GDP growth in the G20 area slowed to 0.7% in the fourth quarter of 2025, according to provisional estimates, down from 0.9% in the previous quarter.
Corrigendum: In this G20 GDP release published on 16 March 2026, the annual growth figures for Germany and Italy in 2025 were inadvertently reversed in the final paragraph. The sentence originally read: “while Italy (0.2%) and Germany (0.5%) recorded the lowest growth rates."
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GDP (Gross Domestic Product) growth in the G20 area slowed to 0.7% in the fourth quarter of 2025, according to provisional estimates, down from 0.9% in the previous quarter (Figure 1). Canada and Korea recorded contractions of 0.2% in Q4, following growth of 0.6% and 1.3%, respectively, in Q3. In the United States1, growth decelerated, from 1.1% in Q3 to 0.2% in Q4, partly reflecting the impact of the government shutdown in the last quarter of the year. Growth also slowed in Türkiye (from 1.0% to 0.4%), and more marginally in France (0.5% to 0.2%) and India (2.1% to 1.8%).
By contrast, several G20 countries experienced stronger or steady growth in Q4 compared with Q3 2025. Growth increased sharply in Japan (from -0.7% to 0.3%) and in Mexico (from 0.1% to 0.9%). More moderate accelerations were observed in Australia (0.5% to 0.8%), Brazil (0.0% to 0.1%), China (1.1% to 1.2%), Germany (0.0% to 0.3%), Italy (0.2% to 0.3%), Saudi Arabia (1.2% to 1.4%) and South Africa (0.3% to 0.4%). Growth was unchanged in Indonesia (at 1.3%) and the United Kingdom (at 0.1%).
Compared with the same quarter of the previous year, GDP in the G20 area was 3.2% higher in Q4 2025 (Table 2). Among G20 economies with available data, India recorded the highest year-on-year growth rate at 7.6%, while Germany recorded the lowest at 0.4%.
Initial annual estimates2 indicate that G20 GDP growth slightly increased to 3.4% in 2025, compared with 3.2% in 2024 (Figure 2). Among the G20 countries for which data was available, India recorded the highest annual growth (7.5%), followed by Indonesia (5.1%) and China (5.0%), while Italy (0.5%) and Germany (0.2%) recorded the lowest. Growth in the OECD3 area remained stable at 1.8% in 2025.
Notes:
- The United States’ nominal GDP represented 19.3% of G20 GDP in 2024 (see Annex table 1 in the methodological note).
- Further information on how annual growth estimates are calculated can be found in the methodological note accompanying the G20 GDP growth release.
- After delayed publication of US data due to the government shutdown, the OECD aggregate includes again the United States for the entire time series.
Methodology
Release dates
- Next release: 15 June 2026
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