G20 GDP growth slows to 0.8% in the first quarter of 2025

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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 (Figure 1). 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 China¹ (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 (Table 2). 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%.

Note: 

1. China’s nominal GDP represented 24.2% of G20 GDP in 2023, that of the United States 19.1%, and that of India 10.0%. The shares of other G20 countries can be found in the Annex table 1 in the methodological notes.

• Methodological Notes: Compilation of G20 Quarterly Economic Growth   (PDF) 

• Next release: 15 September 2025
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