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  3. Publication Category » Taxonomy term » Name: Monthly Briefing on the World Economic Situation and Prospects
  4. Year: 2025

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Cover of World Economic Situation and Prospects: June 2025 Briefing, No. 190

World Economic Situation and Prospects: June 2025 Briefing, No. 190


Global macroeconomic outlook The global economic outlook as of mid-2025 has deteriorated notably, according to the latest World Economic Situation and Prospects (WESP) update. Global growth is now forecast 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 (figure 1) This downward revision primarily reflects heightened trade tensions and intensified policy uncertainty, which are expected to strain global supply chains, raise production costs, and delay critical investment decisions, besides fuelling financial market volatility (figure 2).  According to UN DESA estimates, the effective tariff rate of the United…
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World Economic Situation and Prospects: April 2025 Briefing, No. 189

Navigating through an inflationary world The current inflation landscape Inflation has once again become a central topic among academics, policymakers, and in the daily lives of citizens. For much of the past two decades, inflation remained relatively low and stable in most developed and developing economies, even as a few countries experienced high inflation amid economic and financial crises or macroeconomic mismanagement. Between 2000 and 2020, global inflation averaged 3.4 per cent, compared to 8.0 per cent in the 1980s and 7.1 per cent in the 1990s. Even in developing countries, where inflation is typically higher and more volatile, it followed a downward trend since the mid-1990s,…
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World Economic Situation and Prospects: March 2025 Briefing, No. 188

The outlook for international trade amid structural shifts and rising restrictions Trends and prospects for global trade The trajectory of world trade has been unsettled in recent years. Following the pandemic-induced contraction and subsequent recovery, merchandise trade volumes declined slightly in 2023, with only services trade contributing to modest overall growth. In contrast, 2024 saw a stronger rebound as world trade expanded by an estimated 3.4 per cent (United Nations, 2025). Merchandise trade growth gained momentum in late 2024, in part because importers accelerated inventory purchases ahead of potential trade restrictions (Zhang and others, 2025). With international trade once…
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World Economic Situation and Prospects: February 2025 Briefing, No. 187

Subdued global outlook amid persistent uncertainties Global economic growth stays below pre-pandemic trends The world economy has shown remarkable resilience, with global growth projected at 2.8 per cent in 2025, the same as in 2024, and 2.9 per cent in 2026. This stability has been underpinned by continued disinflation, softening commodity prices, and monetary easing in many countries. However, ongoing conflicts, geopolitical tensions and potential trade restrictions, as well as climate risks pose significant challenges going forward (figure 1). The global economy is set to grow at a slower pace than the pre-pandemic average of 3.2 per cent recorded between 2010 and 2019, reflecting…
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