Mexico is one of the six G20 countries that has not yet recovered its pre-pandemic levels and is one of the two countries that did not register any kind of growth during the last quarter of 2021.
What are we talking about? According to a report published by the Organization for Economic Co-operation and Development (OECD) on March 15, the Mexican economy stagnated at 0.0% in the fourth quarter of 2021.
- This number was followed by a -0.7% contraction in the third quarter of that year. The calculation of the overall growth in that period is estimated at 1.1%.
- On the other hand, Mexico is one of the six G20 countries that has not yet recovered the level of GDP it was at before the pandemic.
- Mexico is at the bottom of a list made up of Germany, Italy, Japan, the United Kingdom and South Africa.
Why is it suitable? After Mexico, the other economy to record zero growth within the group was Germany, at 0.3% in the fourth quarter of 2021 and was the only economy in Europe to contract.
- Altogether, the GDP of the G20 countries increased by 1.4% between the third and fourth quarters of 2021.
- The slowdown in the G20 in the last quarter of 2021 is mainly due to slower growth in India.
- However, most countries recorded stronger growth in the fourth quarter of 2021 than in the third quarter.
- On the part of the great powers, the United States of America recorded a growth of 1.7% and China 1.6%.
Main news source: Finance.
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