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The impact of COVID-19 on exports related jobs

Author

Listed:
  • Kutlina-Dimitrova, Zornitsa

    (DG Trade)

  • Rueda-Cantuche, José Manuel

    (JRC)

Abstract

The current COVID-19 pandemic has had drastic and unprecedented impacts on trade, and GDP worldwide and in the EU. We assess in the paper the potential export related jobs losses that would have affected European workers had not governments and the EU implemented large exceptional support packages to prevent real job losses. To this end, we use a global multi-region input output model based on the recently released FIGARO tables (Eurostat, 2021) and build a counterfactual analysis based on trade flows projections made before the COVID-19 pandemic broke out. Our results show that in the absence of jobs and enterprise retention measures, 6.4 million exports dependent jobs would have been at risk. Therefore, it is urgent for trade to recover quickly since millions of jobs are at stake.

Suggested Citation

  • Kutlina-Dimitrova, Zornitsa & Rueda-Cantuche, José Manuel, 2021. "The impact of COVID-19 on exports related jobs," DG TRADE Chief Economist Notes 2021-1, Directorate General for Trade, European Commission, revised 17 Oct 2021.
    • Handle: RePEc:ris:dgtcen:2021_001
    as

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    References listed on IDEAS

    as
    1. Kutlina-Dimitrova, Zornitsa & Rueda-Cantuche, José Manuel & Amores, Antonio & Román, Victoria, 2018. "How important are EU exports for jobs in the EU?," DG TRADE Chief Economist Notes 2018-4, Directorate General for Trade, European Commission.
    2. Juan M. Valderas-Jaramillo & José M. Rueda-Cantuche & Elena Olmedo & Joerg Beutel, 2019. "Projecting supply and use tables: new variants and fair comparisons," Economic Systems Research, Taylor & Francis Journals, vol. 31(3), pages 423-444, July.
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    Cited by:

    1. Kutlina-Dimitrova, Zornitsa & Rueda-Cantuche, José Manuel, 2021. "More important than ever: Employment content of extra-EU exports," DG TRADE Chief Economist Notes 2021-2, Directorate General for Trade, European Commission.

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    More about this item

    Keywords

    COVID-19; EU; trade; jobs;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions

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