The Coronavirus pandemic, also known as Covid-19 (Coronavirus), which has been declared a ‘pandemic’ by the World Health Organization (WHO) as of 11 March 2020 and spread rapidly in our country in a short time, prepares the ground for a global social and economic crisis that may arise in the next few months, in addition to having a global health crisis. For this reason, governments, institutions, organisations and companies have taken action to take all measures in all respects, primarily protecting the public and human health, and then economic measures. In line with the measures taken in relation to the pandemic, efforts are made to prevent the damage caused by quarantine practices, closure of workplaces, import and export restrictions, and a reduction in consumption, and to reduce the negative impact of current measures.
The historical decrease in the Baltic Dry Index which is one of the most important indicators of world trade indicates the contraction in world trade while the record decrease in Brent Oil prices points to a decrease in production and growth. The mentioned economic indicators show that the economic contraction caused by the Coronavirus pandemic has spread all over the world.
