Different estimations on Italy's GDP growth for 2020 have been published since the outbreak of the coronavirus pandemic. The most pessimistic forecasts estimated a contraction of the country's Gross Domestic Product of almost ** percent. The actual data, published during the Spring 2021, revealed that Italy's GDP decreased by *** percent over the course of 2020. An economic outlook published in ************* forecasted a slight growth for the upcoming year. However, the source could not take into account the COVID-19 pandemic.

For a wider overview on the economic impact of the coronavirus in Italy, please consult this report. For further global information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

The Gross Domestic Product (GDP) in the United States contracted 0.50 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

From the Summer of 2007 until the end of 2009 (at least), the world was gripped by a series of economic crises commonly known as the Global Financial Crisis (2007-2008) and the Great Recession (2008-2009). The financial crisis was triggered by the collapse of the U.S. housing market, which caused panic on Wall Street, the center of global finance in New York. Due to the outsized nature of the U.S. economy compared to other countries and particularly the centrality of U.S. finance for the world economy, the crisis spread quickly to other countries, affecting most regions across the globe. By 2009, global GDP growth was in negative territory, with international credit markets frozen, international trade contracting, and tens of millions of workers being made unemployed.

Global similarities, global differences

Since the 1980s, the world economy had entered a period of integration and globalization. This process particularly accelerated after the collapse of the Soviet Union ended the Cold War (1947-1991). This was the period of the 'Washington Consensus', whereby the U.S. and international institutions such as the World Bank and IMF promoted policies of economic liberalization across the globe. This increasing interdependence and openness to the global economy meant that when the crisis hit in 2007, many countries experienced the same issues. This is particularly evident in the synchronization of the recessions in the most advanced economies of the G7. Nevertheless, the aggregate global GDP number masks the important regional differences which occurred during the recession. While the more advanced economies of North America, Western Europe, and Japan were all hit hard, along with countries who are reliant on them for trade or finance, large emerging economies such as India and China bucked this trend. In particular, China's huge fiscal stimulus in 2008-2009 likely did much to prevent the global economy from sliding further into a depression. In 2009, while the United States' GDP sank to -2.6 percent, China's GDP, as reported by national authorities, was almost 10 percent.

The Gross Domestic Product (GDP) in the United States expanded 2 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - United States GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2020, global gross domestic product declined by 6.7 percent as a result of the coronavirus (COVID-19) pandemic outbreak. In Latin America, overall GDP loss amounted to 8.5 percent.

The Gross Domestic Product (GDP) in Palestine contracted 1 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides the latest reported value for - Palestine GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Libyan economy suffered from the impact of the coronavirus (COVID-19) pandemic. In 2020, the country's real Gross Domestic Product (GDP) declined dramatically by over ** percent. This was the sharpest GDP contraction in North Africa in that year. Nevertheless, projections made in December 2020 showed that the country's economy would recover in 2021 and 2022, with a positive growth of the GDP.

Worse decline than expected

According to previous estimates conducted by the same source, without the pandemic, the country’s GDP would have expanded by *** percent in 2020 and *** percent in 2021, respectively. Moreover, within the scenario that the pandemic continued until the end of 2020, the GDP growth was projected at minus **** percent. These calculations were made in *********. As displayed, projections have been subsequently updated, showing a significantly stronger impact of the coronavirus (COVID-19) crisis on the Libyan GDP, contrary to earlier estimates. This could be explained by the deteriorating health situation, with Libya being among the African countries with the highest number of confirmed cases since the beginning of the pandemic, as well as the impact of the outbreak on the country’s key sectors.

Economic impact of COVID-19

The coronavirus (COVID-19) spread rapidly in Libya and the health crisis impacted economic growth, already challenged by social and political instability and poor national security due to the Libyan conflict. Furthermore, the country’s economy is heavily reliant on oil, with oil rents accounting for over ** percent of the GDP in 2018. The global crisis due to COVID-19 determined a considerable fall in oil prices, undermining the profitability of the hydrocarbon sector. In 2020, oil exports from Libya fell dramatically by around ** percent compared to the previous year.

