In 2024, the U.S. GDP increased from the previous year to about 29.18 trillion U.S. dollars. Gross domestic product (GDP) refers to the market value of all goods and services produced within a country. In 2024, the United States has the largest economy in the world. What is GDP? Gross domestic product is one of the most important indicators used to analyze the health of an economy. GDP is defined by the BEA as the market value of goods and services produced by labor and property in the United States, regardless of nationality. It is the primary measure of U.S. production. The OECD defines GDP as an aggregate measure of production equal to the sum of the gross values added of all resident, institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs). GDP and national debt Although the United States had the highest Gross Domestic Product (GDP) in the world in 2022, this does not tell us much about the quality of life in any given country. GDP per capita at purchasing power parity (PPP) is an economic measurement that is thought to be a better method for comparing living standards across countries because it accounts for domestic inflation and variations in the cost of living. While the United States might have the largest economy, the country that ranked highest in terms of GDP at PPP was Luxembourg, amounting to around 141,333 international dollars per capita. Singapore, Ireland, and Qatar also ranked highly on the GDP PPP list, and the United States ranked 9th in 2022.

In 1938, the year before the Second World War, the United States had, by far, the largest economy in the world in terms of gross domestic product (GDP). The five Allied Great Powers that emerged victorious from the war, along with the three Axis Tripartite Pact countries that were ultimately defeated made up the eight largest independent economies in 1938.

When values are converted into 1990 international dollars, the U.S. GDP was over 800 billion dollars in 1938, which was more than double that of the second largest economy, the Soviet Union. Even the combined economies of the UK, its dominions, and colonies had a value of just over 680 billion 1990 dollars, showing that the United States had established itself as the world's leading economy during the interwar period (despite the Great Depression).

Interestingly, the British and Dutch colonies had larger combined GDPs than their respective metropoles, which was a key motivator for the Japanese invasion of these territories in East Asia during the war. Trade with neutral and non-belligerent countries also contributed greatly to the economic development of Allied and Axis powers throughout the war; for example, natural resources from Latin America were essential to the American war effort, while German manufacturing was often dependent on Swedish iron supplies.

Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. This dataset contains the GDP based on Purchasing Power Parity (PPP).

GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing a nation's domestic market because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates which may distort the real differences in per capita income

Acknowledgement

Thanks to World Databank

In 2023 the real gross domestic product (GDP) of the United States increased by 2.5 percent compared to 2022. This rate of annual growth indicates a return to economy normalcy after 2020 saw a dramatic decline in the GDP growth rate due to the the coronavirus (COVID-19) pandemic, and high growth in 2021.

What does GDP growth mean?

Essentially, the annual GDP of the U.S. is the monetary value of all goods and services produced within the country over a given year. On the surface, an increase in GDP therefore means that more goods and services have been produced between one period than another. In the case of annualized GDP, it is compared to the previous year. In 2023, for example, the U.S. GDP grew 2.5 percent compared to 2022.

Countries with highest GDP growth rate

Although the United States has by far the largest GDP of any country, it does not have the highest GDP growth, nor the highest GDP at purchasing power parity. In 2021, Libya had the highest growth in GDP, growing more than 177 percent compared to 2020. Furthermore, Luxembourg had the highest GDP per capita at purchasing power parity, a better measure of living standards than nominal or real GDP.

The Country-Level GDP and Downscaled Projections Based on the Special Report on Emissions Scenarios (SRES) A1, A2, B1, and B2 marker scenarios, 1990-2100, were developed using the 1990 base year GDP (Gross Domestic Product) from national accounts database available from the UN Statistics Division. SRES regional GDP growth rates were calculated from 1990 to 2100 based on the SRES marker model regional data and applied uniformly to each country that fell within the SRES-defined regions. This data set is produced and distributed by the Columbia University Center for International Earth Science Information Network (CIESIN).

The statistic shows global gross domestic product (GDP) from 1985 to 2024, with projections up until 2030. In 2020, global GDP amounted to about 85.76 trillion U.S. dollars, two and a half trillion lower than in 2019. Gross domestic product Gross domestic product, also known as GDP, is the accumulated value of all finished goods and services produced in a country, often measured annually. GDP is significant in determining the economic health, growth and productivity in the country, and is a stat often used when comparing several countries at a time, most likely in order to determine which country has seen the most progress. Until 2020, Global GDP had experienced a growth every year since 2010. However, a strong growth rate does not necessarily lead to all positive outcomes and often has a negative effect on inflation rates. A severe growth in GDP leads to lower unemployment, however lower unemployment often leads to higher inflation rates due to demand increasing at a much higher rate than supply and as a result prices rise accordingly. In terms of unemployment, growth had been fairly stagnant since the economic downturn of 2007-2009, but it remains to be seen what the total impact of the coronavirus pandemic will be on total employment.

