TEMPO.CO, Jakarta - While some countries experienced slower economic growth in the first quarter of 2025, others are projected to see their economies expand rapidly throughout the remainder of the year.
Indonesia is among the nations that experienced a deceleration in economic growth. The Indonesian Central Statistics Agency (BPS) reported that Indonesia's economy grew by less than 5 percent in the first quarter of 2025. Specifically, during the first three months of the year, Indonesia's economic growth was 4.87 percent, a decrease from the 5.02 percent growth recorded in the previous quarter.
In addition to Indonesia, Japan's economic growth is facing pressure due to subdued consumer spending. Reports from Macenews anticipate that Japan's economy may have contracted for the first time in four quarters during January-March 2025, with an estimated decline of 0.1% quarter-on-quarter or 0.4% on an annualized basis. This follows a robust growth of 0.6% (2.2% annualized) in the October-December quarter, which was largely driven by a technical recovery in net exports resulting from a sharper-than-expected fall in imports. However, sluggish domestic consumption and high living costs are now weighing on the Japanese economy.
The United States has also experienced a similar trend. The U.S. economy saw a 0.3 percent decline in growth in the first quarter of 2025 compared to the same period in the previous year. In the fourth quarter of 2024, the U.S. economy had grown by 2.4%. The slowdown in U.S. economic growth is partly attributed to the aggressive tariff policies implemented by President Donald Trump.
Meanwhile, several countries are predicted to achieve higher economic growth rates in 2025. The International Monetary Fund (IMF) forecasts the highest growth rates for countries primarily located in Africa and Asia. Furthermore, the top-ranked economies are closely linked to the oil sector, meaning that fluctuations in oil production can have a substantial impact on their Gross Domestic Product (GDP).
South Sudan and Guyana, projected to have the highest and second-highest economic growth, respectively, are both oil-producing nations.
South Sudan has been seeking alternative routes for its oil exports and has secured cash advances from Qatar and the United Arab Emirates to navigate the ongoing civil war that has persisted for several years.
Guyana, a South American country previously classified as poor, discovered a large oil deposit in May 2015. Since commencing oil production in December 2019, it has generated one billion US dollars for Guyana, with projections estimating this figure to reach 157 billion US dollars by 2040, thus leading to expectations of even higher economic growth.
The following are the top 20 countries with real Gross Domestic Product (GDP) growth projections for 2025, as reported by Visual Capitalist based on IMF projections:
Here are the top 20 countries with real Gross Domestic Product (GDP) growth projections as reported by Visual Capitalist's webpage with IMF projections:
South Sudan (27.2 percent)
Guyana (14.4 percent)
Libya (13.7 percent)
Senegal (9.3 percent)
Palau (8.5 percent)
Sudan (8.3 percent)
Uganda (7.5 percent)
Nigeria (7.3 percent)
Macau (7.3 percent)
Bhutan (7.2 percent)
Mongolia (7 percent)
Zambia (6,6 percent)
Benin (6,5 percent)
Ethiopia (6,5 percent)
Rwanda (6,5 percent)
India (6,5 percent)
Ivory Coast (6,4 percent)
Philippines (6,1 percent)
Vietnam (6,1 percent)
Djibouti (6 percent)
Anastasya Lavenia Y and Ilona Estherina contributed to this article.
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