Laura Jones, Daniele Palumbo, David Brown BBC News 4 March 2020
Updated on January 24, 2021
The coronavirus pandemic has affected almost every country in the world.
The spread of the virus has left economies and businesses counting the costs as governments struggle with new lockdown measures to combat the spread of the virus.
Despite the development of new vaccines, many people still wonder what recovery will look like.
Here are some graphs and maps to help you understand the economic impact of the virus so far.
Global stocks are liquid
Large fluctuations in the stock market, where company shares are bought and sold, can affect the value of pensions and individual savings accounts (Isas).
The FTSE, Dow Jones Industrial Average, and Nikkei Stock Average all suffered significant declines in the first months of the crisis as the number of coronavirus cases rose.
Major stock markets in Asia and the US have recovered following the first vaccine announcements in November, but the FTSE remains in negative territory.
In response, central banks in many countries, including the UK, lowered interest rates. That should theoretically make borrowing cheaper and encourage spending to boost the economy.
Some markets recovered ground in January this year, a normal trend known as the “January effect.”
Analysts are concerned that further lockdowns and the possibility of delays in vaccination plans could lead to further market volatility this year.
A tough year for job seekers
Many people have lost their jobs or had their income reduced.
Unemployment rates rose across major economies.
The rate of unemployment in the United States has reached an annual total of 8.9%, marking the end of a decade of job growth, according to the International Monetary Fund (IMF).
Millions of workers have been forced onto government-backed job retention schemes as parts of the economy, including tourism and hospitality, have come to a near standstill.
In many countries, the number of new job opportunities remains very low.
Australia's job numbers have returned to the same level as in 2019, but France, Spain, the UK and several other countries have lagged behind.
Some experts have warned that it could take years for employment levels to return to levels seen before the pandemic.
Most countries are currently in recession
When an economy is growing, that generally means more wealth and more new jobs.
This is usually measured by looking at the percentage change in gross domestic product, or the value of goods and services produced, over a three-month or one-year period.
The IMF estimates that the global economy contracted by 4.4% in 2020. The IMF says this drop is the worst since the Great Depression of the 1930s.
However, the IMF predicts global growth in 2021 to be 5.2%.
This growth will be primarily driven by countries such as India and China, which are expected to grow by 8.8% and 8.2%, respectively.
Large, service-dependent economies such as the UK and Italy, which have been hit hard by the spread of the virus, are expected to recover slowly.
The journey is still far from starting
The travel industry has been hit hard, with airlines cutting flights and customers canceling business trips and vacations.
New variants of the virus have only been discovered in recent months, forcing many countries to introduce stricter travel restrictions.
According to data from aviation tracking service Flightradar 24, the number of flights around the world was hit hard in 2020, and there is still a long way to go for recovery.
The hospitality industry is closing its doors around the world.
The hospitality industry has been hit hard, with millions of jobs lost and many businesses bankrupt.
All major travel destinations are recording a decline in bookings, according to data from Transparent, a leading intelligence firm covering more than 35 million hotels and rental properties around the world.
Billions of dollars were lost in 2020, and although the forecast for 2021 is even better, many analysts believe international travel and tourism will not return to normal pre-pandemic levels until around 2025.
As shoppers stayed at home, foot traffic at retail stores suffered an unprecedented decline.
New variants and a surge in cases are making the problem worse.
According to research firm Shoppertrack, the number of pedestrians has fallen further since the first lockdown.
Another survey shows that consumers remain nervous about returning to stores. Accounting giant EY says 67% of customers are now unwilling to travel more than 5km to shop.
This shift in shopping behavior has led to significant growth in online retail, reaching $3.9 trillion in global revenue in 2020.
Pharmaceutical companies are also among the winners
Governments around the world have pledged billions of dollars for COVID-19 vaccines and treatment options.
Stock prices of some pharmaceutical companies involved in vaccine development soared.
Moderna, Novavax, and AstraZeneca rose significantly. However, Pfizer's stock price fell. The partnership with BioNTech, the high cost of producing and administering the vaccine, and the proliferation of similarly sized competitors have dampened investor confidence that the company can generate strong returns in 2021.
Many pharmaceutical companies have already begun distributing vaccines, and many countries have begun vaccination programs. More companies are expected to participate in vaccine distribution in 2021, including Johnson & Johnson and Sanofi/GSK.