For most of the past two decades, China had the highest GDP growth of any of the BRICS countries, although it was overtaken by India in the mid-2010s, and India is predicted to have the highest growth in the 2020s. All five countries saw their GDP growth fall during the global financial crisis in 2008, and again during the coronavirus pandemic in 2020; China was the only economy that continued to grow during both crises, although India's economy also grew during the Great Recession. In 2014, Brazil experienced its own recession due to a combination of economic and political instability, while Russia also went into recession due to the drop in oil prices and the economic sanctions imposed following its annexation of Crimea.

The gross domestic product (GDP) of all G7 countries decreased sharply in 2009 and 2020 due to the financial crisis and COVID-19 pandemic, respectively. The growth decline was heavier after the COVID-19 pandemic than the financial crisis. Moreover, Italy had a negative GDP growth rate in 2012 and 2013 following the euro crisis. In 2023, Germany experienced an economic recession.

In 2024 the real gross domestic product (GDP) of the United States increased by 2.8 percent compared to 2023.
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 Gross Domestic Product (GDP) in the United States expanded 3.80 percent in the second quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This dataset provides values for GDP ANNUAL GROWTH RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Key information about US Nominal GDP Growth

• United States Nominal GDP Growth was reported at 5.028 % in Dec 2024.
• This records a decrease from the previous number of 5.032 % for Sep 2024.
• US Nominal GDP Growth data is updated quarterly, averaging 6.138 % from Mar 1948 to Dec 2024, with 308 observations.
• The data reached an all-time high of 19.646 % in Mar 1951 and a record low of -6.835 % in Jun 2020.
• US Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. The Bureau of Economic Analysis provides Nominal GDP in USD.

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.

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

Key information about Japan Real GDP Growth

• The Gross Domestic Product (GDP) in Japan expanded 0.4 % YoY in Dec 2022, following a growth of 1.5 % in the previous quarter.
• Real GDP Growth YoY data in Japan is updated quarterly, available from Mar 1956 to Dec 2022, with an average rate of 3.2 %.
• The data reached an all-time high of 16.6 % in Mar 1960 and a record low of -10.4 % in Dec 1979.

CEIC calculates Real GDP Growth from quarterly Real GDP. Economic and Social Research Institute provides Real GDP in local currency, at chain linked 2015 prices. Real GDP Growth prior to Q1 1995 is calculated from Real GDP at 2000 prices. Real GDP Growth prior to Q1 1981 is calculated from GDP Volume Index with base 2010=100 sourced from the International Monetary Fund.


Related information about Japan Real GDP Growth

• In the latest reports, Nominal GDP of Japan reached 990.7 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 1.2 % in Dec 2022.
• GDP Per Capita in Japan reached 33,901.7 USD in Dec 2022.
• Its Gross Savings Rate was measured at 28.8 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 26.6 % in Dec 2022.
• Public Consumption accounted for 22.3 % in Dec 2022.
• Private Consumption accounted for 55.2 % in Dec 2022.

The fastest growing economy in Europe in 2024 was Malta. The small Mediterranean country's gross domestic product grew at five percent in 2024, beating out Montenegro which had a growth rate of almost four percent and the Russian Federation which had a rate of 3.6 percent in the same year. Estonia was the country with the largest negative growth in 2024, as the Baltic country's economy shrank by 0.88 percent compared with 2023, largely as a result of the country's exposure to the economic effects of Russia's invasion of Ukraine and the subsequent economic sanctions placed on Russia. Germany, Europe's largest economy, experience economic stagnation with a growth of 0.1 percent. Overall, the EU (which contains 27 European countries) registered a growth rate of one percent and the Eurozone (which contains 20) grew by 0.8 percent.

The combined gross domestic product (GDP) of all G7 countries decreased sharply in 2009 and 2020 due to the financial crisis and COVID-19 pandemic, respectively. The growth decline was heavier after the COVID-19 pandemic than the financial crisis. In 2024, the combined GDP of the seven countries was estimated to grow *** percent compared to the previous year.

The Gross Domestic Product (GDP) in India expanded 7.80 percent in the second quarter of 2025 over the same quarter of the previous year. This dataset provides - India GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about India Nominal GDP Growth

• India Nominal GDP Growth was reported at 9.912 % in Dec 2024.
• This records an increase from the previous number of 8.263 % for Sep 2024.
• India Nominal GDP Growth data is updated quarterly, averaging 12.046 % from Jun 1997 to Dec 2024, with 111 observations.
• The data reached an all-time high of 32.980 % in Jun 2021 and a record low of -21.356 % in Jun 2020.
• India Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Nominal GDP Growth prior to Q2 2012 is calculated from Nominal GDP based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices and prior to Q2 2005 is calculated from Nominal GDP based on SNA 1993, at 1999-2000 prices.

