Differential Impact of Covid-19 on Global Trade

Covid-19 led to rapid and significant changes in the economy as the need for social distancing, personal protection equipment, and deep cleaning suddenly became operational imperatives in both the workplace and the household. The economic effects have been swift and dramatic, but they have not affected industries uniformly as some businesses were shut down entirely, while others have been able to adapt with varying degrees of success, while still others have found increased opportunity in the new requirements. Most visibly, businesses that necessarily put people in close contact with each other, such as travel, sports and entertainment events, and personal services have been hardest hit. Many small, local businesses have shut down entirely, so we examine daily global trade data and observe how businesses are reacting to the unfolding crisis on a day-by-day basis and to gain visibility in any relationship between business size and ongoing performance during Covid-19.

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