In the wake of COVID-19 and associated lockdowns, businesses in both the oil and gas industry and the recreation industry saw a 20 percent reduction in revenues when comparing the revenues generated between April 2020 to March 2021 with revenues generated between April 2019 to March 2020. The top performing industries during the same time period can be accessed here.

According to a study in mid-March 2020, around 11.1 percent of jobs in the leisure and hospitality industry in the United States are at risk from the global coronavirus pandemic (COVID-19). This amounts to around 16.3 million jobs nationwide.

The outbreak of COVID-19, also known as novel coronavirus, is impacting almost all industries and sectors worldwide. Two of the most impacted sectors are manufacturing and travel & transportation. Both sectors are set to be severely impacted by coronavirus pandemic.

The impact is ranked on a 5-point scale from minor impact to severe impact:

1 - minor impact

2 - moderate impact

3 - significant impact

4- major impact

5 - severe impact

The only industries that registered a positive change in the GDP in the 2nd quarter of 2020 compared to the 1st quarter, were health services, and public administration and defense. In contrast, the most affected industry by the coronavirus (COVID-19) pandemic in Romania was tourism and hospitality, followed by culture and arts. However, by the 3rd quarter of 2020, all the industries apart from education, agriculture, and public administration and defense, registered a positive change in GDP.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

According to data provided by the Institute for Mergers, Acquisitions and Alliances (IMAA) in a survey of private equity investors and professionals in the DACH region, the industry that will be most negatively hit by the COVID-19 virus will be the vehicle construction and accessories sector. 91 percent of respondents indicated that this industry would see negative ramifications due to the pandemic.

The impact of coronavirus COVID-19 outbreak with a prolonged shutdown of business operation could be devastating on China's economy. Recreation industry was estimated to suffer the most with a drop by 5.8 percentage points form the baseline of no virus outbreak. Transportation, trade and communication services were other hard-hit industries.

According to a survey conducted in Japan, approximately 83 percent of business enterprises in the manufacturing industry stated that they already experienced an impact of the coronavirus (COVID-19) pandemic on their corporate activities. An additional of around 14 percent were concerned about possible impacts in the future. When compared to the first survey, the ratio of already affected companies increased by nearly 57 percent.

According to recent estimates, the most affected sectors by the coronavirus pandemic in Latin America would be wholesale and retail trade as well as services in general, such as tourism, foodservice, transport, and communications. In 2020, this group of most affected sectors was forecasted to represent more than 16 percent of Brazil’s gross domestic product (GDP). Among the countries shown in this graph, Brazil is the nation where sectors moderately affected by the pandemic could represent the highest contribution to GDP (75.8 percent).

Which Latin American economies were most vulnerable to the pandemic? In 2020, the economic sectors most affected by the coronavirus pandemic - wholesale and retail, hotels and restaurants, transport and services in general - were forecasted to account for 35.5 percent of Panama’s GDP. In addition, the moderately and most affected economic segments were estimated to contribute the most to Panama’s GDP (a combined 97.6 percent) than any other country in this region. A similar scenario was projected in Mexico, where the sectors that would least suffer the pandemic's negative effects would account for only 3.4 percent of GDP.

Did the pandemic put a stop to economic growth in Latin America? Economic growth changed dramatically after the COVID-19 outbreak. Most of the largest economies in Latin America fell under recession in 2020. Estimates predict a more optimistic scenario for 2021, with countries such as Mexico, Colombia, and Argentina growing their GDP at least five percent.

The outbreak of coronavirus in Poland will significantly reduce labor demand. According the source, bankruptcies of companies, dismissals of employees, the need to take care of children due to closed educational institutions, and limited possibilities of remote work in some sectors have a direct impact on the labor market during the pandemic. In total, nearly 4.2 million people work in industries strongly exposed to the economic consequences of the lockdown. Of this figure, three million are employed, and just over one million are business owners and co-owners. More than half of the jobs at risk are in the trade.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

As per the latest data, the forecast which predicts a worst case scenario of a 12 percent or more decline to global semiconductor industry revenues, as impacted by the coronavirus (COVID-19) outbreak, would also bring about serious implications for the wider technology industry. Under this scenario, the technology supply chain would take approximately three months to recover, whilst global disruption to the economy and technology demand would likely last for at least 12 months.

The outbreak of COVID-19, also known as novel coronavirus, has led to revised growth expectations for software spending in 2020. Survey result from May 2020 shows that most buyers expect no changes in their software spending as the impact of the pandemic becomes more known with time. However, across almost all industries, more respondents reported spending decline than spending increase.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

The majority of large businesses in Russia in all presented industries were negatively affected by the COVID-19 pandemic, according to a survey from August 2020. Almost one third of companies with a focus on production of consumer goods, however, experienced a positive impact from the crisis.

In a survey conducted in Chile at the end of March 2020, nine out of ten company executives thought that the tourism and hospitality sector would be one of the most affected by the coronavirus (COVID-19) pandemic. In turn, respondents' answers showed that the public sector, along with telecommunications and technology, would be likely spared from this crisis' negative effects. According to the same survey, over two thirds of Chilean respondents expected the country's GDP to fall in 2020.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

As per recent data from the March 2020 survey, 40 percent of the global electronics manufacturers and suppliers surveyed reported they believed that consumer electronics were likely to be the most impacted industry due to the coronavirus (COVID-19) outbreak. A further 24 percent of respondents claimed they expected industrial electronics to be most impacted, with 19 percent suggesting that the automotive electronics segment would be hardest hit.

