Last year, Korea ranked 3rd in real GDP growth in OECD…1st in China

Input 2021.02.23 13:48

Last year, Korea’s real gross domestic product (GDP) growth rate was the third highest among the 15 major countries of the Organization for Economic Cooperation and Development (OECD). –

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Although the growth rate fell to negative, it was higher than that of major countries. This is because the aftermath of the spread of the novel coronavirus infection (Corona 19) was more serious in other developed countries.

According to the Organization for Economic Cooperation and Development (OECD) on the 23rd, last year, Korea’s real gross domestic product (GDP) growth rate was -1.0%, the third highest after China (2.3%) and Norway (-0.8%) out of 15 major countries.

Indonesia (-2.1%) and Sweden (-2.8%) ranked 4th to 5th. This was followed by the United States (-3.5%), Japan (-4.8%), and Germany (-5.0%).

France and Italy, where the spread of Corona 19 was large, also decreased significantly to -8.2% and -8.9%, respectively.

The OECD explained that “the GDP of member countries has decreased by -4.9% annually in 2020,” and “this is the largest decline since 1962.” “GDP declined in almost all countries,” he said. “Looking at the seven major countries, the decline was from -3.5% in the US to -9.9% in the UK.”

The OECD collects quarterly data from each member country and publishes it at the beginning of each year. The figures released this time are’provisional’ without final adjustments. The OECD said that as the spread of Corona 19 has made it difficult to collect data, there may be more revisions this year than in the past.

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