However, healthcare in most ENCA countries is relatively well developed. International Support Measures. By contrast, more than half of the countries in the Southern Neighbourhood fall into the highest vulnerability category for this risk component. The COVID-19 crisis is already increasing the risk of debt distress. The twelfth edition of the Democracy Index finds that the average global score has fallen from 5.48 in 2018, to 5.44. Unsurprisingly, higher-income countries generally have better coping capacities, even when hit by an unprecedented global shock. 5 Economic vulnerability index = exposure index (50 per cent) + shock index (50 per cent), where ... For instance, based on 2019 statistics, in Vanuatu, Port Vila receives about one container ship every three days, with only four companies providing regular shipping ... 4.4 Expenditures and Economic Vulnerability ... MDDI multi-dimensional deprivation index MEB minimum expenditure basket MPCG Multi-Purpose Cash Working Group NGO non-governmental organization Then it presents a review of the efforts to assess local scale vulnerability, including the magnitude of economic loss caused by climate change, and the efforts to develop local vulnerability indicators… Using the first component of exposure, vulnerability, and resilience index, in addition to the hazard data of Allen et al. The most vulnerable group to COVID-19 includes a number of countries that are dependent on oil exports or highly reliant on tourism. Nonetheless, 56% of high-income countries face an intermediate level of risk, along with 63% of middle-income economies and half of the poorest countries. The vulnerability index is derived as the weighted vector magnitude in the multi-indicator space. The Index of Economic Resources (IER). An Economic Vulnerability Index Its Design and Use for International Development Policy . Evolution of the economic vulnerability index Perspectives on Global Development 2019 Rethinking Development Strategies In 2008, the weight of developing and emerging economies in the global economy tipped over the 50% mark for the first time. In mid-March 2020, countries around the world began stepping up restrictions to fight the pandemic. The MSI All ountry World Index rose 3.4% in the month despite downgrades by the International Monetary Fund to world growth estimates from 3.5% in January 2019 to 3.3% in its April 2019 World Economic Outlook. Countries whose economies rely heavily on tourism face elevated risks The pandemic and restrictions on the movement of people have all but wiped out tourism in many countries, and a global recession is expected to diminish tourist revenues long after restrictions are removed. The new Climate Change Vulnerability Index (CCVI), released by global risks advisory firm Maplecroft, enables organisations to identify areas of risk within their operations, supply chains and investments. The prices of most non-agricultural commodities have plummeted, with gold being the main exception, and oil-exporting countries have been hurt particularly badly The EU’s Eastern Neighbourhood and Central Asia region has the highest proportion of countries in the highest vulnerability group in terms of commodity dependence, as shown in the below chart, but there are significant numbers of commodity-dependent countries in all regions. Climate impacts on World Heritage Images . Dependence on tourism revenue is a key driver of vulnerability among the Caribbean and Pacific countries with over two-thirds ranking among the most vulnerable to drops in tourism, and only Trinidad and Tobago and Papua New Guinea in the lowest vulnerability group. Districts within a state face different degrees of vulnerability based on difference in geographic, climatic, socio-economic and demographic conditions. Improving lives and creating jobs around the world. Remittances were a source of support during previous economic crises, but money sent back to countries of origin is expected to fall by more than $100 billion in 2020, according to the World Bank, heightening the economic vulnerability of countries that rely on this form of revenue. The index was developed through consultation and collaboration with countries, institutions and experts across the globe. In 2039, on the current trajectory, it will be more than 10% bigger. It presents the most current and The Macro-Economic Vulnerability index was introduced in Economic Survey 2014-15. Our website uses anonymised cookies to give you the best browser experience and to collect aggregated statistics. This index showed that in 2012 India was the most vulnerable of the major emerging market countries. In the ECONOMICS category (expert weighted avg 7.20), high scores in the indicators which measure the vulnerability of people to climate shocks: national youth unemployment (8.40), national unemployment rate (8.05), income inequality (7.95), and dependence on the informal economy (7.52) increase the economic insecurity of city residents to climate change. Economic Vulnerability Index, almost double that for non-SIDS (“š. ) This study provides an in-depth diagnosis of informality and the vulnerability prevailing in the informal economy. Download the free report for the survey’s key findings, and for an introduction to our Liveability Index services. Morocco, Tunisia and Egypt are judged to be at intermediate risk. 2018-2019. Tonga, which derived 41% of its GDP from remittances in 2019, has the world’s highest exposure. The economic vulnerability index (EVI) was created in 2003 by Briguglio and Galea (2003) in order to assess the extent to which a country's economy is exposed to