Publications | Economic Analysis and Policy Division

Displaying 1 - 10 of 27

09 January 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

04 December 2023

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

25 January 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

13 January 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

25 January 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

16 January 2020

World Economic Situation and Prospects 2020

Energy transition and the global economy The global economy has suffered a significant slowdown amid prolonged trade disputes and wide-ranging policy uncertainties. While a slight uptick in economic activity is forecast for 2020, the World Economic Situation and Prospects 2020 warns that economic risks remain strongly tilted to the downside, aggravated by deepening political polarization and increasing scepticism over the benefits of multilateralism. These risks could inflict severe and long-lasting damage on development prospects. They also threaten to encourage a further rise in inward-looking policies, at a point when global cooperation is paramount. "To live in shared prosperity within… World Economic Situation and Prospects 2020

21 January 2019

World Economic Situation and Prospects 2019

Global growth is expected to remain at 3.0 per cent in 2019 and 2020, however, the steady pace of expansion in the global economy masks an increase in downside risks that could potentially exacerbate development challenges in many parts of the world, according to the World Economic Situation and Prospects 2019.? The global economy is facing a confluence of risks, which could severely disrupt economic activity and inflict significant damage on longer-term development prospects. These risks include an escalation of trade disputes, an abrupt tightening of global financial conditions, and intensifying climate risks. ?While global economic indicators remain largely favourable, they do not tell…

11 December 2017

World Economic Situation and Prospects 2018

The world economy has strengthened as lingering fragilities related to the global financial crisis subside. In 2017, global economic growth reached 3 per cent?the highest growth rate since 2011?and growth is expected to remain steady for the coming year.? The improved global economic situation provides an opportunity for countries to focus policy towards longer-term issues such as low carbon economic growth, reducing inequalities, economic diversification and eliminating deep-rooted barriers that hinder development. ?As the World Economic Situation and Prospects 2018 demonstrates, current macroeconomic conditions offer policymakers greater scope to address some of the deep-rooted systemic… World Economic Situation and Prospects 2018

18 January 2017

World Economic Situation and Prospects 2017

Marking 70 years of publication, UN/DESA's flagship report on the state of the global economy, the World Economic Situation and Prospects 2017, was launched today in New York by Assistant-Secretary-General for Economic Development, Lenni Montiel, and Senior Economic Affairs Officer, Dawn Holland. The report states that world gross product is forecast to expand by 2.7 per cent in 2017 and 2.9 per cent in 2018, with this modest recovery more an indication of economic stabilization than a signal of a robust and sustained revival of global demand.? Regional launches will take place in Addis Ababa, Bangkok, Beirut, Geneva, Johannesburg, Mexico City, Moscow and New Delhi throughout the week. In… World Economic Situation and Prospects 2017

20 January 2016

World Economic Situation and Prospects 2016: Global Economic Outlook

The world economy stumbled in 2015 and only a modest improvement is projected for 2016/17 as a number of cyclical and structural headwinds persist. Global growth is estimated at a mere 2.4 per cent in 2015, marking a downward revision by 0.4 percentage points from the UN forecasts presented six months ago. Amid lower commodity prices, large capital outflows and increased financial market volatility, growth in developing and transition economies has slowed to its weakest pace since the global financial crisis of 2008/2009. Given the much anticipated slowdown in China and persistently weak economic performances in other large emerging economies, notably the Russian Federation and Brazil, the… World Economic Situation and Prospects 2016: Global Economic Outlook