G20 economies narrow 3.3% in 2020: Int'l group

- Only China, Turkey record growth, while UK sees largest fall amid pandemic, OECD says in statement

With the economic fallout from the coronavirus pandemic, the gross domestic product (GDP) in the G20 area decreased 3.3% year-on-year in 2020, a global economic body revealed on Monday.

All G20 countries, which data are available for, narrowed last year while only China and Turkey recorded growth with 2.3% and 1.8%, respectively, the Organization for Economic Co-operation and Development (OECD), an intergovernmental economic organization with 37 member countries, said in a statement.

Among the G20 economies, the UK economy saw the largest shrinkage with 9.9% in 2020, the OECD data showed.

In the last quarter of 2020, G20 economies grew 2.1%, down from the large rebound in the previous quarter (7.8%) that followed the unprecedented falls in the first half of the year due to COVID-19 containment measures.

The GDP growth in most of the G20 economies remained positive in October-December 2020, with India recording the highest growth at 7.9%.

The GDP contracted in Italy and France by minus 1.9% and minus 1.4%, respectively in the last quarter.

By Tuba Sahin

Anadolu Agency

energy@aa.com.tr