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Record fall in G20 GDP in first quarter of 2020

G20 Gross Domestic Product
Percentage change on the previous quarter, s.a.

Record fall in G20 GDP in first quarter of 2020‌‌‌‌

11/06/2020 - Following the introduction of COVID-19 containment measures across the world, real gross domestic product (GDP) in the G20 area fell by 3.4% in the first quarter of 2020, the largest contraction since the time series started in 1998, according to provisional estimates. As a comparison, GDP fell by only 1.5% in the first quarter of 2009 at the height of the financial crisis.

Among G20 economies, those that introduced stringent lockdowns measures earliest saw the largest contractions in GDP in the first quarter of 2020: China (by minus 9.8%), and France and Italy (minus 5.3%, in both countries).


 

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