About this work
The December 2025 outlook projects global growth near 3.1 percent in 2026, sustained by shifts in activity across advanced and emerging economies. Nonresident capital flows ease from their peak but remain near $1.13 trillion. China’s savings, rising resident outflows and changing commodity balances reshape where capital moves. This edition also expands country coverage from 26 to 37.
Cite this work
Marcello Estevão, Jonathan Fortun (2025). Capital Flows Report: Global Stability Through Internal Rotation. Institute of International Finance.