The result means a slowdown compared to the previous quarter, which recorded an increase of 1.4% in the GDP of the countries that make up the Group of Twenty.
Gross Domestic Product (GDP) of the countries that make up it G20 The fourth quarter from last year closed up slightly by 0.3%, according to data released Wednesday (3/15) by the Organization for Economic Co-operation and Development (OECD).
The result means a slowdown compared to the previous quarter which posted an increase of 1.4%.
According to the Organization for Economic Co-operation and Development, the average GDP growth of the G20 countries in 2022 was 3.2%, which is significantly lower than the result of the previous year (+6.3%).
In the fourth quarter of last year, almost all G-20 members did badly in the economy.
Between October and December 2022, GDP contractions occurred in Germany (-0.4%), South Korea (-0.4%), Brazil (-0.2%), Italy (-0.1%), and South Africa (-1.3%).
Among the countries that make up the G20, Saudi Arabia had the highest rise in GDP in 2022, growing by 8.7%. The lowest annual growth rate was in Japan (1%).
In a statement, the Organization for Economic Co-operation and Development classified 2022 as a “volatile year,” with a 0.7% increase in GDP for G20 countries in the first quarter and a 0.2% decrease in the second quarter.
According to the entity, the slowdown in the last three months of the year was mainly due to difficulties in China, which faced a new peak in Covid-19 cases.
The G20 is a group of the 19 largest and most important economies in the world and the European Union.
In addition to Brazil, the G20 consists of South Africa, Germany, Saudi Arabia, Argentina, Australia, Canada, China, South Korea, the United States, France, India, Indonesia, Italy, Japan, Mexico, the United Kingdom, Russia and Turkey. and the European Union.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.