Independent journal on economy and transport policy
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In the first quarter of 2021, gross domestic product in the G20 area returned to pre-pandemic levels
This recovery - underlines the OECD - hides great differences between the economies of the various nations
June 10, 2021
In particular, among the G20 economies, India, Turkey and China, whose gross domestic product was already above levels pre-pandemic in the previous quarter, continued their +2.1%, +1.7% and +0.6% respectively (after +9.3%, +1.7% and +2.6% in the previous quarter). In the first quarter of this year the GDP of Australia, South Korea and Brazil is also returned to pre-pandemic levels, with GDP growing +1.8%, +1.7% and +1.2% respectively.
For the remaining G20 economies, in the first quarter of 2021 GDP was still lagging behind the pandemic, with countries that have experienced divergent trends. While the growth of gross domestic product has suffered acceleration in the United States (+1.6% after +1.1% in 2019) fourth quarter of 2020) and in Italy (+0.1% after a contraction of +1.8%), instead marked a slowdown in Indonesia (+1.6% after +2.3%), Canada (+1.4% after +2.2%), South Africa (+1.1% after +1.4%) and Mexico (at +0.8% after +3,2%). Growth has also become negative in Germany (-1.8% after growth of +0.5%), the United Kingdom (-1.5% after a growth of +1.3%), Japan (-1.0% after growth of +2.8%) and Saudi Arabia (-0.1% after +2.5% growth). In France, the GDP continued to contract for the second consecutive quarter, although at a slower pace (-0.1% after -1.5%). in the the United Kingdom and Italy recorded the largest differences from pre-pandemic GDP levels, respectively at -8.7% and -6.4%, but also Germany, France, the euro area and the Eu ropean Union still recorded gaps of more than 4.0%.
The OECD has reported that year-on-year GDP growth g20 area in the first quarter of 2021 rebounded to the +3.4% after a contraction of -0.7% in the previous quarter. between the G20 economies, China, which has been hit by the Covid-19 in a previous phase compared to other countries, recorded the highest annual growth (+18.3%), while the The United Kingdom recorded the largest annual decline (-6.1%).
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In particular, among the G20 economies, India, Turkey and China, whose gross domestic product was already above levels pre-pandemic in the previous quarter, continued their +2.1%, +1.7% and +0.6% respectively (after +9.3%, +1.7% and +2.6% in the previous quarter). In the first quarter of this year the GDP of Australia, South Korea and Brazil is also returned to pre-pandemic levels, with GDP growing +1.8%, +1.7% and +1.2% respectively.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
