GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing a nation's domestic market because PPP takes into account the . Country. The reasons for growth were widespread, including an increase in consumer spending, business investment, exports, and new single family home construction. This page displays a table with GDP Growth Rate for a list of countries . "Gross domestic product (GDP) growth rate in the Nordics from 2012 to 2022." Ireland experienced GDP growth of 13.5% in 2021, driven largely by record-high exports. The good news is that some countries are absorbing the shock thanks to higher bank reserves and reasonable growth. Inflation in the region is set to ease in 2023, partially due to a base effect and as the impact of tighter monetary policies trickles down to Nordic economies. Read more Gross domestic product (GDP) growth. At $22.9 trillion, the U.S. GDP accounts for roughly 25% of the global economy, a share that has actually changed significantly over the last 60 years. The page provides access to the GDP per capita forecast for different countries for the 2020-2024 time period from the latest IMF's World Economic Outlook (WEO). *2020 GDP (latest available) used where IMF estimates for 2021 were unavailable. The Nordic countries have some of the highest GDPs per. Most . Against the backdrop of six interest rate hikes and declining equity market performance in 2022, financial markets are facing challenging conditions. "Gross Domestic Product (Gdp) Growth Rate in The Nordics from 2012 to 2022. $129 bn) would be the top gainers. News. Gross domestic product (GDP) per capita at current prices in the Nordic countries from 2010 to 2022, by country (in 1,000 U.S. dollars) [Graph]. In, IMF. International Monetary Fund World Economic Outlook (April-2021), North American countries by GDP per capita. statistic alerts) please log in with your personal account. Most Recent Year. ", IMF, Gross domestic product (GDP) growth rate in the Nordics from 2012 to 2022 Statista, https://www.statista.com/statistics/1275207/gdp-growth-rate-nordics/ (last visited November 10, 2022), Gross domestic product (GDP) growth rate in the Nordics from 2012 to 2022, Key economic indicators of the Nordic countries, Unemployment rate forecasts in the Nordics 2020-2023, Import growth rate forecasts in the Nordics 2020-2023, Export growth rate forecasts in the Nordics 2020-2023, GDP at current prices in the Nordic countries 2011-2026, by country, GDP per capita at current prices in the Nordic countries 2010-2022, by country, GDP growth rate in the Nordics 2012-2022, by country, Net trade in goods and services in the Nordic countries 2010-2020, by country, Exports of goods and services in the Nordic countries 2010-2020, by country, Imports of goods and services in the Nordic countries 2010-2020, by country, Value of imports of goods and services in the Nordic countries 2010-2020, by country, Value of exports of goods and services in the Nordic countries 2010-2020, by country, Unemployment rate in the Nordic countries 2011-2021, by country, Employment rate in the Nordic countries 2011-2021, by country, Employment-to-population ratio among men in the Nordic countries 2010-2020, Employment-to-population ratio among women in the Nordic countries 2011-2021, Unemployment rate among men in the Nordic countries 2010-2020, by country, Unemployment rate among women in the Nordic countries 2011-2021, by country, Current account balance in the Nordic countries 2012-2022, by country, Debt rate in the Nordic countries 2012-2022, by country, Net lending/borrowing in the Nordic countries 2011-2021, by country, Account balance in the Nordic countries 2011-2021, by country, Weekly GDP growth rate in the U.S. 2021-2022, Weekly GDP growth rate in the OECD 2021-2022, Weekly GDP growth rate in the eurozone 2021-2022, Weekly GDP growth rate in the United Kingdom 2021-2022, Mexico: real GDP growth rate 2023, by agency, Gross domestic product (GDP) growth rate in Russia quarterly 2018-2022, Global real GDP growth forecast 2021-2023, by region, Global real GDP growth forecast 2022 and 2023, by group, Real GDP growth forecast in Europe 2022 and 2023, by country, Real GDP growth forecast in Middle East 2022 and 2023, by country, Real GDP growth forecast in Asia and Pacific 2022 and 2023, by country, Real GDP growth forecast in Africa 2022 and 2023, by country, Real GDP growth forecast in Americas 2022 and 2023, by country, GDP growth in the Western Balkans 2019-2024, by country, Quarterly GDP growth rate in Taiwan Q3 2019-Q3 2022, GDP growth in CEE and Central Asia 2019-2024, by subregion, GDP growth in the Western Balkans 2019-2024, Forecast impact of COVID-19 on real GDP growth in Kenya 