September 14, 2020
- In the second quarter of 2020, the GDP of the G20 countries
recorded an unprecedented decline
- The decline on the previous quarter was
-6.9% and year-over-year of -9.1%
- In the second quarter of 2020, the measures to contain
Covid-19 pandemics have had a major impact on the activity
most of the G20 countries that have recorded
unprecedented declines in gross domestic product at constant prices.
The Organisation for Economic Co-operation and Development (OECD)
announced that overall the G20 GDP marked a
cyclical change of a record negative sign of -6.9% compared to
in the second quarter of 2019 which is significantly higher than
compared to -1.6% in the first quarter of 2009
at the height of the financial crisis.
- In the April-June period of this year, China was
the only G20 nation to grow by 11.5%,
OECD said it was "reflecting the early start of the
pandemic in this country and the subsequent recovery of the economy. In
other G20 economies, where the effects of
pandemics began in the period to make themselves felt more
gross domestic product contracted on average.
- In particular, GDP fell dramatically in
India (-25.2%), followed by the United Kingdom (-20.4%), Mexico (-17.1%),
South Africa (-16.4%), France (-13.8%), Italy (-12.8%), Canada
(-11.5%), Turkey (-11.0%), Brazil and Germany (-9.7%), United States
(-9.1%), Japan (-7.9%), Australia (-7.0%) Indonesia (-6.9%). The
contraction was less pronounced in Korea and Russia (-3.2%
- In the second quarter of 2020, the trend change in GDP
G20 area was -9.1% in the second quarter of the year.
2019, after a year-on-year contraction of -1.7% in the quarter
Previous. Among the G20 economies, China recorded the
higher annual growth (3.2%), while India
recorded the largest annual decline (-23.5%).