(11 September 2020) China, Japan, and South Korea may be exemplars for the disparate but generally successful tactics taken to prevent the massive spread of COVID-19, but only China managed a return to positive economic growth as of Q2 2020. Expanding our scope to Asia Pacific, the cost of pandemic containment measured represented by the loss of percentage points of GDP per 1 COVID-19 death per million population is higher than any other world region, representing two thirds of those countries with losses in excess of a percentage point. We'll leave the 'why' to researchers, here we present the data behind this observation:

  • In Thailand, each COVID-19 death per million population cost nearly 15 percentage points of GDP growth. Thailand appears to be an outlier. China has lost 'only' 2 percentage points on the same scale, and the United States still less at 0.02 percentage points.
  • On average, for Knoema's sample of 58 countries* for which data on GDP growth for Q2 2020 is already available, each new COVID-19 death per million population corresponds to 0.01 percentage point loss in GDP growth. 

 

* Knoema's 58-country sample is based on data availability at the national level for Q2 2020. To capture all major world economies and ensure balanced regional representation, Knoema used data available for Q1 2020 GDP for China and Argentina, respectively.

Coronavirus Data and Insights

Live data and insights on Coronavirus around the world, including detailed statistics for the US, EU, and China — confirmed and recovered cases, deaths, alternative data on economic activities, customer behavior, supply chains, and more.

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