2020-2023, Gross domestic product (GDP) growth rate Finland 2006-2021, Quarterly GDP growth rate in Macao Q2 2019-Q2 2022, Find your information in our database containing over 20,000 reports, Find a brief overview of all Outlooks here, Tools and Tutorials explained in our Media Centre. Following the recession of 1990, interest rates fell after periods of unprecedented highs in the 1980s. Before diving into the data, its worth highlighting that 2021s GDP growth numbers are impacted by the base effect. Credit market factors, such as mortgage spreads and corporate bond yield spreads, indicate the credit conditions of the economy. will be the top contributor, accounting for 82% of the increase in the North American economy. Today, as U.S. interest rates rise at the fastest pace in decades, emerging markets are facing new pressures. United States (Int. Statista. English: GDP per capita of the Nordic countries in USD from 1990 to 2017. Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. In September 2021, the region had over 27 million people. Out of 24 economies, gdp (nominal) of 21 would increase, and three economies would decrease in 2021 compared to 2020. GDP PER CAPITA, PPP . Accessed November 10, 2022. https://www.statista.com/statistics/1274468/gdp-per-capita-nordic-countries/, IMF. In 2022 the economy was expected to expand 3.5%, unchanged from the July forecast. 2021, only one change in the North American gdp ranking with Haiti will overtake Trinidad and Tobago. However, caution should be taken with this figure as there is considerable uncertainty against the backdrop of the civil war. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. In ppp data, the five largest economies of North America are United States, Mexico, Canada, Dominican Republic, and Guatemala. You only have access to basic statistics. This is based on the most recent data available from the World Bank . and over 1Mio. Sweden's gross domestic product was expected to grow 4.2% this year, up from the 3.6% economists forecast in July. The energy crunch has precipitated corporate bailouts, including one of the highest in Germanys history. Those are all about half the 8.1% contraction forecast for the euro zone in a September Reuters poll. Directly accessible data for 170 industries from 50 countries API users can feed a custom application. In fact: 29% of people spend over 40% of their income on housing costs. Demande en Mariage; Engagement; Mariage jour J; Sance Destination; Sances aprs mariage Day after , Trash the dress Country. Regional inflation picked up to 9.1% in September (August: 8.3%), as price pressures intensified throughout the region barring Iceland. October 11, 2022. Ethiopia like Ghana has been curated by the IMF as one of the fastest-growing economies in the world. Interest rates hit historic highs to rein in inflation, and financial conditions were strained. Then you can access your favorite statistics via the star in the header. Denmark was down to 4.2% from 4.3%. The United Kingdom, Germany, France, and Italy are all among the top ten largest economies and all have populations of under 100 million. All five Nordic countries offer paid parental leave for at least 11 months, based on income from the previous year. Norwegian GDP growth will accelerate to 2.8 per cent in 2021 and 3.7 per cent in 2022, followed by a slowdown to 2.6 per cent in 2023. Country: Updated: Actual: Previous: Austria 2021: 477 B USD: 433: Ireland 2021: 499 B . Date: 24 July 2021: Source: . World output is expected to reach pre-pandemic levels by mid-2021 but much will depend on the race between vaccines and emerging variants of the virus. During these conditions, economic activity can slow and the net worth of households and nonfinancial companies could decline amid tightened credit conditions. Photographer. In the second part of this series, well dive into predictions for GDP growth by country in 2022 and beyond. This is when monetary policy favors lower interest rates to boost economic growth and employment. See also: GDP per Capita Search: Facts about the Nordic countries. $100 billion. Interestingly, it was not until the second half of the decade that growth accelerated, amid low inflation and unemployment. Following the 2016 "Brexit" referendum, the United Kingdom is set to leave the EU. Global food insecurity could also accelerate if a supply crunch worsens. Please try again later. This year, Russias gas supplies to Europe have reduced by half, causing energy prices to hit record highs. (October 11, 2022). 