Questions and answers about
the UK economy.

How much of China and world GDP has the Coronavirus reduced?

Using a network approach, we estimate the output loss due to the lockdown of the Hubei province triggered by the coronavirus disease (Covid-19). Based on our most conservative estimate, China suffers about 4% loss of output from labor loss, and global output drops by 1% per period due to the economic contraction in China. About 40% of the impact is indirect, coming from spillovers through the supply chain inside and outside China.

Lead investigator:

Shaowen Luo

Affiliation:

Virginia Tech

Primary topic:

Recession & recovery

Region of data collection:

Asia and Oceania

Country of data collection

China

Status of data collection

Complete

Type of data being collected:

Administrative

Unit of real-time data collection

Country

Start date

1/2020

End date

1/2020

Frequency

One-off

Read the results from this research