The gross home product (GDP) of the G20 economies as an entire recovered within the first quarter of 2021 its pre-pandemic ranges, in keeping with knowledge launched this Thursday by the Organization for Economic Cooperation and Development (OECD), though there are massive variations within the tempo of restoration between these nations.
In this manner, the G20 as an entire registered within the first quarter a rise of 0.1% of its GDP in comparison with the fourth quarter of 2019, the final earlier than the pandemic unfold globally. Among the nations which have recovered probably the most from the disaster are China (+ 7.1%), Turkey (+ 6.8%) and India (+ 2.7%).
On the opposite, probably the most affected G20 nation is the United Kingdom, whose GDP within the first quarter was nonetheless 8.7% decrease than that recorded within the fourth quarter of 2019. It is adopted by Italy (-6.4%), Germany (-5%) and France (-4.7%).
Compared to the fourth quarter of 2020, the Group of 20 economies as an entire expanded by 0.8%, whereas in comparison with the primary quarter of 2020, the rise was 3.4%.