The impact of Covid-19 on the economy of selected Asian countries

Abstract

This study aims to discuss the impacts of Covid-19, which emerged in China in December 2019 and has affected the whole world in a short time, through some selected Asian countries. Covid-19 is not only an pandemic that has an impact on health but also an outbreak which has deeply shaken the countries' economies and pushed them into crisis. Like all countries of the world, Asian countries have been affected by Covid-19 outbreak. The countries in our study (South Korea, Singapore, Vietnam and Taiwan) responded very quickly to Covid-19 and were cited as examples all over the world due to their success at the onset of the outbreak. In this study, it was discussed how these epidemiologically successful countries react economically. In other words, we discussed the effects of Covid-19 on macroenonomical variables of the selected countries such as GDP, unemployment, inflation and foreign trade. Comparative analysis method and descriptive analysis method were used in the study.