Eight Countries Experienced Economic Contraction in the Second Quarter of 2022

Economics & Macro

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Viva Budy Kusnandar 25/10/2022 15:20 WIB

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Russia's invasion of Ukraine triggered a surge in international energy and food commodity prices, subsequently impacting economic slowdown in many countries.

8 Countries with Negative Economic Growth in Q2 2022

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Eight Countries Experienced Economic Contraction in the Second Quarter of 2022

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8 Countries with Negative Economic Growth in Q2 2022

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Russia's invasion of Ukraine triggered a surge in energy and food commodity prices internationally, subsequently impacting economic slowdown in many countries.

According to Trading Economics data, eight countries experienced negative economic growth in Q2 2022.

Macau experienced the deepest contraction, with its economy shrinking by 39.8% year-on-year (yoy) in Q2 2022. This figure is worse than the previous quarter's 8.9% (yoy) contraction.

The next country with the deepest economic contraction was Ukraine, at 37.2% (yoy) in Q2 2022, deeper than the previous quarter's 15.1% (yoy) contraction.

Sri Lanka had negative economic growth of 8.4% (yoy) in Q2 2022, deeper than the previous quarter's 1.6% (yoy) contraction.

Brunei Darussalam also experienced a contraction of 4.4% (yoy) in Q2 2022, deeper than the previous quarter's 4.2% (yoy) contraction.

Meanwhile, Russia experienced an economic contraction of 4.1% (yoy) in the second quarter of this year, while in the previous quarter it still recorded positive growth of 3.5% (yoy).

Following this, Paraguay experienced an economic contraction of 3.4% (yoy), Hong Kong 1.3% (yoy), and Moldova 0.9% (yoy) in the same period.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Eight Countries Experienced Economic Contraction in the Second Quarter of 2022

Eight Countries Experienced Economic Contraction in the Second Quarter of 2022

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Eight Countries Experienced Economic Contraction in the Second Quarter of 2022

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