Download GlobalData’s Covid-19 Executive Briefing report
- ECONOMIC IMPACT -
Latest update: 18 August
Worldwide GDP forecast is positive, with the consensus forecast for global GDP growth in 2021 currently 6.0%.
Public debt levels are soaring due to unplanned spending, such as stimulus packages, with debt in the UK, US and Japan set to exceed more than 100% of GDP by 2022.
The US Federal Reserve has provided $2.3tn in loans to support the national economy since April.
Global added renewable energy capacity in 2020 was 4% higher than in 2019.
Impact of Covid-19 on equity indices
- SECTOR IMPACT: POWER -
Latest update: 3 September
In 2020, coal demand dropped by 220 million tonnes of coal equivalent, or 4%. In 2021, coal demand has rebounded strongly, reversing the declines in 2020, though with major geographic variations.
In 2021, oil demand is expected to rebound by 6%, faster than all other fuels. The last time oil demand increased this rapidly was in 1976. Despite the strong rebound, oil demand remains 3% (3.1 mb/d) below 2019 levels.
The combination of continued lower prices and rapid growth in economies across Asia and the Middle East should drive growth of 3% in gas demand in 2021. As a result, global natural gas demand in 2021 is projected to rise 1.3% above 2019 levels.
Generation from wind and solar PV is set to grow by 17% in 2021, up from 16% in 2020. Two years of rapid growth means the share of renewables in total electricity generation will reach almost 30% in 2021, up from less than 27% in 2019
Renewables usage grew by 3% in 2020, largely due to an increase in electricity generation from solar PV and wind of 330TWh.