COVID -19 effects on gross domestic product growth rate an empirical study of selected nations
Author: Firas Mohammed Dahham , Akel Abd Alkareem mohammed , Saddam Hamdan Akhad
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Abstract
The entire monetary market value of all finished products and services produced by a nation in a specific year it is considered as gross domestic product. It is regarded as a gauge of the nation's economic health. GDP makes it easier to determine a country's economic status at a given time and to calculate the extent of economic growth and its annual growth rate. There are three methods for calculating GDP, and it is regarded as a key factor for policymakers, investors, and corporations when making strategic decisions.. In this study researcher identified COVID-19 effect on GDP for selected nations because covid-19 considered as worldwide epidemic. For this study time period should be considered as 2012 to 2020 and most affected nations by Covid-19 would be selected for analysis. The major Findings of this study reveals United Kingdom, India and France were most affected nations by Covid-19 but significant impact on United Kingdom was identified 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: Gross Domestic Product, Covid-19: Novel Coronavirus 2019, Est.: Estimated, UNESCAP: United Nations Economic and Social Commission for Asia and the Pacific WTO: World Trade Organization).