COVID-19 effect on economy- comparative analysis based on GDP

Dr. Divyarajsinh M. Zala

Assistant Professor, Department of Commerce,

Atmiya University, Rajkot

Abstract

Gross domestic product is the total monetary market value of all final goods and services produced by country in a given particular year. It is also considered as scorecard of the country’s economic health. GDP helps in the identification of economic snapshot of country and facilitate to estimate the size of economic growth its growth rate for particular year. There are three ways to calculate GDP like using expenditures, production and income and it is considered as main aspect for policymaker, investors and businesses for strategic decision making. In this study researcher identified COVID-19 effect on GDP for selected nations because covid-19 considered as worldwide epidemic in the year 2019-20. For this study time period should be considered as 2013 to 2020 and most affected nations by Covid-19 would be selected for analysis. The major Findings of this study reveal United States, Spain and Italy are most affected nations by Covid-19 but significant impact on Italy would take to note in concern with GDP growth rate. All selected countries are indicated negative impact on GDP growth rate due to epidemic of Novel Corona Virus.

Keywords: GDP, Covid-19, Estimated, UNESCAP, WTO.

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