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Among suggestions, the paper proposes including vulnerability as a measure of income, combining the Commonwealth Universal Vulnerability Index with GDP. Commonwealth is a traditional English term. They are Kentucky, Massachusetts, Pennsylvania, and. Yet vulnerability is not identified in the current measurement system used to provide development finance to countries most in need. Commonwealth is a term used by four of the 50 states of the United States in their full official state names. What are the US states that are commonwealth states In the United States of America four states style themselves Commonwealths. As many small states import basic produce such as food, their economies are often vulnerable to external and natural shocks. The economic impacts of COVID-19 were felt by every country, with Commonwealth small states worst affected. Application of the Commonwealth Universal Vulnerability Index: GDP+ (PDF).There is also analysis of the impacts and solutions for the tourism industry. As well as climate change impacts and persistent debt levels, the Review highlights the sharper economic contractions felt by small states at the height of the pandemic, due to high dependence on trade and tourism sectors. The 21 st volume of the Small States Economic Review examines the impacts of COVID-19 on Commonwealth small states. Small States Economic Review and Basic Statistics Volume 21 (PDF).Explore our Small States publications and research Latest reports