IDEAS home Printed from https://ideas.repec.org/p/era/wpaper/dp-2021-22.html
   My bibliography  Save this paper

Impacts of COVID-19 on the Energy Demand Situation of East Asia Summit Countries

Author

Listed:
  • Shigeru Kimura

    (Economic Research Institute for ASEAN and East Asia (ERIA))

  • Ikarii Ryohei
  • Endo Seiya

    (The Institute of Energy Economics, Japan (IEEJ))

Abstract

The coronavirus disease (COVID-19) pandemic has brought us a ‘New Normal’ life style and the lockdown has severely harmed economic growth, with many countries estimated to record negative economic growth in 2020. Due to the high correlation between energy demand and economic growth, energy demand is also affected. Against this background, ERIA analyses how energy demand has decreased as a result of the COVID-19 pandemic using East Asia Summit (EAS) energy outlook models that are regularly updated by ERIA and apply an econometric approach. The outlook models cover the Association of Southeast Asian Nations (ASEAN) 10 countries plus seven countries – Australia, China, India, Japan, Republic of Korea, New Zealand, and the United States. According to gross domestic product (GDP) growth estimates for EAS countries in 2020, only three countries – China, Lao PDR, and Viet Nam – show positive growth, though less than 2%, and the others show negative growth. Total Final Energy Consumption (TFEC) of the EAS countries fell in 2020, but it is expected to rebound in 2021 and projected to return to the originally forecast trend of energy demand up to 2050. Once official energy statistics become available, a comparison between model results and actual statistics will be made to understand how the energy outlook models trace the impact of the pandemic on energy demand.

Suggested Citation

  • Shigeru Kimura & Ikarii Ryohei & Endo Seiya, 2021. "Impacts of COVID-19 on the Energy Demand Situation of East Asia Summit Countries," Working Papers DP-2021-22, Economic Research Institute for ASEAN and East Asia (ERIA).
    • Handle: RePEc:era:wpaper:dp-2021-22
    as

