World GDP Growth Slowed in 2025Q1 While Economy-wide Prices Increased

Quarterly GDP, World and Country Aggregates, 2025Q1

(Contributors: Richard Wild and Arushi Kapoor)

World GDP (real, seasonally adjusted) grew by 0.7 percent quarter-on-quarter in 2025Q1 following growth of 1.0 percent in the previous quarter (revised up from 0.9 percent), with slowdowns in all major geographic regions. The rate was close to the pre-pandemic average (from 2012Q1) of 0.8 percent.

Asia continued to provide the main impetus, increasing by 1.1 percent and contributing 0.6 percentage points to global growth, even as it decelerated somewhat from the very robust 2024Q4 growth. Europe also saw more muted gains (0.5 percent) than in the previous quarter, contributing 0.1 percentage points to World growth. Expansion in the Americas slowed to 0.2 percent with the region making only a marginal contribution to overall growth. Africa grew by 0.7 percent, while in Oceania, GDP grew by 0.3 percent, with each region also making marginal positive contributions.

 

By economic classification, quarter-on-quarter real GDP growth in Emerging Market and Developing Economies increased 1.1 percent in 2025Q1, down from 1.3 percent in 2024Q4. This group accounted for the majority of World GDP growth (0.7 percentage points). Growth in Advanced Economies slowed to 0.2 percent in 2025Q1, versus 0.5 percent in 2024Q4, and contributed 0.1 percentage points to overall growth. 

Economy-wide prices, as measured by the World GDP deflator, grew by 1.9 percent in 2025Q1, the fastest increase since 2022Q2. This was a sharp uptick on the 0.6 percent increase seen in the previous quarter and well above the pre-pandemic average of 0.5 percent. Prices increased in all regions, but most markedly in Asia, Europe and the Americas.

 

Notes: ¹Numbers may not add up due to rounding. ²Based on 19 country members; excludes the European Union and African Union blocs.

World and country aggregate current price estimates reflect aggregate reported current price country data adjusting 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 aggregate levels published in the IMF’s latest World Economic Outlook (WEO) release (April 2025). World and country 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 aggregate growth rates published in the latest WEO. 

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