OECD area posts 5.5% GDP growth in 2021

Annual GDP growth rate for 2021 was 5.1% in EU, eurozone, G7 countries

By Gokhan Ergocun

ISTANBUL (AA) - The Organization for Economic Co-Operation and Development (OECD) area posted a gross domestic product (GDP) growth rate of 5.5% year-on-year in 2021, according to the latest data released on Monday.

The growth rate was minus 4.6% in 2020, while it was 4.9% in the last quarter of 2021, the organization's data showed.

The annual rate for 2021 was 5.1% in the EU, eurozone, and G7 countries.

Among G7 countries, the highest rate was posted by the UK with 7.5%, followed by France (7%) and Italy (6.4%) year-on-year in 2021.

The US posted 5.7%, Canada 4.7%, Germany 2.8% and Japan 1.7%.

In the fourth quarter of 2021, the EU economy expanded by 4.8%, while the rate was 4.6% in eurozone and 4.5% among G7 countries.

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