The Impact of COVID-19 on Developing Asia: The Pandemic Extends into 2021
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Losses are calculated for both 2020 and 2021. The global impact of the pandemic is estimated to range from $4.8 trillion to $7.4 trillion (5.5% to 8.7% of global GDP) in 2020, with an additional impact of $3.1 trillion to $5.4 trillion (3.6% to 6.3% of global GDP) in 2021. Around 28% of these losses are incurred by developing Asia, with South Asia absorbing substantial losses relative to GDP.