The Global 15x15 Minute Grids of the Downscaled GDP Based on the Special Report on Emissions Scenarios (SRES) B2 Scenario, 1990 and 2025, are geospatial distributions of Gross Domestic Product (GDP) per Unit area (GDP densities). These global grids were generated using the Country-level GDP and Downscaled Projections Based on the SRES B2 Scenario, 1990-2100 data set, and CIESIN's Gridded Population of World, Version 2 (GPWv2) data set as the base map. First, the GDP per capita was developed at a country-level for 1990 and 2025. Then the gridded GDP was developed within each country by applying the GDP per capita to each grid cell of the GPW, under the assumption that the GDP per capita was uniform within a country. This data set is produced and distributed by the Columbia University Center for International Earth Science Information Network (CIESIN).

The average for 2024 based on 177 countries was 27291 U.S. dollars. The highest value was in Singapore: 132570 U.S. dollars and the lowest value was in Burundi: 836 U.S. dollars. The indicator is available from 1990 to 2024. Below is a chart for all countries where data are available.

View economic output, reported as the nominal value of all new goods and services produced by labor and property located in the U.S.

The average for 2024 based on 18 countries was 40607 U.S. dollars. The highest value was in the USA: 75492 U.S. dollars and the lowest value was in India: 9817 U.S. dollars. The indicator is available from 1990 to 2024. Below is a chart for all countries where data are available.

The Gross Domestic Product (GDP) in Georgia was worth 33.78 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Georgia represents 0.03 percent of the world economy. This dataset provides the latest reported value for - Georgia GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, the United States had a real gross domestic product of about 23.3 trillion U.S. dollars (2017 chained). See the U.S. GDP for further information. Real Gross Domestic Product is an inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Real GDP in the U.S. The real GDP of the U.S. has increased from 9.37 trillion U.S. dollars (2012 chained) in 1990 to 22 trillion U.S. dollars in 2023. Like many of the worlds major economies, the United States has experienced a steady growth in GDP over the last few years. The Indian economy was expected to experienced growth of 9.4 percent between 2020 and 2021, while China’s GDP was expected to grow 8.1 percent in the same period. One of the defining qualities of the United States’ economy is its diversity and advanced technological advancements. Industries such as finance, real estate, health care, and business and education services are large contributors to the economy, while the manufacturing sector accounts for about 11 percent of the country’s wealth. The GDP generated by each state can also vary widely based on principal industries and production. In 2021, California had the highest state GDP in the United States, reaching 3.35 trillion U.S. dollars; comparatively, Vermont generated a GDP of 36.17 billion U.S. dollars in that year.

The average for 2024 based on 58 countries was 58042 U.S. dollars. The highest value was in Singapore: 132570 U.S. dollars and the lowest value was in Barbados: 19946 U.S. dollars. The indicator is available from 1990 to 2024. Below is a chart for all countries where data are available.

Version history:This data are a new version of Geiger et al (2017, http:doi.org/10.5880/PIK.2017.003). Please use this updated version of this dataset which contains the following correction of errors in the original dataset: The linear interpolation in GDP per capita for Aruba (ABW) between observations in 2005 and SSP2 projections in 2010 was replaced by observed GDP per capita values for the years 2006-2009, as the SSP2 projection for Aruba turned out to be incorrect. As a result of this, the national GDP per capita and GDP timeseries for Aruba between 2006 and 2009 is different from the previous version. We here provide three different economic time series that amend or combine various existing time series for Gross Domestic Product (GDP), GDP per capita, and population to create consistent and continuous economic time series between 1850 and 2009 for up to 195 countries. All data, including the data description are included in a zip folder (2018-010_GDP_1850-2009_Data_v2.zip): (1) A continuous table of global income data (in 1990 Geary-Khamis $) based on the Maddison Project data base (MPD) for 160 individual countries and 3 groups of countries from 1850-2010: Maddison_Project_data_completed_1850-2010.csv. (2) A continuous table of global income data (in 2005 PPP $, PPP = purchasing power parity) for 195 countries based on a merged and harmonized dataset between MPD and Penn World Tables (PWT, version v8.1) from 1850-2009, and additionally extended using PWT v9.0 and World Development Indicators (WDI), that is consistent with future GDP per capita projections from the Shared Socioeconomic Pathways (SSPs): GDP-per-capita-national_PPP2005_SSP-harmonized_1850-2009_v2.csv. (3) A continuous table of global GDP data (in 2005 PPP $) for 195 countries from 1850-2009 based on the second income data set multiplied by country population data, again consistent with future SSP GDP projections: GDP-national_PPP2005_SSP-harmonized_1850-2009_v2.csv. These data are supplemented by a masking table indicating MPD original data and amended data based on current country definitions (Maddison_data_availability_masked_1850-2010.csv) and a file with PPP conversion factors used in this study (PPP_conversion_factors_PPP1990-PPP2005.csv). We use various interpolation and extrapolation methods to handle missing data and discuss the advantages and limitations of our methodology. Despite known shortcomings this data set aims to provide valuable input, e.g., for climate impact research in order to consistently analyze economic impacts from pre-industrial times to the distant future. More information about data sources and data format description is given in the data description file (2018-010_Data-Description-GDP_1850-2009_v2.pdf).