View economic output, reported as the nominal value of all new goods and services produced by labor and property located in the U.S.

The Gross Domestic Product (GDP) in Russia expanded 1.40 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - Russia GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

By 2022, Kenya’s Gross Domestic Product is forecast to increase by 4.7 percent. According to the source’s estimates, the country recorded economic growth of five percent in 2021, recovering from a 0.3 percent contraction in 2020, as an effect of the coronavirus pandemic. The rebound has been attributed to household income and job growth, as well as to the COVID-19 vaccination campaign. Roughly 30 percent of the adult population has been fully vaccinated against the disease in Kenya so far.

Recovery through key sectors

The strongest impact of the coronavirus crisis on the Kenyan economy was felt in the second quarter of 2020. By then, the country’s GDP decreased by 5.5 percent, the first negative growth in recent years. As of the third quarter of 2021, Kenya already registered an improved economic performance, with the quarterly GDP growth rate measured at 9.9 percent. The educational sector pushed the result, with an expansion of 65 percent. Mining and quarrying, and accommodation and food services followed, each with a 25 percent growth rate.

An optimistic economic forecast in East Africa

East Africa's economic growth might reach nearly five percent in 2022, according to estimates. This would represent a strong recovery from 2020, when the region’s economy expanded by only 0.4 percent, due to the COVID-19 pandemic. Cumulatively, more than 1.34 million people in East Africa have been infected by the disease. Although most of the countries in the region have already launched a vaccination campaign, the number of vaccine doses administered per 100 people is still low.

U.S. gdp growth rate for 2023 was 2.89%, a 0.38% increase from 2022.

<ul style='margin-top:20px;'>

<li>U.S. gdp growth rate for 2022 was <strong>2.51%</strong>, a <strong>3.54% decline</strong> from 2021.</li>
<li>U.S. gdp growth rate for 2021 was <strong>6.06%</strong>, a <strong>8.22% increase</strong> from 2020.</li>
<li>U.S. gdp growth rate for 2020 was <strong>-2.16%</strong>, a <strong>4.75% decline</strong> from 2019.</li>
</ul>Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

The Gross Domestic Product (GDP) in Italy was worth 2372.77 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Italy represents 2.23 percent of the world economy. This dataset provides the latest reported value for - Italy GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Recessions are periods of economic contraction having a significant impact on various industries. Typically, a recession is characterized by a significant decline in the gross domestic product (GDP) over a time period, leading to widespread unemployment, loss of income, and reduced business activity.

Here is a dataset of the monthly GDP of the United Kingdom from 2020 to 2022. Below are all the features in the dataset:

1- Time Period: Monthly time period 2- GDP Growth: The growth rate of GDP every month

The impact of the coronavirus (COVID-19) lockdown in India slashed GDP growth forecasts for financial year 2021. Among the agencies that estimated growth, World Bank predicted a contraction of nearly *** percent, while the SBI (before the Maharashtra lockdown in April 2021) estimated a decline of ***** percent.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

The Gross Domestic Product (GDP) in Germany expanded 0.40 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - Germany GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Both Spain and the members of the Organization for Economic Co-operation and Development (OECD) recorded a contraction of Gross Domestic Product (GDP) in 2020, followed by a remarkable high growth in the following year. The positive trend continued in 2023, with the Spanish economy growing *** percent, while the OECD members recorded a **** percent.

The Gross Domestic Product (GDP) in Puerto Rico expanded 2.10 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides - Puerto Rico GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Ukraine contracted 0.10 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides - Ukraine GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

President Trump's ten percent tariffs on imports from China, which went into effect on February 4, 2025, are projected to have negative effects on both the GDP of China and the U.S. However, the effect on China's GDP is expected to be stronger and result in a contraction by 0.16 percent in 2026 and 2027 compared to the baseline scenario. In contrast, the U.S. GDP is only projected to be 0.07 percent lower than in the baseline scenario in 2027. If China retaliates, the negative effects on both countries might be stronger.

The Gross Domestic Product (GDP) in Brazil expanded 1.40 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Brazil GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.