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World Economic Situation and Prospects as of mid-2025 Cover

World Economic Situation and Prospects as of mid-2025

The world economy is at a precarious moment. Heightened trade tensions, along with policy uncertainty, have significantly weakened the global economic outlook for 2025. Higher tariffs—resulting in a significant increase in the effective tariff rate in the United States of America—are likely to strain global supply chains, drive up production costs and delay critical investment decisions, while also contributing to financial market volatility. Global economic growth is now projected to slow to 2.4 per cent in 2025, down from 2.9 per cent in 2024, and 0.4 percentage points below the January forecast. The downward revisions in growth forecasts are broad-based, affecting both developed and…
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World Economic Situation and Prospects as of mid-2025

World Economic Situation and Prospects 2025

Global growth to remain subdued amid lingering uncertainty Lower inflation and monetary easing offer relief, but trade tensions, high debt burdens, and geopolitical risks cloud the outlook Despite falling inflation, improving labour market conditions, and monetary easing, global growth is projected to remain below the pace seen before the pandemic, and the world economy continues to face significant uncertainties. This continues to gravely impact progress towards the Sustainable Development Goals (SDGs), especially for many developing countries that are still suffering from the accumulated impacts of successive crises.   "Countries cannot ignore these perils. In our interconnected… Download

World Economic Situation and Prospects as of mid-2024

Near-term global economic outlook cautiously optimistic as vulnerabilities remain Full Report: English Key Messages: English Press Release: English GDP growth and inflation data: PDF, XLS GDP Growth Table: English SIDS Economic Outlook: English The global economic outlook has improved since January, with major economies avoiding a severe downturn. The world economy is now projected to grow by 2.7 per cent in 2024, instead of 2.4 per cent forecasted earlier, on the back of better-than-expected performance of the United States economy and some improvement in the outlook for several large emerging economies. The modest gain in the growth momentum is partly offset by the downward revisions of…
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World Economic Situation and Prospects 2024

Protracted period of low growth looms large, undermining progress on sustainable development The world economy continues to face multiple crises, jeopardizing progress towards the Sustainable Development Goals (SDGs). Although global economic growth outperformed expectations in 2023 with several large economies showing remarkable resilience, simmering geo-political tensions and the growing intensity and frequency of extreme weather events have increased underlying risks and vulnerabilities. Furthermore, tight financial conditions also pose increasing risks to global trade and industrial production.   "2024 must be the year when we break out of this quagmire. By unlocking big, bold… Download
World Economic Situation and Prospects as of mid-2023

World Economic Situation and Prospects as of mid-2023

  Amid multiple global crises, risk of prolonged period of low growth looms large Full Report: English Key Messages: English Press Release: English Prospects for a robust global economic recovery remain dim amid stubborn inflation, rising interest rates and heightened uncertainties. Instead, the world economy faces the risk of a prolonged period of low growth as the lingering effects of the COVID-19 pandemic, the ever-worsening impact of climate change and macroeconomic structural challenges remain unaddressed, according to the World Economic Situation and Prospects as of mid-2023 released today. According to the report, the world economy is now projected to grow by 2.3 per cent in… World Economic Situation and Prospects as of mid-2023

World Economic Situation and Prospects 2023

Multiple shocks to the world economy The world continues to confront multiple, inter-connected crises. Amid a slow recovery from the impact of the COVID-19 pandemic, the world is facing a food and energy crisis exacerbated by the war in Ukraine, with record high inflation unleashing a cost-of-living crisis. Developing countries are struggling over the costs of imports and debt servicing, and a climate crisis continues to wreak havoc on the most vulnerable countries and populations. "This is not the time for short-term thinking or knee-jerk fiscal austerity that exacerbates inequality, increases suffering and could put the SDGs farther out of reach." - Ant?nio Guterres
Secretary-General… World Economic Situation and Prospects 2023
World Economic Situation and Prospects as of mid-2022

World Economic Situation and Prospects as of mid-2022

Full Report: English Key Messages: English Press Release:?Русский, 中文, English, Français, Русский, Español Global growth prospects have weakened significantly amid the war in Ukraine, rising energy, food and commodity prices, soaring inflation and tightening monetary policy stances by major central banks. The world economy is projected to grow by 3.1 per cent in 2022, marking a downward revision of 0.9 percentage points from our previous forecast released in January 2022. The baseline forecast faces significant downside risks from further intensification of the war in Ukraine and potential new waves of the pandemic. Growth forecasts for the United States, European Union and China have been… World Economic Situation and Prospects as of mid-2022
World Economic Situation and Prospects 2022

World Economic Situation and Prospects 2022

UN warns global economic recovery is losing steam The global economic recovery is facing significant headwinds amid new waves of COVID-19 infections, persistent labour market challenges, lingering supply-chain challenges and rising inflationary pressures. After expanding by 5.5 per cent in 2021, the global output is projected to grow by only 4.0 per cent in 2022 and 3.5 per cent in 2023, according to the United Nations World Economic Situation and Prospects (WESP) 2022, which was launched today. The robust recovery in 2021 ? driven by strong consumer spending and some uptake in investment, with trade in goods surpassing pre-pandemic levels ? marked the highest growth rate in more than four… World Economic Situation and Prospects 2022
World Economic Situation and Prospects as of mid-2021

World Economic Situation and Prospects as of mid-2021

Economic recovery under threat amid surging COVID cases and lagging vaccination in poorer countries Widening inequality casts a shadow over projected 5.4% global growth in 2021 While the global growth outlook has improved, led by robust rebound in China and the United States, surging COVID-19 infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy, says the latest United Nations forecast released today. According to the World Economic Situation and Prospects (WESP) mid-2021 report, following a sharp contraction of 3.6 per cent in 2020, the global economy is now projected to expand by 5.4 per cent in 2021, reflecting an upward… World Economic Situation and Prospects as of mid-2021
World Economic Situation and Prospects 2021

World Economic Situation and Prospects 2021

A once-in-a-century crisis?a Great Disruption unleashed by the COVID-19 pandemic?hit the world economy in 2020. The pandemic reached every corner of the world, infecting more than 90 million and, so far, has killed close to 2 million people worldwide. Governments around the world responded rapidly?and boldly?to stem the health and economic contagion of the crisis. Fiscal and monetary stimulus packages were quickly rolled out to save the economy. The crisis responses, however, entailed difficult choices between saving lives and saving livelihoods, between speed of delivery and efficiency, and between short-term costs and long-term impacts. "We are facing the worst health and economic crisis… World Economic Situation and Prospects 2021