Graph and download economic data for Central government debt, total (% of GDP) for High Income Countries (GCDODTOTLGDZSHIC) from 1990 to 2022 about debt, government, income, and GDP.

Historical dataset showing Russia gdp growth rate by year from 1990 to 2023.

Historical dataset showing Poland GDP by year from 1990 to 2023.

Historical dataset showing Slovenia GDP by year from 1990 to 2023.

Graph and download economic data for Cash surplus/deficit (% of GDP) for High Income OECD Countries (GCBALCASHGDZSOEC) from 1990 to 2013 about OECD Economies, cash, budget, income, and GDP.

Administrative unitsRepresents the administrative units used for GDP per capita (PPP) and HDI data products. National administrative units have id 1-999, sub-national ones 1001-admin_areas_GDP_HDI.ncGDP_per_capita_PPP_1990_2015The GDP per capita (PPP) dataset represents average gross domestic production per capita in a given administrative area unit. GDP is given in 2011 international US dollars. Gap-filled sub-national data were used, supplemented by national data where necessary. Datagaps were filled by using national temporal pattern. Dataset has global extent at 5 arc-min resolution for the 26-year period of 1990-2015. Detail description is given in a linked article and metadata is provided as an attribute in the NetCDF file itself.GDP_PPP_1990_2015_5arcminThis global dataset represents the gross domestic production (GDP) of each grid cell. GDP is given in 2011 international US dollars. The data is derived from GDP per capita (PPP) which is multiplied by gridded population data HYDE 3.2 (the years of population data not available (1991-1999) were linearly interpolated at grid scale based on data from years 1990 and 2000). Dataset has global extent at 5 arc-min resolution for the 26-year period of 1990-2015. Detail description is given in a linked article and metadata is provided as an attribute in the NetCDF file itself.HDI_1990_2015HDI is a composite index of average achievement in key dimensions of human development (dimensionless indicator between 0 and 1). This index is based on method introduced 2010 and updated 2011. The subnational data for HDI were collected from multiple national-level datasets, and national-level HDI was collected from UNDP. Years with missing data were interpolated over time thin plate spines, assuming smooth trend over time. The dataset has a global extent at 5 arc-min resolution, and the annual data is available for each year over 1990-2015. HDI sub-national data covers 39 countries and 66% of global population in 2015.pedigree_GDP_per_capita_PPP_1990_2015This is the source data for GDP per capita (PPP), published as an indication of accuracy and precision. Reports the scale (national, sub-national) and type (reported, interpolated, extrapolated) of each year of data. Detail description is given in a linked article and metadata is provided as an attribute in the NetCDF file itself.pedigree_HDI_1990_2015This is the source data for Human Development Index (HDI), published as an indication of accuracy and precision. Reports the scale (national, sub-national) and type (reported, interpolated, extrapolated) of each year of data. Detail description is given in a linked article and metadata is provided as an attribute in the NetCDF file itself. Detail description is given in a linked article and metadata is provided as an attribute in the NetCDF file itself.GDP_PPP_30arcsecThe GDP (PPP) data represents average gross domestic production of each grid cell. GDP is given in 2011 international US dollars. The data is derived from GDP per capita (PPP), which is multiplied by gridded population data from Global Human Settlement (GHS). Dataset has a global extent at 30 arc-second resolution for three time steps: 1990, 2000, and 2015. Detail description is given in a linked article and metadata is provided as an attribute in the NetCDF file itself.kummu_etal_scidata_codeThis file contains the scripts for data handling and production An increasing amount of high-resolution global spatial data are available, and used for various assessments. However, key economic and human development indicators are still mainly provided only at national level, and downscaled by users for gridded spatial analyses. Instead, it would be beneficial to adopt data for sub-national administrative units where available, supplemented by national data where necessary. To this end, we present gap-filled multiannual datasets in gridded form for Gross Domestic Product (GDP) and Human Development Index (HDI). To provide a consistent product over time and space, the sub-national data were only used indirectly, scaling the reported national value and thus, remaining representative of the official statistics. This resulted in annual gridded datasets for GDP per capita (PPP), total GDP (PPP), and HDI, for the whole world at 5 arc-min resolution for the 25-year period of 1990–2015. Additionally, total GDP (PPP) is provided with 30 arc-sec resolution for three time steps (1990, 2000, 2015).