external and uncontrollable forces. There is a lot that we do not yet know about the health effects of COVID-19. This index is designed to be used with economic and social vulnerability indices to provide insights into the processes that can negatively influence the sustainable development of … This report outlines three categories of vulnerability: lowest, intermediate and highest. This new edition first investigates what China’s transformation has meant for global development perspectives, and how shifting wealth has affected countries beyond economic terms, exploring well-being across the developing world. It adds a country’s fiscal deficit, current account deficit, and inflation. Variation was high within each region. It also analyses and draws lessons from development paradigms over the past 70 years, showing that developing nations in the 21st century have to invent their own, original pathways to greater well-being and sustainability. In 2003, the severe acute respiratory syndrome (SARS) virus dragged the world’s output down by $50 billion. The report is based on the third iteration of the index, which ranks 60 cities across 57 indicators covering digital security, health security, infrastructure security and personal security. Economic Survey 2019: Secular drop in economic policy uncertainty in the last four years The survey pointed out that EPU index shows peaks in few months of 2011 and 2012, reflecting the policy paralysis during that period. Read more about the Index and the international panel that helped develop it, download the report and data model, and watch our introductory video. Latin America and Asia each have a small number of countries in the highest and lowest vulnerability groups, while most of the others exhibit intermediate vulnerability. Banking systems, however, are more likely to be resilient in Asian countries – only 18% fall into the highest vulnerability group. This index help identify which regions within our chosen economies (the US, Germany, UK, France, Japan, South Korea and Australia) will be hardest hit by the ongoing automation of the manufacturing sector. The most recent data available — for 2017 and from 1998 to 2017 — were taken into account. In this study, the new index of economic vulnerability—the economic vulnerability index by Feindouno and Goujon (2016), which captures the three main aspects of instabilities (i.e. World Economic Outlook October 2019: Global Manufacturing Downturn, Rising Trade Barriers. The EIB COVID-19 Economic Vulnerability Index examines three main factors that influence the resilience of economies to the COVID-19 shock. Vienna, Austria (99.1) 2. Washington. 20 In the spatial assessment of socio -economic vulnerability, urban facilities are the most frequent variables , and population density is the most common indicator. The primary World Bank collection of development indicators, compiled from officially-recognized international sources. The Climate Change Vulnerability Index evaluates the vulnerability of human populations to extreme climate events and changes in climate over the next 30 years. Driven by top 10 ratings in economic productivity, political stability, control of corruption and corporate governance, Norway boasts low natural hazard exposure and has decreased its economic reliance on oil. Ferdi has contributed in the past to the definition of the Economic Vulnerability Index (EVI), which is one of the three criteria used by the United Nations to identify Least Developed Countries (LDCs). Afghanistan’s economic freedom score is 54.7, making its economy the 136th freest in the 2020 Index. This indicator has also been proposed as a criterion for allocating official development assistance. is the online library of the Organisation for Economic Cooperation and Development (OECD) featuring its books, papers and statistics and is the knowledge base of OECD's analysis and data. The vulnerability index does not reflect the evolving policy responses in each country or how the pandemic will unfold. Vulnerability maps for the social, economic, and environmental dimension, based on the geon approach and integrating expert weights are shown in Figures 3.8–3.10. Quantitative measures of social vulnerability are widely used in research and practice. The time has come to rethink international co-operation and foster more effective exchanges of social and human capital. The countries and territories affected most in 2017 were Puerto Rico, Sri Lanka as well as Dominica. In addition, the weaker average capacity of economic systems in poorer countries can magnify how a drop in export revenues impacts economic stability. More details on the data used in this report and the construction of the index can be found in the Annex of the report. Platz unter den 28 EU-Mitgliedstaaten. About the JobsEQ COVID-19 Economic Vulnerability Index This index, created by the Chmura team based on 2019 Q4 industry employment data, is a measurement of the negative impact that the coronavirus crisis can have on employment based upon a region's mix of industries. The Global Climate Risk Index 2019 analyses to what extent countries and regions have been affected by impacts of weather-related loss events (storms, floods, heat waves etc.). For example, commodity exports make up an estimated 14% of gross domestic product (GDP) in Nigeria, suggesting the country is at a much lower risk level than many high-income oil exporters, such as the United Arab Emirates. Balica, N.G. The Global Liveability Index 2019. 