Global economic impacts of COVID-19 lockdown measures stand out in high-frequency shipping data.

Global economic impacts of COVID-19 lockdown measures stand out in high-frequency shipping data.

Blog Article

The implementation of large-scale containment measures by governments to contain the spread of the COVID-19 virus has resulted in large impacts to the global economy.Here, we derive a new high-frequency indicator of economic activity using empirical vessel tracking data, and use it to estimate the global maritime trade losses during lava me 3 smart guitar the first eight months of the pandemic.We go on to use this high-frequency dataset to infer the effect of individual non-pharmaceutical interventions on maritime exports, which we use as a proxy of economic activity.Our results show widespread port-level trade losses, with the largest absolute losses found for ports in China, the Middle-East and Western Europe, associated with the collapse of specific supply-chains (e.

g.oil, vehicle manufacturing).In total, we estimate that global maritime trade reduced by -7.0% to -9.

6% during the first eight months of 2020, which is equal to around 206-286 million tonnes in volume losses and up to 225-412 billion USD in value losses.We k2 raygun 2023 find large sectoral and geographical disparities in impacts.Manufacturing sectors are hit hardest, with losses up to 11.8%, whilst some small islands developing states and low-income economies suffered the largest relative trade losses.

Moreover, we find a clear negative impact of COVID-19 related school and public transport closures on country-wide exports.Overall, we show how real-time indicators of economic activity can inform policy-makers about the impacts of individual policies on the economy, and can support economic recovery efforts by allocating funds to the hardest hit economies and sectors.