The average economic growth of the G20 participating countries in the first quarter of this year amounted to 0.9 percent. During the specified period, Turkey demonstrated the highest economic growth among countries – the participants of the “big twenty” – 2.4 percent.
This is stated in the report of the Organization of Economic Development and Cooperation (OECD) according to economic data for the first quarter.
Economic growth in the G20 countries increased slightly compared to 0.7 percent in the previous quarter.
The driving force of economic growth in the “big twenty” was the growth of the economies of China and India. In China, India, Turkey, Saudi Arabia, South Korea and Indonesia, higher growth rates were recorded than in the countries of the “big twenty” as a whole.
at the second after Turkey, the place in terms of economic growth rates – India (1.9 percent), China (1.6 percent), Saudi Arabia (1.4 percent), South Korea (1.3 percent) and Indonesia (Indonesia (1.3 percent) (1.3 percent) 1.2 percent).
The economy of Saudi Arabia recovered in the first quarter of this year after 0.6 percentage in the last quarter of last year. Economic growth in China, South Korea and Turkey, compared with the last quarter of last year, increased, and in India and Indonesia, it decreased somewhat.
In the first quarter of the year, the US economy grew by 0.3 percent, which indicates a slowdown in growth compared with an increase of 0.8 percent in the previous quarter.
Japan’s economy decreased by 0.5 percent, and South Africa is 0.1 percent. In Brazil, Great Britain and Germany, economic indicators have grown compared to the last quarter of 2023.
Economic growth in the G20 countries in the first quarter of the year in annual terms amounted to 3.3 percent. India took first place with indicators of 8.4 percent, the second with 7.4 percent of Türkiye.