Gross domestic product (GDP) in the G20 area rose by 0.8% in the first quarter of 2025, slightly down from 0.9% in the previous quarter, according to provisional estimates.
However, the picture was mixed among G20 countries.
In Korea and the United States, GDP contracted, by respectively 0.2% and 0.1%, in Q1 2025, following growth of 0.1% and 0.6% in the previous quarter.
Growth slowed sharply in Türkiye and Japan, dropping from 1.7% to 1.0% and from 0.6% to 0.0%, respectively, while more moderate slowdowns were observed in China (from 1.6% to 1.2%), Australia (from 0.6% to 0.2%), South Africa (from 0.4% to 0.1%), and Indonesia (from 1.2% to 1.1%). Growth remained stable in Canada at 0.5%.
Conversely, the remaining G20 countries experienced higher growth in Q1 2025 compared to the previous quarter. Brazil recorded a substantial acceleration, with growth rising from 0.1% to 1.4%, while the United Kingdom saw a notable improvement, with GDP growth increasing from 0.1% to 0.7%.
Growth improved marginally in Saudi Arabia (from 0.9% to 1.1%), India (from 1.9% to 2.0%) and Italy (from 0.2% to 0.3%), while growth rebounded in Mexico (from -0.7% to 0.2%), Germany (from -0.2% to 0.4%), and France (from -0.1% to 0.1%).
Compared with the same quarter of the previous year, GDP in the G20 area was 3.4% higher in Q1 2025, the same growth as in the previous quarter. Among G20 economies, India recorded the highest year-on-year growth rate at 6.9%, followed by China (5.4%) and Indonesia (4.8%). Korea recorded the largest contraction at -0.3%.
