Publication date:
Apr 30, 2025
IMF Data Brief: Quarterly Gross Domestic Product
April 16 – 29, 2025
World GDP Growth Slowed to 0.8 Percent in 2024Q4 Despite Strength in Asia
Quarterly GDP, World and Country Aggregates, Q4 2024
(Contributors: Richard Wild and Arushi Kapoor)
The IMF’s April 2025 World Economic Outlook forecasts annual economic growth to slow to 2.8 percent in 2025 (down from 3.3 percent in 2024). On a quarterly basis, growth in World GDP (real, seasonally adjusted) in the fourth quarter of 2024 decelerated to 0.8 percent quarter-on-quarter, from 0.9 percent in the previous quarter (revised up from 0.8 percent). The deceleration was most notable in the Americas, where growth slowed from 0.9 percent in the third quarter to 0.5 percent in the fourth quarter.
By economic classification, quarter-on-quarter real GDP growth in the Emerging Market and Developing Economies increased 1.2 percent in 2024Q4, similar to the 1.1 percent increase in 2024Q3. This group accounted for the majority of World GDP growth (0.7 percentage point). The Advanced Economies grew by 0.4 percent in 2024Q4, contributing 0.2 percentage point to overall growth.
Economy-wide prices, as measured by the World GDP deflator, grew by 0.6 percent in 2024Q4, up from the 0.2 percent increase in the previous quarter, though inflation has broadly trended downwards over the past two years. Price increases in Europe (1.0 percent) and Asia (0.3 percent) together contributed 0.4 percentage point to World price growth.
Notes: ¹Based on 19 country members; excludes European Union and African Union blocs.
World and country group aggregate current price estimates reflect aggregate reported current price country data adjusted to international dollar purchasing power parity (PPP) terms which are then benchmarked up to the last full calendar year (2024) to annual nominal GDP World and country group aggregate levels published in the IMF’s latest World Economic Outlook (WEO) release (April 2025). World and country group aggregate constant price estimates reflect weighted aggregates of reported constant price country data adjusted to PPP terms from which growth rates are then benchmarked to the annual constant price World and country group aggregate growth rates published in the latest WEO.
Multilateral Reports:
World Economic Outlook
World Economic Outlook was released on April 22, 2025. The release is a survey of prospects and policies by the IMF staff, usually published twice a year, with updates in between.
Fiscal Monitor
Fiscal Monitor was released on April 23, 2025. The release is prepared twice a year by the IMF’s Fiscal Affairs Department. Its projections are based on the same database used for the World Economic Outlook (WEO) and the Global Financial Stability Report (GFSR).
Regional Economic Outlook for Sub-Saharan Africa
Regional Economic Outlook for Sub-Saharan Africa was released on April 25, 2025. This report discusses recent economic developments and prospects for countries in the Sub-Saharan Africa region.
World Industrial Production Increased 0.1 Percent in January 2025
Production Indexes, World and Country Aggregates, January 2025
(Contributors: Anthony Silungwe and Abdulrahman Gweder)
World Industrial Production (IP) grew 0.1 percent month-on-month in January 2025, a deceleration from 0.7 percent in December 2024. This growth was driven by the Emerging Market and Developing Economies (EMDEs), which grew 0.2 percent, contributing 0.2 percentage point to the total IP growth. In contrast, the Advanced Economies dipped 0.2 percent, partially offsetting the positive contributions to growth by the EMDEs. Within EMDEs, growth occurred in Emerging and Developing Asia (0.2 percent), Sub-Saharan Africa (4.1 percent) and Middle East and Central Asia (1.5 percent). However, declines were recorded in Emerging and Developing Europe (1.8 percent) and Latin America and the Caribbean (0.1 percent).
On a year-on-year basis, World IP increased by 3.1 percent in January, driven by growth in both AEs and EMDEs.
Notes:
1. Seasonally adjusted World and Country Group Aggregate estimates are based on a sample of 118 economies that disseminate an Industrial Production (IP) index. These represents 95.5 percent of Global GDP at purchasing power parity (PPP).
2. Country Group Aggregates are based on WEO classification.
OTHER RELEASES
Balance of Payments and International Investment PositionCountry Data and Country Group Aggregates, Q4 2024
Balance of Payments and International Investment Position was released on April 23, 2025. The IMF tracks the quarterly Balance of Payments and International Investment Position across 190 countries with data starting from 1945. |
InflationCountry Data, January 2025
Inflation was released on April 28, 2025. The IMF tracks the official CPI data across 190 countries. |
Real Effective Exchange RatesCountry Data, March 2025
Real Effective Exchange Rates were released on April 28, 2025. The IMF tracks the monthly real effective exchange rates across 92 countries with data since 1948. |
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