2019, following a strong (12.2%) first quarter of the year. For a clearer understanding of these impacts, our Economics Department developed an index based on a small set of economic indicators to rate countries’ vulnerability to the crisis. GHS Index Map. WTO webinar and documents on COVID-19 and LDC graduation 8 December 2020; Vanuatu has graduated from the LDC category 4 December 2020; … Resilience in Latin America and Asia is mixed A significant number of countries in Latin America and Asia are in the highest vulnerability group based on the capacity of their healthcare systems and their vulnerability to capital outflows. The Knowledge Index or KI is an economic indicator prepared by the World Bank Institute to measure a country's ability to generate, adopt and diffuse knowledge. The GHS Index is the first comprehensive assessment of global health security capabilities in 195 countries. Another factor is that their populations are beginning to age. Since then, Perspectives on Global Development has been tracking the shift in global wealth and its impact on developing countries. 2. To help you, Bloomberg created this real-time dashboard of key economic indicators from every corner of the world. The need to address the healthcare and economic impacts of COVID-19 has driven up expenses, while a slowing economy and falling commodity prices have drastically cut revenues for many countries. The Global Climate Risk Index 2019 analyses to what extent countries and regions have been affected by impacts of weather-related loss events (storms, floods, heat waves etc.). Economic Vulnerability Index Last updated March 26, 2019 "Economic vulnerability index" is one of the criteria used by the United Nations Committee for Development Policy, [1] an advisory body to the United Nations Economic and Social Council [2] in the identification of Least Developed Countries. Austria's capital, Vienna, has ranked the most liveable city among the 140 cities surveyed by The Economist Intelligence Unit for the second year in a row. Older societies and poorly functioning healthcare systems often make countries vulnerable to the health impacts of the pandemic. You will now receive our monthly newsletter.Please tell us a bit more about yourself. The index provides a single figure rating for climate change exposure, sensitivity and adaptive capacity, helping companies calculate risks from future climate change. Melbourne, Australia (98.4) 3. Based on the number of countries that had scores in the medium vulnerability category, two tiers were added to the classification system: (a) medium (low) vulnerability comprising index scores of 0.34 to 0.49; and (b) medium (high) vulnerability comprising index scores of 0.50 to 0.69. Engaging with civil society organisations, An analysis of countries outside the European Union. Since then, Perspectives on Global Development has been tracking the shift in global wealth and its impact on developing countries. Our website uses anonymised cookies to give you the best browser experience and to collect aggregated statistics. A number of Caribbean and Pacific countries will be badly affected, exacerbating the shock already sustained from the fall in tourism. 40.2. This includes Kyrgyzstan, where remittances account for at least a third of GDP. Please tell us a bit more about yourself Where do you currently work? Download EIB COVID-19 Vulnerability Index. We are strengthening economies and healthcare systems while fighting for a smart, green recovery. The vulnerability evaluation index system of Tianjin urban economic system was established; entropy method was used to determine the weight of each evaluation index. Vienna has retained pole position, overcoming stiff competition from Melbourne, Sydney, and Osaka. Refugee influx Emergency Vulnerability Assessment– REVA 2019 Contents 1. This chart shows the Environmental Vulnerability Index (EVI) by Country.. The assessment shows that the vulnerability index is the highest for Assam (0.72) and Mizoram (0.71). Moreover, degraded and outdated infrastructure is especially vulnerable. Countries in Asia were the first to begin implementing restrictions. The Global Liveability Index 2019 Tue, 22nd Oct 2019 The EIU’s Global Liveability Index 2019 has crowned Vienna as the world’s most liveable city. Click to scroll down ⬅︎ Click below to see full image and related information ︎. In the Southern Neighbourhood, one country, Lebanon, is in the highest vulnerability group, but most of the others have intermediate vulnerability. Subscribe and receive monthly updates of the EIB’s activities around the world. Only 20% of countries in Latin America and 15% in sub-Saharan Africa are in the highest or intermediate vulnerability group for global value chains. Of the countries facing the highest vulnerability to the crisis, only two – Antigua and Barbuda and the Bahamas – are high-income. A majority of workers in the world are informally employed and contribute to economic and social development through market and non-market activities that are not protected, regulated, well-recognised or valued. The analysis focuses on emerging markets and developing countries outside the European Economic Area and the European Union. The ND-GAIN Country Index, a project of the University of Notre Dame Global Adaptation Initiative (ND-GAIN), summarizes a country's Vulnerability to climate change and other global challenges on the one hand and its Readiness to improve resilience on the other hand. Calculated by dividing the number of people living in arid, semi-arid and dry subhumid lands (i.e., areas with an aridity index between 0.05 and 0.65) by the total population of the country The Safe Cities Index 2019 is a report from The Economist