Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 16 December
Stronger than expected performance in Q2 and Q3 resulted in an upwards revision to global real GDP growth in 2020.
Supportive measures are likely to continue into 2021 to reduce uncertainty and to increase preparedness for new disruptions.
GlobalData forecasts 5.3% increase in global GDP in 2021
China is forecast to grow by 8.6% in 2021 driving global economic growth
Global real GDP growth
% change on previous year
Pre-Covid-19 2020 forecast
Adjusted 2020 forecast
The cost of Covid-19
Cumulative loss for global economy over the next five years
Cumulative loss for global economy over the next two years
- SECTOR IMPACT: Aerospace, defence and security -
Latest update: 8 January
Defence markets, although relatively shielded from both immediate demand and supply side shocks, are now starting to look vulnerable in many parts of the world as national debates are ignited around fiscal priorities.
Western supply chain concerns stemming from Chinese-US rivalry have been exacerbated by Covid-19. This will result in greater FDI scrutiny, multisourcing and onshoring in key product areas such as microelectronics.
The interdependent relationship between aerospace and defence has helped to cushion the impact of Covid-19 on companies working across both segments. Targeted government aid will be instrumental to recovery in these sectors.
Impact on major companies