COVID-19 Induced Economic Slowdown and Mental Health Issues

Abstract

The COVID-19 pandemic has pressed a pause button on global economic development, and induced significant mental health problems. In order to demonstrate the progressed relationship between the pandemic, economic slowdown, and mental health burden, we overviewed the global-level gross domestic product changes and mental problems variation since the outbreak of COVID-19, and reviewed comprehensively the specific sectors influenced by the pandemic, including international trade, worldwide travel, education system, healthcare system, and individual employment. We hope to provide timely evidence to help with the promotion of policymakers' effective strategies in mitigating economic losses induced by the pandemic; we suggest different governments or policy makers in different countries to share information and experience in dealing with COVID-19-induced economic slowdown and promote COVID-19 vaccine popularization plan to protect every individual worldwide against the coronavirus essentially; and we appeal international information share and collaboration to minimize stigmatization related to adverse mental consequences of COVID-19 and to increase mental health wellbeings of people all over the world.

Keywords: COVID-19; GDP; economic slowdown; education system; healthcare system; international trade; mental health issues; unemployment.

FIGURE 1

(A) GDP Changes from 2016 to 2020 (World Bank). Based on data from the World Bank database, the change in GDP of the world’s major economies from 2016 to 2020 is calculated in current US dollars (August 21, 2021). The World Bank database lacks the GDP data of Japan in 2020. The data here comes from the Statistics of the Japanese Cabinet Office and is converted to current US dollars (Japanese Cabinet Office: https://www.esri.cao.go.jp/jp/sna/menu.html). (B) GDP Changes from 2016 to 2020 (IMF). Based on data from International Monetary Fund (IMF) database, the change in GDP of the world’s major economies from 2016 to 2020 is calculated in current US dollars (September 8, 2021). The IMF database lacks 2020 GDP data for China, India, Russia and Nigeria, which are derived from the World Bank database and converted to current US dollars. (C) Changes in annual GDP growth (%) rates in major economies (World Bank). Based on data from the World Bank database. The World Bank database lacks the GDP data of Japan in 2020. The data here comes from the Statistics of the Japanese Cabinet Office (Japanese Cabinet Office: https://www.esri.cao.go.jp/jp/sna/menu.html). (D) Changes in annual GDP growth (%) rates in major economies (IMF).

FIGURE 2

Summary flow chart.