Intelligence Unit, sponsored by NEC Corporation. We then use principal component analysis (PCA) to compute a standardized index for each exposure, vulnerability, and resilience. Note that the importance of this vulnerability factor may be understated for poorer countries. Household Consumption Data and Statistics. However, the IMF lists Afghanistan, Argentina, Bhutan, Ecuador, Guyana, Laos, the Maldives, Nicaragua and Venezuela at high or moderate risk of debt distress. It is laying bare our vulnerabilities and creating many new challenges. As with commodity revenues, underlying weaknesses in the economic system could magnify how poorer countries are impacted by a drop in foreign exchange revenues resulting from collapsing tourism receipts. As 2019 comes to a close, the US economy earns its highest ratings in almost two decades, potentially boosting President Donald Trump in matchups … Each index is a summary of a different subset of Census variables and focuses on a different aspect of socio-economic advantage and disadvantage. Wright, and F. van der Meulen, “A flood Vulnerability Index for Coastal Cities and its use in Assessing Climate Change Impacts,” Natural Hazards (2012): 64 – 73. In response to the need expressed by the UN General Assembly, an economic vulnerability index (EVI) has been defined by the Committee for Development Policy. 2019) to proxy for exposure, vulnerability, and economic resilience. We do not know when we will find a vaccine. The April 2019 Global Financial Stability Report (GFSR) finds that despite significant variability over the past two quarters, financial conditions remain accommodative. The Climate Change Vulnerability Index can help you: Understand the exposure of your operations, supply chains, and investments to climate change-related risks Bosnia and Herzegovina is the only country in the most highly exposed group to capital outflows. Although a relatively small proportion of these regions’ countries are above the public debt-to-GDP threshold that would put them into the highest vulnerability category, they in reality have far less capacity to cope with public debt than their peers in other regions. The countries and territories affected most in 2017 were Puerto Rico, Sri Lanka as well as Dominica. The vulnerability of ENCA and Southern Neighbourhood countries is largely driven by their banking systems and the risk of unmanageable capital outflows. It evaluates 42 social, economic and environmental factors to assess national vulnerabilities across three core areas. Economic Vulnerability Index July 2020 Overview and Technical Guidance. Oxford Economics is a leader in global forecasting and quantitative analysis, with the world’s only fully integrated economic model and 250 full-time economists, we help our clients track, analyse, and model country, industry, and urban trends. ND-GAIN Country Index. Heavy dependence on particular revenue is a strong driver of COVID-19 vulnerability Less diversified economies are at high risk when they are hit by a crisis such as COVID-19. The banking systems in the Western Balkan countries are more vulnerable to a protracted crisis, with the risk particularly high in Albania, Bosnia and Herzegovina and Montenegro. Economic indicators for Viet Nam Viet Nam's GDP is expected to grow by 1.8% in 2020 and 6.3% in 2021 – ADO 2020 Update Viet Nam's inflation rates forecasted at 3.3% in 2020 and 3.5% in 2021 – ADO 2020 Update; GDP growth; Inflation; Current account balance Download data: GDP Growth Download data: Inflation Rates Download data: Current Account Balance. However, Nigeria has a very poorly functioning tax system, with tax revenues accounting for just 3-4% of GDP, and its ability to generate revenue from sources other than oil is very weak. Approval was partially successful, following selected items could not be processed due to error, http://instance.metastore.ingenta.com/content/component/persp_glob_dev-2019-graph20-en, https://doi.org/10.1787/persp_glob_dev-2019-graph20-en, South Georgia and the South Sandwich Islands, https://doi.org/10.1787/persp_glob_dev-2019-en, Evolution of the economic vulnerability index. 2019. The Design of an Economic Vulnerability Index and its Use for International Development Policy 1 Introduction Economic vulnerability of developing countries is not really a new issue. Several countries in the ENCA region are among the most vulnerable to drops in remittances (mainly from Russia). In response to the need expressed by the UN General Assembly, an economic vulnerability index (EVI) has been defined by the Committee for Development Policy. [3] It is a crisis like no other. The top 10 most liveable cities in the world, and their scores according to The Global Liveability Index 2019, are: 1. The index covers countries outside the European Union and helps give an idea of the regions that need the most help. 2019 Resilience Index Annual Report 3 of 20 2019 KEY RESULTS Norway leads the rankings of the 2019 FM Global Resilience Index. We quantify the vulnerability of low- and middle-income countries based on impact channels. The pace at which containment measures were applied varied around the world, as outlined in the below chart. As a result, oil accounts for at least half of Nigeria’s fiscal revenues. As a result, financial vulnerabilities have continued to build in the sovereign, corporate, and nonbank financial sectors in several systemically important countries, leading to elevated medium-term risks. Across the two regions, 24 states are at high risk of debt distress or currently in debt distress, with a further 16 classified as facing moderate