2021. In South America, Chile had one of the highest GDP growth rates of 11.7%. Since then, energy markets have been disrupted, leading European heating costs to skyrocket. With $1.74 tn, United States They include: Burundi - $263.67 South Sudan - $303.15 Malawi - $399.10 Mozambique - $455.01 Democratic Republic of the Congo (DRC) - $456.89 Central African Republic - $480.50 Afghanistan - $499.44 Madagascar - $514.85 Sierra Leone - $518.47 Niger - $535.83 Read also This article includes a lists of countries and dependent territories sorted by their real gross domestic product growth rate; the rate of growth of the value of all final goods and services produced within a state in a given year.The statistics were compiled from the International Monetary Fund World Economic Outlook Database with the vast majority of estimates corresponding to the 2021 . . DataBank. In this case, the year-over-year growth is comparing growth from 2020 to 2021. source: World Bank 10Y 25Y 50Y MAX Chart Compare Export API Embed The price index for gross domestic purchases increased 3.9 percent in 2021, compared with an increase of 1.2 percent in 2020 (table 4). Please create an employee account to be able to mark statistics as favorites. The size of some of these multinationals can result in bloated GDP figures. . Are you interested in testing our corporate solutions? Out of 24 economies, gdp (ppp) of 22 would increase, and two economies would decrease in 2021 compared to 2020. Authoritarian rule has gripped Afghanistan, with the Taliban seeing its one-year anniversary of rule. Slovenia. Furthermore, several extremely small countries, such as Monaco, Luxembourg, and the Cayman Islands - all with fewer than a . statistic alerts) please log in with your personal account. WDI Tables. Dollars). This infographic is available as a poster. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. What effects do they have on growth? The country is home to more than 1,500 multinationals, including some of the top tech and pharma companies, due to Ireland's competitive tax rate. What do financial conditions indicate about the economy? Compared to historical averages, financial markets still fall on the dovish side. Current-dollar GDP increased 10.0 percent, or $2.10 trillion, in 2021 to a level of $22.99 trillion, in contrast to a decrease of 2.2 percent, or $478.9 billion, in 2020 (tables 1 and 3). Argentina, also at high risk, faces over 70% annual increases in inflation which could rise as much as 100% by year-end. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal, Show sources information Given email address is already subscribed, thank you! This page was last edited on 25 July 2021, at 09:44. This Markets in a Minute from New York Life Investments shows the world macroeconomic risk map in 2022 against a shifting economic landscape. As a Premium user you get access to background information and details about the release of this statistic. Japan: $5.06 trillion. This video also compares poorest Asian country's nominal GDP p. Moreover, while Iceland had the lowest GDP per capita together with Finland in 2015, it had the second highest in 2022 ahead of Denmark. United States GDP Summary Stats Download The Gross Domestic Product (GDP) in the United States was worth 22996.10 billion US dollars in 2021, according to official data from the World Bank. Russia and Ukraine supply 10% of the worlds calories and provide 26 countries with at least half of their grain products. WDI Tables. Explore Our DataBank. Sren Sigfusson/norden.org. The United States is the largest economy in North America, followed by Canada and Mexico. IMF updates its economic forecast twice a year: in April and October. Asset prices, as seen in the S&P 500 Index, are part of the leverage category which measures the state of U.S. debt and equity markets. United Kingdom. "It is not demand, but rather supply, that can become a problem in the labour market," Sydbank chief economist Soren Kristensen said in a note last week. Several of these are in Europe, Asia, and smaller island jurisdictions, in addition to North America. Spain. However, reforms that followed the Global Financial Crisis required banks to follow stricter capital requirements, which has put regulated institutions in a stronger position to withstand market turmoil. doi: 10.1787/1f84150b-en Further indicators related to GDP and spending Net lending/borrowing by sector 2021 Selected data only (.csv) Full indicator data (.csv) Despite sweeping sanctions across the ninth-largest economy in the world, GDP is projected to fall -3.4%. