While the coronavirus pandemic is still ongoing, most OECD economies have begun to recover from the effects of 2020. According to data compiled by The Economist , Ireland is the country with the highest GDP growth between the fourth quarter of 2019 and the third quarter of 2021. domestic product by 22.3 percent. While this result is impressive, it is the exception rather than the norm, as our chart shows.
Economic winners and losers from the pandemic
Ireland is followed by Chile with GDP growth of 10.4 percent.While countries ranked third through sixth show more modest growth of 2.1 to 3.5 percent. The European countries hardest hit by the virus, including the United Kingdom, Portugal, Spain and Italy, have still not recovered from the start of the pandemic, and their GDP is down 1.3 to 6.6 percent. While the United Kingdom, for example, seemed to be on its way to collective immunity after battling Delta, it now ranks second in the world when it comes to new infections with 157,758 cases of infection reported Jan. 3 due to the continuous spread of the highly contagious Omicron virus. Spain, the country with the highest GDP decline in the list of 23 OECD countries analyzed by The Economist, is currently in third place with 93,190 new cases, but still suffers from a lack of income from tourism. in the past two years.
While GDP alone can only give an indication of a country’s economic health, it is nevertheless a reliable indicator in its own right. To compile a more detailed ranking, the Economist analysts also collected data on changes in household income per person, public capital investment, stock prices and the ratio of public debt to GDP. In reviewing this expanded analysis, Denmark, Slovenia, and Sweden were the countries that have fared best in the pandemic so far, while Japan, the United Kingdom, and Spain ranked last.
Thanks for the article by Florian Zandt of statista.com