The world's 20 biggest industrialized countries saw their economies shrink in the first quarter amid lockdowns and reduced economic activity due to the coronavirus pandemic.

According to the Organization for Economic Cooperation and Development(OECD) on Thursday, gross domestic product(GDP) of the Group of 20(G20) major economies fell by three-point-four percent on-quarter.

The drop is the biggest since the OECD began compiling related data in 1998 and also higher than the one-point-five-percent decline recorded during the global financial crisis in 2009.

Data showed China's GDP plunged nine-point-eight percent, followed by that of France and Italy, each dropping five-point-three percent.

A forecast released by the United Nations Conference on Trade and Development(UNCTAD) said global trade could drastically decline by 27 percent in the second quarter of this year amid uncertainties from the pandemic.