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook Especially in English, Scandinavia is sometimes used as a synonym for the Nordic countries. Antigua and Barbuda and St. Kitts and Nevis are the two decliners. A paid subscription is required for full access. In, IMF. Ethiopia's GDP shrunk from 8.4% in 2019 to 6.1% in 2020. With $1.74 tn, United States will be the top contributor, accounting for 82% of the increase in the North American economy. World's GDP is $80,934,771,028,340 ( nominal, 2017). Meanwhile, global inflation is high, and central banks around the world are raising interest rates in response to rising price pressures. On a nominal basis, the US is ahead of China by $6 trillion in 2021. Countries scrambling this year to source more natural gas to replace supplies from Russia are risking years of emissions that could thwart climate goals, the research collaboration Climate Action Tracker said on Thursday. In 2019, tax revenues as a percentage of gross domestic product (GDP) were approximately 46.3% in Denmark, 39.9% in Norway, and 42.9% in Sweden, according to the Organisation for Economic. Household consumption also rose thanks to fiscal support from the government and people withdrawing money from their pensions. United Kingdom: $2.67 trillion. facts. Directly accessible data for 170 industries from 50 countries Their numbers range from 82 million (Germany) to just under 60 million (Italy). Measured by GDP per capita, the Nordic countries have a higher income than the Eurozone countries . GDP: linked series (current LCU) GDP, PPP (constant 2017 international $) . . The size of some of these multinationals can result in bloated GDP figures. There were further increases in quarterly GDP from the third to the fourth quarters for all Nordic countries except Sweden which had a slight decline. Of the nine English regions, the largest . 10. This article is a comparison of the Nordic countries Geography. Military Expenditure in Norway increased to 8251.70 USD Million in 2021 from 7269.90 USD Million in 2020. source: SIPRI. Higher yields, in tandem with strain on other financial indicators like the VIX and S&P 500 returns, could tilt conditions to become more hawkish looking ahead. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Mexico (Int. Most Recent Value (Millions) Help us improve this site Help / Feedback. United States: $20.89 trillion. New, Insights into the worlds most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development. Germany is also Europe's largest economy. Are you interested in testing our corporate solutions? GDP (PPP) US$ GDP (Nominal) US$ Gini HDI total (billions) per capita total (billions) per capita Denmark 325.556 56,412 362.150 62,041 . Accessed November 10, 2022. https://www.statista.com/statistics/1275207/gdp-growth-rate-nordics/, IMF. Explore Our DataBank. Statistics and historical data on GDP growth rate, per capita PPP, constant prices. The GDP value of Norway represents 0.37 percent of the world economy. Currently, you are using a shared account. Libya experienced the highest growth rate of 177.3%. There would be only no change in ppp ranking. Still, corporate bond spreads, key indicators in the Financial Conditions Index, could widen if interest rates and default concerns continue to rise. Profit from the additional features of your individual account. Below are the top 10 countries and GDP per capita (USD). As a Premium user you get access to the detailed source references and background information about this statistic. Thematic data tables from WDI. All Countries and Economies. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. Get full access to all features within our Corporate Solutions. Sweden and Norway are each set for expansion of 3.5% or more in 2021 and 2022, according to the Oct. 25-27 survey, as the gradual return to normal life is increasing in tandem with more people. DataBank. Credit spreads are the difference in bond yields (returns) of two different debt securities with the same maturity, but with different credit quality. Next year, Sweden, Norway and Denmark are now expected to. The red-hot manufacturing sector continues to support the economy, although it has been hampered by supply-chain disruptions. GDP per Capita by Country 2022 Show Sources GDP per Capita Loading. 