    Download full text from publisher

    File URL: https://www.eria.org/uploads/media/discussion-papers/ERIA-Research-on-COVID-19/Impacts-of-COVID-19-on-the-Energy-Demand-Situation-of-East-Asia-Summit-Countries.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Xuepeng Liu & Emanuel Ornelas & Huimin Shi, 2022. "The trade impact of the COVID‐19 pandemic," The World Economy, Wiley Blackwell, vol. 45(12), pages 3751-3779, December.
    2. Archanun Kohpaiboon & Juthathip Jongwanich, 2021. "The Effect of the COVID-19 Pandemic on Global Production Sharing in East Asia," Working Papers DP-2021-03, Economic Research Institute for ASEAN and East Asia (ERIA).
    3. Lili Yan Ing & Gracia Hadiwidjaja, 2021. "East Asian Integration and Its Main Challenge: NTMs in Australia, China, India, Japan, Republic of Korea, and New Zealand," Working Papers DP-2021-21, Economic Research Institute for ASEAN and East Asia (ERIA).
    4. Nobuaki Yamashita & Kiichiro Fukasaku, 2021. "Is the COVID-19 Pandemic Recasting Global Value Chains in East Asia?," Working Papers DP-2021-19, Economic Research Institute for ASEAN and East Asia (ERIA).
    5. Xunpeng Shi & Tsun Se Cheong & Michael Zhou, 2021. "Economic and Emission Impact of Australia–China Trade Disruption: Implication for Regional Economic Integration," Working Papers DP-2021-20, Economic Research Institute for ASEAN and East Asia (ERIA).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Christopher Findlay & Hein Roelfsema & Niall Van De Wouw, 2021. "Feeling the Pulse of Global Value Chains: Air Cargo and COVID-19," Working Papers DP-2021-23, Economic Research Institute for ASEAN and East Asia (ERIA).
    2. Sarah Y Tong & Yao Li & Tuan Yuen Kong, 2021. "Exploring Digital Economic Agreements to Promote Digital Connectivity in ASEAN," Working Papers DP-2021-24, Economic Research Institute for ASEAN and East Asia (ERIA).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Christopher Findlay & Hein Roelfsema & Niall Van De Wouw, 2021. "Feeling the Pulse of Global Value Chains: Air Cargo and COVID-19," Working Papers DP-2021-23, Economic Research Institute for ASEAN and East Asia (ERIA).
    2. Sarah Y Tong & Yao Li & Tuan Yuen Kong, 2021. "Exploring Digital Economic Agreements to Promote Digital Connectivity in ASEAN," Working Papers DP-2021-24, Economic Research Institute for ASEAN and East Asia (ERIA).
    3. Alejandro G. Graziano & Yuan Tian, 2023. "Trade disruptions along the global supply chain," Discussion Papers 2023-06, University of Nottingham, GEP.
    4. Chin Hee Hahn, & Ju Hyun Pyun, 2021. "Export Market Survival of Pioneers and Followers," Working Papers DP-2021-46, Economic Research Institute for ASEAN and East Asia (ERIA).
    5. Bas, Maria & Fernandes, Ana & Paunov, Caroline, 2024. "How resilient was trade to COVID-19?," Economics Letters, Elsevier, vol. 240(C).
    6. Serdar Kabaca & Kerem Tuzcuoglu, 2023. "Supply Drivers of US Inflation Since the COVID-19 Pandemic," Staff Working Papers 23-19, Bank of Canada.
    7. Oscar Fernando & Lili Yan Ing, 2022. "Indonesia’s Local Content Requirements: An Assessment on Consistency with Free Trade Agreement Commitments," Working Papers DP-2021-53, Economic Research Institute for ASEAN and East Asia (ERIA).
    8. Bart Kamp, 2021. "Responding to the COVID-19 pandemic: lessons in supply chain management among industrial firms," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 100(02), pages 210-233.
    9. Aloysius Gunadi Brata & Eusebius Pantja Pramudya & Esther Sri Astuti & Heffi Christya Rahayu & Heronimus Heron, 2021. "COVID-19 and Socio-Economic Inequalities in Indonesia: A Subnational-level Analysis," Working Papers DP-2021-04, Economic Research Institute for ASEAN and East Asia (ERIA).
    10. Alongkorn Tanasritunyakul, 2023. "Export survival for Thailand after the COVID-19 pandemic," Discussion Papers 20230809, Thammasat University, Faculty of Economics, revised Oct 2023.
    11. Konstantins Benkovskis & Jaanika Meriküll & Aurelija Proškute, 2024. "The transmission of trade shocks across countries: firm-level evidence from the Covid-19 crisis," Bank of Estonia Working Papers wp2024-1, Bank of Estonia, revised 23 Feb 2024.
    12. Raphael Lafrogne-Joussier & Julien Martin & Isabelle Mejean, 2023. "Supply Shocks in Supply Chains: Evidence from the Early Lockdown in China," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 170-215, March.
    13. Simola, Heli, 2021. "Trade collapse during the covid-19 crisis and the role of demand composition," BOFIT Discussion Papers 12/2021, Bank of Finland, Institute for Economies in Transition.
    14. Ben Shepherd, 2021. "Facilitating Trade in Pharmaceuticals: A Response to the COVID-19 Pandemic," Working Papers DP-2021-05, Economic Research Institute for ASEAN and East Asia (ERIA).
    15. de Lucio, Juan & Mínguez, Raúl & Minondo, Asier & Requena, Francisco, 2022. "Impact of Covid-19 containment measures on trade," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 766-778.
    16. Gian Paolo Clemente & Rosanna Grassi & Giorgio Rizzini, 2022. "The effect of the pandemic on complex socio-economic systems: community detection induced by communicability," Papers 2201.12618, arXiv.org.
    17. Simola, Heli, 2021. "Trade collapse during the covid-19 crisis and the role of demand composition," BOFIT Discussion Papers 12/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
    18. João Amador & Carlos Melo Gouveia & Ana Catarina Pimenta, 2023. "COVID-19, lockdowns and international trade: evidence from firm-level data," Empirical Economics, Springer, vol. 65(5), pages 2427-2466, November.
    19. Jaqueline Hansen & Antonia Kamaliev & Hans-Jörg Schmerer, 2023. "The COVID-19 Pandemic and Chinese Trade Relations," Open Economies Review, Springer, vol. 34(3), pages 673-702, July.
    20. Sinem Koçak & Özge Barış-Tüzemen, 2022. "Impact of the COVID-19 on foreign direct investment inflows in emerging economies: evidence from panel quantile regression," Future Business Journal, Springer, vol. 8(1), pages 1-12, December.

    More about this item

    Keywords

    COVID-19; East Asia Summit; energy demand;
    All these keywords.

    JEL classification:

    • P18 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Energy; Environment

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:era:wpaper:dp-2021-22. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ranti Amelia (email available below). General contact details of provider: https://edirc.repec.org/data/eriadid.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.