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G20 GDP returns to pre-pandemic levels in Q1 2021: OECD

According to the Organization for Economic Co-operation and Development, gross domestic product (GDP) in the Group 20 (G20) region returned to pre-pandemic levels in the first quarter of 2021 (Q1), 0.8 compared to the fourth quarter of 2020. Increased by%. However, the Organization for Economic Co-operation and Development (OECD), which stated this number, hides significant differences between countries.

In the G20 economy, India, Turkey and China, whose GDP was already above pre-pandemic levels in the previous quarter, continued to recover 2.1%, 1.7% and 0.6% in the first quarter of 2021, respectively (9.3%). Or later). , 1.7% and 2.6% in the fourth quarter of 2020).

GDP in Australia, South Korea and Brazil also returned to pre-pandemic levels in the first quarter of 2021, with GDP increasing by 1.8%, 1.7% and 1.2%, respectively, the OECD said on its website.

For the rest of the G20 economy, GDP is still lagging behind pre-pandemic levels, with countries recording different developments in the first quarter of 2021. Italy (1.8% shrink to 0.1%), growth Indonesia (2.3% to 1.6%), Canada (2.2% to 1.4%), South Africa (1.1% to 1.4%) and Mexico (0.8%, after 3.2%).

Growth also turned negative in Germany (after minus 1.8% and 0.5% growth), the United Kingdom (after minus 1.5% and 1.3% growth), Japan (after minus 1% and 2.8% growth) and Saudi Arabia. Arabia (minus 0.1% after 2.5% growth).

In France, GDP continued to shrink for the second straight quarter, but at a slower pace (minus 1.5% followed by minus 0.1%). Overall, the UK and Italy recorded the largest gaps of pre-pandemic GDP levels of minus 8.7% and minus 6.4%, respectively, while Germany, France, the Eurozone and the European Union also recorded a gap of more than 4 per capita. Recorded St.

Year-over-year GDP growth in the G20 region recovered to 3.4% in the first quarter of 2021, following a 0.7% decline in the previous quarter. Among the G20 countries, China, which was affected by COVID-19 earlier than other countries, recorded the highest annual growth rate (18.3%), and the United Kingdom had the highest annual growth rate (minus 6.1%). Was recorded.

Fiber2Fashion News Desk (DS)

According to the Organization for Economic Co-operation and Development, gross domestic product (GDP) in the Group 20 (G20) region returned to pre-pandemic levels in the first quarter of 2021 (Q1), 0.8 compared to the fourth quarter of 2020. Increased by%. However, the Organization for Economic Co-operation and Development (OECD), which stated this number, hides significant differences between countries.



G20 GDP returns to pre-pandemic levels in Q1 2021: OECD

Source link G20 GDP returns to pre-pandemic levels in Q1 2021: OECD

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