Evaluation of Economic Loss of 2018/2019 African Swine Fever outbreaks in China
Abstract This study evaluates the total economic loss due to the outbreaks of African Swine Fever (ASF) in China between August 2018 and July 2019. We propose a systematic framework to assess both the direct economic loss on the Chinses breeding industry and indirect economic loss on other sectors. Our evaluation system integrates various statistical analysis methods by applying the cost-loss model and substitution indicator method to calculate direct economic losses and using input-output (IO) model to estimate indirect economic losses. The proposed method provides an innovative and commonly applicable way to deal with the missing data that needs to be adjusted and repaired to be used for economic shock evaluation. We find that total economic loss caused by ASF is 224.768 billion yuan consisting of 99.042 billion yuan direct economic loss of the breeding industry and 125.726 billion yuan indirect economic loss of other industries. Our findings suggest that the overall impact of ASF on China's national economy is relatively small, mainly local and short-term impacts on the swine industry.