Skip to main page content
U.S. flag

An official website of the United States government

Dot gov

The .gov means it’s official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.

Https

The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

Access keys NCBI Homepage MyNCBI Homepage Main Content Main Navigation
. 2021:1318:825-837.
doi: 10.1007/978-3-030-63761-3_46.

COVID-19 and Its Global Economic Impact

Zahra Kolahchi  1 , Manlio De Domenico  2   3 , Lucina Q Uddin  4   5 , Valentina Cauda  6   7 , Igor Grossmann  8   9 , Lucas Lacasa  9   10 , Giulia Grancini  11   12 , Morteza Mahmoudi  13   14 , Nima Rezaei  15   16
Affiliations

COVID-19 and Its Global Economic Impact

Zahra Kolahchi et al. Adv Exp Med Biol. 2021.

Erratum in

  • Correction to: COVID-19 and Its Global Economic Impact.
    Kolahchi Z, De Domenico M, Uddin LQ, Cauda V, Grossmann I, Lacasa L, Grancini G, Mahmoudi M, Rezaei N. Kolahchi Z, et al. Adv Exp Med Biol. 2021;1318:C1. doi: 10.1007/978-3-030-63761-3_54. Adv Exp Med Biol. 2021. PMID: 34902155 No abstract available.

Abstract

Pandemics are enormous threats to the world that impact all aspects of our lives, especially the global economy. The COVID-19 pandemic has emerged since December 2019 and has affected the global economy in many ways. As the world becomes more interconnected, the economic impacts of the pandemic become more serious. In addition to increased health expenditures and reduced labor force, the pandemic has hit the supply and demand chain massively and caused trouble for manufacturers who have to fire some of their employees or delay their economic activities to prevent more loss. With the closure of manufacturers and companies and reduced travel rates, usage of oil after the beginning of the pandemic has decreased significantly that was unprecedented in the last 30 years. The mining industry is a critical sector in several developing countries, and the COVID-19 pandemic has hit this industry too. Also, world stock markets declined as investors started to become concerned about the economic impacts of the COVID-19 pandemic. The tourism industry and airlines have also experienced an enormous loss too. The GDP has reduced, and this pandemic will cost the world more than 2 trillion at the end of 2020.

Keywords: COVID-19; Economic impacts; Global economy; Market; Oil; Pandemic.

PubMed Disclaimer

References

    1. Achonu C, Laporte A, Gardam MA (2005) The financial impact of controlling a respiratory virus outbreak in a teaching hospital: lessons learned from SARS. Canadian J Public Health (Revue canadienne de sante publique) 96(1):52–54. https://doi.org/10.1007/bf03404018 - DOI
    1. Açikgöz Ö, Günay A (2020) The early impact of the Covid-19 pandemic on the global and Turkish economy. Turk J Med Sci 50(SI-1):520–526. https://doi.org/10.3906/sag-2004-6 - DOI - PubMed - PMC
    1. Ahanchian H, Moazzen N, Sezavar Dokht Faroughi M, et al (2020) COVID-19 in a child with primary antibody deficiency. Clin Case Rep 00:1–4. https://doi.org/10.1002/ccr3.3643
    1. Ahmadi M, Saffarzadeh N, Habibi MA, Hajiesmaeili F, Rezaei N (2020) Colon cancer and SARS-CoV-2: impact of ACE2 expression in susceptibility to COVID-19. bioRxiv. 2020.06.11.146878
    1. Albert R, Jeong H, Barabási A-L (2000) Error and attack tolerance of complex networks. Nature 406(6794):378–382. https://doi.org/10.1038/35019019 - DOI - PubMed

LinkOut - more resources