EU economy faces highest impact due to coronavirus

As per the recent estimates published by United Nations Conference on Trade and Development (UNCTAD), the most affected economy due to the coronavirus outbreak is the European Union ($15.6 billion) followed by the United States ($5.8 billion) and Japan ($5.2 billion),

The trade impact of the outbreak for India is estimated to be about USD 348 million and it is among the top 15 economies most affected. It also revealed that the manufacturing-slowdown in China due to the outbreak is disrupting world trade and could cause a 50 billion dollar decrease in global exports.