1.9%. Data source: World Bank, Washington D.C. Click on any of the links to gain more in-depth reviews of these top countries. Two North American economies are in the list of top ten largest economies globally as it hosts Subscribe here to get every update, including when new charts or infographics go live: Visualizing the 200-Year History of U.S. Interest Rates, The Pyramid of Equity Returns: Almost 200 Years of U.S. Stock Performance, All S&P 500 Sectors and Industries, by Size, Black Swan Events: Short-term Crisis, Long-term Opportunity, Visualizing the Hierarchy of Financial Needs, The Psychological Pitfalls of a Market Cycle, Visualizing the History of U.S. Inflation Over 100 Years, Asset Class Risk and Return Over the Last Decade (2010-2019). First, the Chicago Feds Financial Conditions Index takes 105 weighted average indicators of financial activity and organizes them into three main categories. The United States and Canada, the world's largest and 9th largest economy. Three economies of North America would have gdp above $1 trillion, and four would have an economy of above $100 billion. Although Taiwan faces increased tensions with China, risk remains low due to strong institutions and a stable multiparty democracy. "Gross domestic product (GDP) per capita at current prices in the Nordic countries from 2010 to 2022, by country (in 1,000 U.S. Global GDP growth is now projected to be 5.6% this year, an upward revision of more than 1 percentage point from the December 2020 OECD Economic Outlook. Since the COVID-19 pandemic caused 2020 GDP growth to be negative in many countries, 2021 GDP growth is measured from a lower starting point. With these factors in mind, the chart below looks at the top 10 geopolitical risks looking ahead, according to risk consulting firm Kroll. Dollars: $50,801 25 Fourth among world economies is Germany. Here is the macroeconomic risk map in 2022. $1.8. This statistic is not included in your account. "Gross Domestic Product (Gdp) per Capita at Current Prices in The Nordic Countries from 2010 to 2022, by Country (in 1,000 U.S. Here we publish the nominal GDP, also called GDP at current prices, not adjusted for inflation. As soon as this statistic is updated, you will immediately be notified via e-mail. Sample Report Currencies' performances are a risk. Sweden and Norway are each set for expansion of 3.5% or more in 2021 and 2022, according to the Oct. 25-27 survey, as the gradual return to normal life is increasing in tandem with more people getting vaccinated. Chart. Given these factors, are conditions more hawkish or accommodative? American economy, United States, is in the top ten list, and three economies are within the top 50 world gdp ranking. Germany: $3.85 trillion. This page presents GDP forecast figures by country for the period from 2021 to 2025 as estimated by the IMF in its latest edition of World Economic Outlook (WEO) as of October 2020. Canada ($240 bn) and Mexico ($116 bn) are other top contributors. Citation Please cite this indicator as follows: OECD (2022), Real GDP forecast (indicator). GDP per capita is a country's gross domestic product divided by the country's total population. Whenever growth is shown over a time period, it is being compared to a base or starting value. Three economies are within the top 50 world gdp ranking. 2021: GDP Annual Growth Rate: 2.1 % 3Q/22: GDP Growth Rate: 0.2 . GDPR is now UK law, and they will remain as part of the law even when the UK is no longer in . Please create an employee account to be able to mark statistics as favorites. Given this complex picture, which countries and jurisdictions are at the highest risk as geopolitical tensions unfold? These factors include items like monetary policy, trade flows, and the political climate. The economic recovery was driven by one of the fastest COVID-19 vaccine rollouts in the world, which allowed the economy to almost fully reopen. Population figures based on United Nations data. 22 26 Germany is. For the correct comparison, values for individual countries in the . New, Insights into the worlds most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development. Gross domestic product (GDP) growth rate in the Nordics from 2012 to 2022 [Graph]. Broadly speaking, an increase in private-sector spending and employment helped drive this growth. By contrast, the early 1980s saw the worst financial conditions by far. The Danish economy has largely reverted to pre-pandemic levels, with economic growth exceeding 2019 levels amid soaring employment rates, prompting economists to forecast a moderate boom in coming years. You can find useful information about the Nordic Region and each of its countries here. Geography defines the history and culture of Nordic . Historically, tighter financial conditions have been linked to falling asset values and increasing risk premiums. The global economy faced numerous challenges in 2021. Overall, there was a decline in annual GDP over 2020, relative to 2019, as follows; Denmark (3.3%), Finland (2.8%), Norway (0.8%) and Sweden (2.8%). Recent price statistics are indicating a slowdown in property price development. Corporate solution including all features. Finland #2 in Green Living Rankings #5 out of 78 in 2021. "Piercing the Veil", International Monetary Fund, June 2018 [9] Another way to look at the state of financial conditions is through a dovish or