The end of the year 2019 was marked by the arrival of a virus that still continues to plague all corners of the world. It is COVID 19 whose arrival has not spared any sector of activity. This virus has negatively impacted all areas, especially the economy of all countries. In this article, you will see some of the impacts of the health crisis on the economy.
In the international trade sector
COVID 19 is a virus that is ravaging all countries. Its arrival has affected the economy enormously. Given its magnitude, leaders have taken measures to limit the damage. But these measures of containment and distance have become the evils that hit the economy. Indeed, these measures prevent the proper functioning of economic activities, especially in the international trade sector. In this sector, it is noted that the health crisis has considerably limited the movement of citizens, the free movement of goods and people. This has inevitably and involuntarily led to a reduction in the cost of basic products, particularly raw materials. The consequence is that the turnover of companies has considerably decreased.
Furthermore, it should be noted that, to date, due to the inactive nature of international trade, consumers are withdrawing their confidence. The consumer sector is the sector that has suffered the most from the negative effects of the health crisis, although it is strictly derived from international trade.
The drop in GDP
If there is another element that is a victim of the economic crisis, it is the gross domestic product of each country. It is noted that in the last two years the GDP of the states has decreased. In fact, the country of most of the countries has seen a decrease of more than 8%. This decrease is probably due to the health crisis of 2019. It is no longer to prove that the economy has been strongly affected by there epidemic. There are also the measures that are supposed to limit the spread of the virus that has seriously slowed down the economic activities.