Miteva-Kacarski, Emilija and Cabuleva, Kostadinka and Georgieva Svrtinov, Vesna (2020) The impact of the Covid-19 pandemic on international trade. Knowledge - International Journal, Scientific Papers, 40 (1). pp. 127-131. ISSN 2545-4439
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Abstract
Covid-19 is rapidly changing the world. World trade is expected to fall by between 13% and 32% in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world. The wide range of possibilities for the predicted decline is explained by the unprecedented nature of this health crisis and the uncertainty around its precise economic impact. The increasing spread of the virus has caused a significant amount of governments to introduce measures that shut down businesses temporarily and have restricted travel and the movement of people. These measures will lead to sharp contractions in the level of output, household spending, investment and international trade. Estimates of the expected recovery in 2021 are equally uncertain, with outcomes depending largely on the duration of the outbreak and the effectiveness of the policy responses.
Keywords: COVID-19, world trade, economic shock, global financial crises.
| Item Type: | Article |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Emilija Miteva |
| Date Deposited: | 16 Sep 2020 06:41 |
| Last Modified: | 16 Sep 2020 06:41 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/24450 |
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