COVID-19: Impact on Industries in the Republic of Moldova
22 May 2020
National COVID-19 policy response strategies and containment measures put in place to prevent the spread of the virus such as quarantines, travel restrictions and closures of international borders severely affected demand and supply of goods and services along the global value chains disrupting numerous industrial processes and models, and putting many businesses at risk of insolvencies.
The containment measures in advanced economies have already started impacting less developed countries through decreased manufacturing production, trade volumes and investment flows. The United Nations (UN) report that supply chain disruptions halting the global manufacturing industry, compounded with the falling commodity prices, in particular oil, have already resulted in USD 50 billion decrease in manufacturing production in February 2020. This is bound to negatively impact developing countries’ export volumes.