Impacts of covid-19 on international trade: evidence from the first quarter of 2020

Kazunobu Hayakawa and Hiroshi Mukunoki

No 791, IDE Discussion Papers from Institute of Developing Economies, Japan External Trade Organization(JETRO)

Abstract: The aim of this study is to present early evidence for the impacts of coronavirus disease 2019(COVID-19) on international trade. Accordingly, we investigate trade among 186 countries in the firstquarter of 2020. The disease burden of COVID-19 is measured in terms of the number of cases anddeaths. Our findings can be summarized as follows. First, the COVID-19 burden in exportingcountries, but in not importing countries, has a significantly negative effect on trade. Second, thisnegative impact of exporters’ COVID-19 burden is seen in exports from developing countries but notfrom developed countries. Third, the COVID-19 burden in an exporter’s neighboring countries has apositive effect on its exports. Fourth, importers’ COVID-19 burden has positive effects on trade in theagricultural industry, whereas exporters’ COVID-19 burden has negative effects, particularly in thetextile, footwear, and plastic industries.

Keywords: COVID-19; International trade (search for similar items in EconPapers)
JEL-codes: F15 F53 (search for similar items in EconPapers)
Date: 2020-06
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Citations: View citations in EconPapers (11)

Published in IDE Discussion Paper = IDE Discussion Paper, No. 791. 2020-06

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