The world's economy is seen expanding 3.2% this year but to grow at a slower 2.7% in 2023, down from 2.9% earlier predicted, the IMF World Economic Outlook for October showed. The institution cited high inflation, tightening financial conditions, Russia’s invasion of Ukraine, and the lingering COVID-19 pandemic as main challenges while warning that "the worst is yet to come, and for many people, 2023 will feel like a recession". Also, the US, China, and the Euro Area are expected to continue to stall. On the price front, global inflation is forecasted to rise to 8.8% in 2022 but to decline to 6.5% in 2023 and to 4.1% by 2024.

Full Year GDP Growth in World averaged 3.47 percent from 1961 until 2021, reaching an all time high of 6.60 percent in 1964 and a record low of -3.30 percent in 2020. This page includes a chart with historical data for World Full Year GDP Growth. World Full Year GDP Growth - values, historical data and charts - was last updated on January of 2023.

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World Full Year GDP Growth

Related Last Previous Unit Reference
Full Year GDP Growth 7.00 8.70 percent Mar 2023
Full Year GDP Growth 3.00 8.10 percent Dec 2022
Full Year GDP Growth 2.10 5.90 percent Dec 2022
Full Year GDP Growth 7.40 -11.00 percent Dec 2021
Full Year GDP Growth 1.70 -4.50 percent Dec 2021
Full Year GDP Growth 5.30 -6.40 percent Dec 2021