucial role in production activities in low-income countries.

中文翻译：

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大流行时代疫苗接种对国际贸易的影响

本文研究了 COVID-19 疫苗接种如何改变国际贸易。我们分析了 2020 年 1 月至 2022 年 3 月的月度贸易数据，涵盖了从 40 个报告国到 220 个伙伴国的双边出口。我们的发现可以总结如下。平均而言，进口国和出口国的疫苗接种率对出口的影响不大。在考虑收入水平时，我们也没有发现高收入和低收入进口国的疫苗接种率对出口有显着影响。相比之下，低收入出口国疫苗接种率的上升显着增加了他们的出口，尽管当高收入出口国的疫苗接种率上升时出口没有显着增加国家。这些结果意味着，由于低收入国家主要从事劳动密集型产业，疫苗接种率上升推动的封锁令（即行动和聚集限制）的放松对低收入国家的生产活动起着至关重要的作用.