Industries development

in a global pandemic
In the global pandemic and lockdown context, all countries experienced a sharp increase in unemployment and a decline in production.
To date, the economy worldwide has passed the lowest point of the crisis, and economic growth has begun in the world's leading countries - these changes developed in different ways in the US, EU, and China economies.

In China, both the epidemic and the economic crisis began ahead of all other countries, and respectively, the economy started to grow earlier.

The Chinese economy has shown a growth of 11.5% in the II quarter, compared to the I quarter, and by the end of 2020, China will reach a positive growth rate of 2-3%.

In the USA and Europe, the growth of the economy began only in the III quarter. And by the end of the year, the economies of these countries will hardly reach the pre-crisis level.
The most affected by the pandemic were industries that involve direct contact between people, e.g., information and communication services, transport, education, health care, science, financial and business services, real estate, insurance, wholesale and retail trade, arts, entertainment and recreation, catering and hotel sector, government services.

The most affected industries in the world are tourism and transport. In the world's leading economies, these industries' share ranges from 7% to 14% of GDP. For example, in Japan, the share of these industries in GDP is 7%, the USA - 8.6%, the UK - 9%, Germany - 9.1%, China - 11.3%, Italy - 13%, Spain - 14.3%. The recovery of these industries may take place no earlier than the second quarter of 2021. Accordingly, the recovery of the economies of these countries and the global economy will slow down. Still, it will also affect the recovery of all companies that depend on the speed of delivery of goods from manufacturers to their warehouses.

Today, all the industries of material production are gradually returning to the indicators that were before the crisis. Some industries were redesigned to cover countries' needs during the quarantine period, so their economic indicators fell less than others. Our experts advise ordering goods from Chinese manufacturers since they have restored their work and can supply products without interruption. We also would like to mention that transportation time has increased by 1.5-2 times, so be sure to consider this while making delivery plans.

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