hawkish lens. Angola will overtake Cte d'Ivoire and Tanzania to become the 9th largest economy. While this can be difficult to measure, some data points towards this shift. Some of the strongest growth was seen in countries with fully reopened economies, in-demand exports, and strong fiscal and monetary support. The ideal entry-level account for individual users. Still, Chinas aim to govern the country could intensify and become more explicit. contributors. Learn more about how Statista can support your business. Meanwhile U.S. economic growth was roughly on par with the global average at 5.7%. Recovering from the pandemic shutdown, almost all countries saw positive GDP growth in 2021. Additionally, the United Kingdom has faced growing market instability after bold tax-cut announcements which were later abandoned. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. (October 11, 2022). Out of 24 economies, gdp (nominal) of 21 would increase, and three economies would decrease in 2021 compared to 2020. $1 trillion in 2021 and eight would have an economy of above Int. Roughly a third of this debt falls within the lowest investment-grade level, BBB. The 7th richest African country in 2021 is Ethiopia, with a GDP of $93.97 billion. $1742 bn), The country moved toward ending its decade-long conflict, which resulted in a rebound of oil production and economic activity. $4 trillion, and the gap is increasing. Domestic demand will be sustained by solid household financial buffers and an improving labour market, while high capacity utilisation will help fuel capital spending outside the oil sector. Access to this and all other statistics on 80,000 topics from, Show sources information Despite often facing their own challenges, many countries continue to be deemed to have low macroeconomic risk. The eight major pass-through economiesthe Netherlands, Luxembourg, Hong Kong SAR, the British Virgin Islands, Bermuda, the Cayman Islands, Ireland, and Singaporehost more than 85 percent of the world's investment in special purpose entities, which are often set up for tax reasons. Tax Wedge Another potential risk is the trend towards deglobalization. Ireland experienced GDP growth of 13.5% in 2021, driven largely by record-high exports. cost of pacemaker battery replacement surgery norway gdp per capita ranking. India: $2.66 trillion. Norway's GDP was seen expanding 3.7% this year and in 2022, above the previous forecast for 3.5% growth this year and next. 1960 - 2021 GDP growth (annual %) . Over the past few years, world trade to GDP has stagnated after rising for several decades. This would lead to a rebound in real GDP growth, to 67% in 2021. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. This is seen in higher interest rates to control inflation, but typically at the expense of economic growth, spending, and employment. Sweden. If the base value is abnormally high or low, it can distort the growth figures. Korea. Thematic data tables from WDI. World Economics estimates Russia's GDP to be $5.54 trillion - 37% larger than . The top 20 list of the Richest Countries in Africa is drafted on the basis of a report given by the International Monetary Fund (IMF) and World Bank. (For other stories from the Reuters global long-term economic outlook polls package). You can only download this statistic as a Premium user. GDP growth (annual %) GDP (constant 2015 US$) . In the third quarter, real GDP increased 2.3 percent. Industry-specific and extensively researched technical data (partially from exclusive partnerships). Mapped: Economic Predictions for 2022 and Beyond, Visualizing Historical Oil Prices (1968-2022), Wall Street vs Main Street: The Stock Market is Not the Economy, Mapped: Global GDP Forecasts for 2021 and Beyond, Visualizing S&P Performance in 2020, By Sector, What Lies Ahead: 2021 Economic Projections and the Year in Review. This will mainly affect GDP growth in 2021, which we have revised downward to 2.7 per cent (from 4.2 per cent in Nordic Outlook, September 2020) after a GDP decline of 3.1 per cent this. This is the additional return an investor can expect to receive for holding a riskier asset compared to the return from a risk-free asset like a government bond. Fast forward 10 years later, and rising U.S. interest rates triggered the Mexican peso crisis in 1994. Please do not hesitate to contact me. In Quarter 1 (Jan to Mar) 2021, all four countries in the UK showed negative quarter-on-quarter growth in gross domestic product (GDP); England decreased by 0.6%, Scotland fell by 1.6%, Northern Ireland fell by 1.0% and Wales fell by 1.7%, following growths in Quarter 4 (Oct to Dec) 2020.
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