The real GDP of the G20 countries in the second quarter of 2020 fell by an unprecedented 6.9% during the calculation of the previous three months amid restrictions introduced to curb the spread of COVID-19, according to data from the Organization for Economic Cooperation and Development (OECD).

The decline was significantly higher than in the first quarter of 2009 when the economy contracted 1.6% at the peak of the global financial crisis.

In the first quarter of 2020, GDP of the G20 countries decreased by 3.5% compared to October-December last year.

In OECD countries, the economy contracted by an unprecedented 10.6% in April-June, after falling 1.9% in the previous three months

Among the G20 countries, China was the only country to record GDP growth in the second quarter. Its economy grew 11.5%, reflecting the earlier onset of the pandemic in the country and the subsequent recovery, the OECD said.

The most significant drop in GDP was noted in India - by 25.2%, followed by the UK, as its economy fell by 20.4%.

Besides, a significant decrease was recorded in Mexico (by 17.1%), South Africa (by 16.4%), France (by 13.8%), Italy (by 12.8%), Canada (by 11.5 %), Turkey (by 11%), Brazil (by 9.7%), Germany (also by 9.7%), USA (by 9.1%), Japan (by 7.9%), Australia (by 7%) and Indonesia (by 6.9%).

In South Korea and Russia, the decline in GDP was less significant - by 3.2% in both countries.

The economy of the European Union in the second quarter decreased by 11.4%, the eurozone - by 11.8%.

The fall in GDP in the G20 countries in the second quarter compared to the same period in 2019 was 9.1% after declining by 1.7% in the previous three months. The most significant decline was demonstrated by India (by 23.5%), while in China there was an increase (by 3.2%).

In the OECD, GDP contracted 11.7% on an annualized basis, after falling 0.9% in the first quarter.

Created in 1961, the OECD is one of the leading economic organizations in the world, which includes 37 of the most developed countries. Now it includes Australia, Austria, Belgium, the UK, Hungary, Germany, Greece, Denmark, Israel, Ireland, Iceland, Spain, Italy, Canada, Colombia, Latvia, Lithuania, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, USA, Turkey, Finland, France, Czech Republic, Chile, Switzerland, Sweden, Estonia, South Korea, and Japan. The OECD is headquartered in Paris.

The G20 includes Argentina, Australia, Brazil, the UK, Germany, India, Indonesia, Italy, Canada, China, Mexico, Russia, Saudi Arabia, USA, Turkey, France, South Africa, South Korea, Japan, and the European Union.