Economic impact of coronavirus COVID-19 Philippines 2020

In a survey conducted in the Philippines in February 2020, about 65 percent of respondents expected the national economy to be significantly affected by the COVID-19 pandemic. Nationwide lockdowns imposed by the government have adversely impacted people’s livelihood. COVID-19 pandemic aftermath in the Philippines Between March and April 2020, the country’s Luzon Island went into a complete lockdown that restricted population movement with only a few exceptions. This resulted in a drastic decline in employment levels, with projections suggesting a maximum of one million people losing their jobs due to the lockdown. In addition, the imposed community quarantine would, at the very least, cause cumulative losses in gross value added of three billion Philippine pesos in every select key sector in the country. Major economic sectors facing setbacks With travel being a major contributing factor to the spread of the virus, the tourism industry worldwide has been brought to a grinding halt. The Philippines relies on tourism to a large extent for revenue generation and calculated a loss of GDP share  from tourism of about 0.68 percent in the worst case. Another sector to be severely hit was international trade, causing a spillover effect from Chinese supply disruptions to the Philippines. Hence, it was estimated that the communication equipment industry would lose 115 million U.S. dollars due to supply disruption.

在2020年2月于菲律宾进行的一项调查中，约65%的受访者预期国家经济将受到COVID-19大流行的严重影响。政府实施的全国性封锁对人们的生计产生了不利影响。菲律宾COVID-19大流行后的影响在2020年3月至4月间，该国吕宋岛实施了全面封锁，仅对少数例外情况放宽了人口流动限制。这导致了就业水平的急剧下降，预计最多有100万人因封锁而失业。此外，实施的社区隔离至少会导致该国关键行业的国内生产总值增加值累计损失达到30亿比索。面临挑战的主要经济部门由于旅游是病毒传播的主要促成因素，全球旅游业遭受重创，陷入停滞。菲律宾在很大程度上依赖旅游业来创造收入，并计算在最坏情况下，旅游业占GDP的份额将损失约0.68%。另一个受到严重打击的部门是国际贸易，这导致了从中国供应链中断对菲律宾的溢出效应。因此，预计通信设备行业将因供应链中断而损失1.15亿美元。