risk. Building on four decades of experience in benchmarking competitiveness, the index maps the competitiveness landscape of 141 economies through 103 indicators organized into 12 themes. Few countries in either region fall into the highest vulnerability category based on the ratio of public debt to GDP. However, this youth factor does not offset the lower capacity of most of the healthcare systems in sub-Saharan Africa and Latin America to handle a large number of COVID-19 cases. Each indicator, using a scale from 0 to 100, shows how close an economy is to the ideal state or “frontier” of competitiveness. Im heute (Montag) veröffentlichten Digitalen Wirtschafts- und Gesellschaftsindex (Digital Economy and Society Index - DESI) 2019 belegt Deutschland den 12. This index. A relatively small number of Caribbean and Pacific countries are in the most highly exposed group to the risk of capital outflows, but a large number of sub-Saharan African countries are in the highest or intermediate exposure group based on their basic balances. Sikkim is the least vulnerable state with the index being 0.42. Half of low-income countries and 25% of middle-income countries face the highest risk of COVID-19. The Barbados Programme of Action (BPoA), Section C5 Vulnerability Index (paragraphs 113 and 114) called for the development of vulnerability indices and other indicators that reflect the status of small island developing states and integrate ecological fragility and economic vulnerability… It is creating huge uncertainties and long-term shifts in consumer preferences and production practices. 1. scoring. However, they are less likely to fall into the highest risk category for public debt. The thresholds for this index were based on the EIB Economics Department’s understanding of the underlying economic variables, and the approach is detailed in the Annex. However, its key development challenges still include poverty, inequality, climate change, continued weak private sector investment and the vulnerability of the economy to internal and external shocks. Contact one of our intermediaries! As a concept, social vulnerability describes combinations of social, cultural, economic, political, and institutional processes that shape socioeconomic differentials in the experience of and recovery from hazards. This is the worst average global score since The Economist Intelligence Unit first produced the Democracy Index in 2006. It adds a country’s fiscal deficit, current account deficit, and inflation. Looking for an SME loan? Join the bank that invests in the things that matter! The Environmental Vulnerability Index (EVI) is a measurement devised by the South Pacific Applied Geoscience Commission (SOPAC), the United Nations Environment Program and others to characterize the relative severity of various types of environmental issues suffered by 243 enumerated individual nations and other … A number of the affected countries are very highly exposed, deriving up to 60% of their GDP from tourism. Our Robot Vulnerability Index highlights specific regions that are at highest risk of labour disruption—but also reveals some common patterns across regions. Climate Vulnerability Index (CVI): Climate Vulnerability Index (CVI) A systematic tool to rapidly assess climate change risk to World Heritage. Remittance dependence appears less widespread in Asia, Latin America and sub-Saharan Africa, although it is an important source of revenue for many countries in these regions too. Kenya has made significant political, structural and economic reforms that have largely driven sustained economic growth, social development and political gains over the past decade. In the Western Balkans, Albania, Bosnia and Herzegovina and Montenegro fall into the highest vulnerability group for declines in tourism, remittance receipts or both. Welcome to the2019 Global Health Security Index. The most recent data available — for 2017 and from 1998 to 2017 — were taken into account. Countries whose manufacturing sectors rely on inputs produced abroad may be more vulnerable if there are lockdowns and curfews where these offshore production sites are located. Most of the countries in the EU’s Eastern Neighbourhood and Central Asia (ENCA) are in the intermediate vulnerability group, with the poorest two, Kyrgyzstan and Tajikistan, falling into the highest vulnerability category. Of the Western Balkan countries, only North Macedonia belongs to the group with the highest exposure to global value chains (Figure 3), and Turkey falls into the lowest vulnerability group based on the data available. Some common uses of SEIFA include: determining areas that require funding and services identifying new business opportunities research into the relationship between socio-economic disadvantage and … Note that informal remittances are generally not reported and several studies suggest a higher incidence in Latin America and sub-Saharan Africa than in other regions, meaning that their vulnerability to a drop in remittances is probably underestimated. This chart shows the Environmental Vulnerability Index (EVI) by Country.. This is reflected in the relatively high proportion deemed at high risk of debt distress before the crisis, according to the IMF. Low-income and developing countries are often very vulnerable when a crisis strikes. 46 S.F. However, given that China’s GDP share of 17% globally in 2019 was four times higher than in 2003 and with confirmed cases more than double the total of SARS, the coronavirus outbreak is estimated to cost the global economy up to $360 billion. 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