COVID-19 - trade impact on the machinery sector by market 2020
automotive sector are also expected to suffer similar impacts.
Currently, China manufactures about 20 percent of intermediate products traded in the global supply chain and Chinese products represent a critical part of the global value chain of the electrical machinery sector. For this reason, the disruption caused by COVID-19 in China alone is expected to reverberate on the economy of many other countries worldwide. In the European Union, the electrical machinery industry is expected to lose about 1.2 billion U.S. dollars from a two percent reduction in China exports of intermediate inputs. The European chemical and