UNITED NATIONS: The trade impact of the coronavirus epidemic for India is estimated to be about 348 million dollars and the country figures among the top 15 economies most affected as the slowdown of manufacturing in China disrupts world trade, according to a UN report.
Estimates published by United Nations Conference on Trade and Development (UNCTAD) Wednesday said that the slowdown of manufacturing in China due to the coronavirus (COVID-19) outbreak is disrupting world trade and could result in a 50 billion dollar decrease in exports across global value chains.
The most affected sectors include precision instruments, machinery, automotive and communication equipment.
Among the most affected economies are the European Union (USD 15.6 billion), the United States (USD 5.8 billion), Japan (USD 5.2 billion), South Korea (USD 3.8 billion), Taiwan Province of China (USD 2.6 billion) and Vietnam ( USD 2.3 billion).
India is among the 15 most-affected economies due to the coronavirus epidemic and slows down in production in China, with a trade impact of 348 million dollars.
The trade impact for India is less as compared to other economies such as EU, the US, Japan and South Korea.
Trade impact for Indonesia is 312 million dollars.