How Much Can COVID-19 Increase the External Sector Vulnerability of a Country?

The present research tries to evaluate how a global pandemic can increase any country's external sector vulnerability. Therefore, we propose a new dynamic indicator that is entitled "The External Sector Vulnerability Increment from a Global Pandemic Index (ΔESVIGP)." The ΔESVIGP offers policy-makers and researchers a new analytical tool to evaluate how a global pandemic such as COVID-19 can dramatically increase any country's sector vulnerability anywhere and anytime. The ΔESVIGP is not intended to be a predicting indicator in any case. It shows that any global pandemic crisis can significantly increase the external sector vulnerability in the short run. Finally, the application of the ΔESVIGP is under the evaluation of the global COVID-19 crisis impact of each ASEAN-5-member (Singapore, Malaysia, Indonesia, Thailand, and the Philippines) external sector vulnerability