The economy fell less than 10% in 2020 due to the pandemic

Due to the pandemic’s effect, the country’s Gross Domestic Product (GDP) contracted by 9.9% in 2020. During the past year, declines in all components of aggregate demand; fell of exports by 17.7%, private consumption drop by 13.1%, investment fell by 13%, and public consumption decrease by 4.7%; resulted in the fall in GDP. In the last quarter, the economy grew 4.5% concerning the previous quarter.

Source: Ámbito