The industry sectors across India witnessed a significant decline in growth rate compared to previous years due to the impact of the coronavirus (COVID-19). Mining and quarrying took the brunt of the impact during lockdown months, and was on the path to recovery in the later months of 2020.

Global spending on telecom services is expected to reach 1.595 trillion U.S. dollars by 2024, slightly higher than the 1.575 trillion U.S. dollars spent on telecom services during 2019. The overall growth forecast is largely driven by increased spending in the Americas, as the Asia Pacific and Europe, Middle East and Africa regions are expected to remain flat. The stagnation in growth seen between 2019 and 2022 is attributable to the effects of the coronavirus (COVID-19) pandemic, with the increase in services from more people working at home offset by the slowdown in travel and tourism, and prevailing economic conditions.

Telecoms: a capital-intensive industry

Developing, maintaining and building new telecommunications infrastructure is part and parcel of operating a major telcos. Ageing infrastructure and technological advancements drive capital expenditure, while challenges such as gaining access to remote locations are expensive problems to solve.​ While the global median revenue sat at 201 million U.S. dollars in 2019, median expenses came in at 180 million U.S. dollars.

The equipment contained in the network can also provide telcos with a huge asset base. United States based AT&T generated 181.27 billion U.S. dollars in revenue during 2019, holding assets worth 551.67 billion U.S. dollars.

Economic contribution through employment

Telecommunications companies play a vital role in the economy, not only as operators of essential infrastructure, but as providers of millions of jobs worldwide. The effect of this contribution is even greater given the industry’s relative stability during uncertain economic times. AT&T alone employs 246,000 people in the United States, while Deutsche Telekom AG provides 210,530 jobs in Europe.

During the global coronavirus (COVID-19) pandemic, mining operations were impacted in many countries worldwide just as other industries had to adjust or stop operations. By April 2020, mining operations in Peru, Argentina, South Africa, and the Philippines had been stopped for a period of time due to the global pandemic.

The following list outlines the impact on mining operations in all of the countries that the source provided data for:

Operations continued (with controls): Brazil Chile Russia Australia Democratic Republic of the Congo

Operations partially stopped: the United States Canada China India Indonesia Taiwan

Operations stopped (for a period): Argentina Peru South Africa Philippines

Nearly 250 thousand cars were not manufactured in Central and Eastern Europe due to the downtime caused by the coronavirus outbreak. As of 30th March 2020, nearly 136 thousand people working in the automotive factories in the CEE region were affected by the COVID-19 crisis. The source also states that the actual number of affected employees was much higher. This is due to delays in data transfer and the unavailability of full reports from production plants.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

Currently, China manufactures about 20 percent of intermediate products traded in the global supply chain and Chinese products represent a critical part of the global value chain of the electrical machinery sector. For this reason, the disruption caused by COVID-19 in China alone is expected to reverberate on the economy of many other countries worldwide. In the European Union, the electrical machinery industry is expected to lose about 1.2 billion U.S. dollars from a two percent reduction in China exports of intermediate inputs. The European chemical and automotive sector are also expected to suffer similar impacts.

China's role in the global economy Since the beginning of the 1990s, China started to open up its markets with attractive incentives to foreign investors. Three decades later, the country has become the second-largest economy in the world with the highest absolute catch-up effect observed during this time span. For instance, between 2003 and 2019, China's semiconductor consumption market share increased at a high pace, reaching 60 percent in 2019. Besides, the export value of machine tools from China reached roughly four billion U.S. dollars in 2018, up from 1.4 billion U.S. dollars in 2009. With solid economic strategies, the country could quickly reduce the wealth gap with the developed countries. At the moment, the country is highly specialized in various industries and continues its progress to strengthen its international export position. China’s exports of high-tech goods represented 27 percent of its total exports in 2018.

Impact of COVID-19 on the Chinese economy For the first time since the 2000s, the Chinese real gross domestic product (GDP) experienced a negative growth rate in the first quarter of 2020 because of the coronavirus (COVID-19) pandemic outbreak. The economy is expected to grow only by one percent in 2020. Yet over the past few years, the average annual real GDP growth rate in China was around seven percent. To take a closer look at how the COVID-19 pandemic affected the Chinese economy, a multidimensional approach is necessary since the country has a vastly diversified economic activity. For instance, between January and February 2020, the total industrial production in China declined by 13.5 percent compared to the previous year. But Chinese industrial production started to recover quickly. By April 2020, the total industrial production in China reached a positive year-on-year change, roughly 3.9 percent. Although the country experienced a large economic shock caused by the coronavirus outbreak, it started to recover quickly thanks to strong economic policy responses. By the fourth quarter of 2020, the Chinese business and government purchases of technology goods and services are expected to grow by about seven percent.

The coronavirus (COVID-19) pandemic is causing a decrease in hotel occupancy rates in the United States. As a result, the hotel sector's contribution to GDP could also see a drop. If occupancy rates were to drop by 50 percent in the U.S., this would potentially result in a loss of 500 billion U.S. dollars being contributed by the hotel sector to GDP in 2020. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.