A recent report revealed that Germany and Canada are among the countries in the world most vulnerable to the shocks associated with the Corona virus due to their heavy reliance on trade with other countries.
The report said the rapid spread of the Corona virus in the United States and its economic implications could create “major problems” for Canada.
According to ITC data, Canada imported $ 453 billion worth of goods from the United States last year.
The report also indicated that Germany is vulnerable to an economic shock because of its dependence on the export of cars, equipment and medicines. According to ITC information, last year Germany’s exports amounted to $ 1.49 trillion.
The report notes that the US economy appears more protective from trade shocks.
He says that countries whose exports represent a relatively small proportion of their GDP, such as the United States, India and Brazil, will suffer less than countries that depend on foreign trade, such as Ireland, Hungary and Singapore.
Source: “Expert.ru”
