Table 2 loss in exports of goods billion to china if

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Table 2: Loss in exports of goods ($ billion) to China if Chinese growth falls by 1% Country income status All regions Sub- Saharan Africa Middle East and North Africa East Asia Pacific South Asia Latin America and Caribbean Europe and Central Asia Low- 0.01 0.01 0.00 0.00 - - Lower-middle- 1.43 0.32 0.01 0.86 0.19 0.01 0.04 Upper-middle- 2.47 0.09 0.10 0.65 0.00 0.95 0.68 Low- and middle- 3.91 0.42 0.11 1.50 0.19 0.95 0.73 Table 3: Loss in tourism receipts ($ billion) from China if Chinese growth falls by 1% Country income status All regions Sub- Saharan Africa Middle East and North Africa East Asia Pacific South Asia Latin America and Caribbean Europe and Central Asia Low- 0.006 0.004 0.000 - 0.002 - 0.000 Lower-middle- 0.177 0.008 0.002 0.158 0.009 0.000 0.000 Upper-middle- 0.440 0.004 0.001 0.376 0.026 0.007 0.025 Low- and middle- 0.623 0.016 0.003 0.535 0.036 0.007 0.025 There is a further effect through commodity prices. As we noticed previously, copper prices are down by 7% and oil prices are down by 20% since the outbreak of Coronavirus started. This will lower the value of exports of much of Africa, as countries such as Angola, Nigeria and Zambia are major trade exporters. The impacts can be large, as the value of exports to other destinations will also be lower through lower global commodity prices. At the same time, there will be gainers for net commodity/oil importers when commodity prices decrease. This needs more detailed attention and specific analysis of specific commodities. Table 4 shows the losses in the value of net oil exports of a decline in oil prices. We assume the decline is 5% over the year (which is equivalent to 20% this quarter alone). There are negative impacts on sub-Saharan African worth $3 billion but there are gains for net oil-importing regions such as South Asia and South East Asia. Central Asian countries are also losers.
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14 Table 4 Loss in the value of net oil exports ($ billion) following a 5% decline in oil prices Country income status All regions Sub- Saharan Africa Middle East and North Africa East Asia Pacific South Asia Latin America and Caribbean Europe and Central Asia Low- -0.52 -0.43 0.08 -0.16 Lower-middle- -7.00 3.98 -0.85 -0.50 -8.91 -0.11 -0.61 Upper-middle- 0.91 -0.50 4.93 -16.30 -0.17 -0.18 13.13 Low- and middle- -6.61 3.05 4.16 -16.80 -9.25 -0.29 12.52
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15 7 POLICY IMPLICATIONS Countries are beginning to be concerned about the economic impact of both the virus and the measures (e.g. flights cancellations) taken to address its spread. This section scopes initial policy reactions and will need to be updated the further we are into the outbreak. 7.1 Health measures to contain the virus in China and other countries After an initial period of lack of information, China has now taken drastic measures trying to contain the virus. Cities are under lock-down and travel is heavily restricted. The country has built two new hospitals in little over a week. Other countries are supporting some of these actions. For example, a South African manufacturer has donated masks to China. Several countries have evacuated their nationals. Many countries are developing a vaccine for the virus.
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