List Of 40 Countries Experiencing A Recession In 2020

The nation recorded a contraction of 3.62 percent in the third quarter of 2020. The development was blamed on the coronavirus pandemic and the crash in the global oil price.

However, Nigeria is not the only country that has slipped into recession, according to a report by The Cable.

The newspaper, citing data from S&P, reported that only China, Chile, and Sweden did not report a recession among the 34 economies in the world with a GDP of more than $200 billion.

The 40 countries listed below are those currently experiencing a recession, according to The Cable.

  1. United States
  2. Japan
  3. United Kingdom
  4. India
  5. Brazil
  6. Russia
  7. South Africa
  8. Austria
  9. Germany
  10. Switzerland
  11. Belgium
  12. Canada
  13. Denmark
  14. Estonia
  15. Finland
  16. Hungary
  17. Ireland
  18. Italy
  19. Latvia
  20. Lithuania
  21. Mexico
  22. Netherlands
  23. Norway
  24. Romania
  25. Spain
  26. Nigeria
  27. Peru
  28. Turkey
  29. Israel
  30. Poland
  31. Czech Republic
  32. Thailand
  33. Singapore
  34. Malaysia
  35. South Korea
  36. Australia
  37. Portugal
  38. France
  39. Indonesia
  40. Hong Kong
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