By Gokhan Ergocun
ISTANBUL (AA) - The gross domestic product (GDP) growth rate in the G20 area was at 0.8% quarter-on-quarter in the first quarter of 2025, down from 0.9% in the previous quarter, the Organization for Economic Cooperation and Development announced on Wednesday.
In South Korea and the United States, GDP contracted by 0.2% and 0.1% respectively this January to March 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% and from 0.6% to 0%, respectively, while more moderate slowdowns were observed in China (1.6% to 1.2%), Australia (0.6% to 0.2%), South Africa (0.4% to 0.1%), and Indonesia (1.2% to 1.1%).
Growth remained stable in Canada at 0.5%.
The remaining G20 countries experienced higher growth in Q1 2025 compared to the previous quarter.
Brazil saw a substantial acceleration, with growth rising from 0.1% to 1.4%, while the UK saw notable improvement, with GDP growth up from 0.1% to 0.7%.
Growth improved marginally in Saudi Arabia (0.9% to 1.1%), India (1.9% to 2%) and Italy (0.2% to 0.3%), while growth rebounded in Mexico (minus 0.7% to 0.2%), Germany (minus 0.2% to 0.4%), and France (minus 0.1% to 0.1%).
Year-on-year in the first quarter, GDP expanded by 3.4% in the G20 area, unchanged from the previous quarter.