The statistic depicts France's real gross domestic product (GDP) growth rate from 2020 to 2024, with projections up until 2030. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2024, France's real GDP grew by about 1.07 percent compared to the previous year. Unemployment in France France has one of the largest economies in the world and is the second largest economy in the European Union, behind Germany, with whom France often partnered in order to support the structure of the European Union. France is also the fourth most populated country in Europe and has maintained slow population growth since the mid 2000s. Despite being not only a European but also a global economic power, France struggled with maintaining a low unemployment rate and experienced a significant increase in unemployment after the 2008 crash, just like many other prominent industrial countries. However, unlike these other nations, unemployment continued to rise well into the 2010s, while the employment situations in neighboring and international countries improved almost every year. The lack of working opportunities is related to the Eurozone crisis that primarily affected southern European countries, such as Spain, Portugal and Italy.

In 2024, the annual growth rate of the real gross domestic product (GDP) in Taiwan amounted to approximately 4.6 percent. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. GDP development in Taiwan The GDP of Taiwan displayed a comparatively stable development over the last decade with growth rates averaging 3.3 percent between 2014 and 2024. This strong economic performance was mainly due to the successful development of high-tech industries, especially in the electronics sector, and the firm integration into global value chains. The industrial sector of Taiwan is still comparatively large and produces many intermediate products for the global market. Despite the island’s small size, Taiwan is among the leading exporters and has one of the highest trade surpluses in the world. GDP per capita reached around 32,400 U.S. dollars in 2023. Current economic development Taiwan was among few to be able to maintain strong economic growth during the global spread of the coronavirus pandemic in 2020 and 2021. At the end of 2022, the country was hit by the global economic downturn, and quarterly GDP growth dropped to -3.5 percent in the first quarter of 2023. However, the economy rebounded quickly and returned to positive growth in the second quarter.

Key information about Italy Real GDP Growth

• The Gross Domestic Product (GDP) in Italy expanded 1.4 % YoY in Dec 2022, following a growth of 2.8 % in the previous quarter.
• Real GDP Growth YoY data in Italy is updated quarterly, available from Mar 1982 to Dec 2022, with an average rate of 1.4 %.
• The data reached an all-time high of 17.4 % in Jun 2021 and a record low of -18.5 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. Italian National Institute of Statistics provides Real GDP in EUR based on ESA 2010, at chain linked 2015 prices. Real GDP Growth prior to Q1 1997 is calculated from Real GDP based on ESA 1995 at chain linked 2000 prices.


Related information about Italy Real GDP Growth

• In the latest reports, Nominal GDP of Italy reached 501.3 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 5.6 % in Dec 2022.
• GDP Per Capita in Italy reached 35,643.1 USD in Dec 2021.
• Its Gross Savings Rate was measured at 20.3 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 21.8 % in Dec 2022.
• Public Consumption accounted for 21.1 % in Dec 2022.
• Private Consumption accounted for 58.6 % in Dec 2022.

The Gross Domestic Product (GDP) in Canada expanded 1.20 percent in the second quarter of 2025 over the same quarter of the previous year. This dataset provides - Canada GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This dataset provides values for GDP ANNUAL GROWTH RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Key information about Indonesia Real GDP Growth

• The Gross Domestic Product (GDP) in Indonesia expanded 5.0 % YoY in Dec 2022, following a growth of 5.7 % in the previous quarter.
• Real GDP Growth YoY data in Indonesia is updated quarterly, available from Mar 1994 to Dec 2022, with an average rate of 5.1 %.
• The data reached an all-time high of 10.7 % in Jun 1994 and a record low of -18.3 % in Dec 1998.

CEIC calculates quarterly Real GDP Growth from quarterly Real GDP. The Central Bureau of Statistics provides Real GDP in local currency, at 2010 prices, based on SNA 2008. Real GDP Growth prior to Q1 2011 is calculated from Real GDP at 2000 prices and prior to Q1 2001 from Real GDP at 1993 prices, both based on SNA 1993. CEIC menghitung Pertumbuhan PDB Riil dari PDB Riil triwulanan. BPS menyediakan PDB Riil dalam mata uang dalam negeri, pada harga tahun 2010.


Related information about Indonesia Real GDP Growth

• In the latest reports, Nominal GDP of Indonesia reached 328.6 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 8.3 % in Dec 2022.
• GDP Per Capita in Indonesia reached 4,783.3 USD in Dec 2022.
• Its Gross Savings Rate was measured at 37.3 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 27.6 % in Dec 2022.
• Public Consumption accounted for 9.9 % in Dec 2022.
• Private Consumption accounted for 52.8 % in Dec 2022.

The GDP of the Middle East and Central Asia is forecast to grow faster between 2024 and 2025 than other regions in the world. According to an economic outlook forecast, the GDP in the advanced economies will grow by 1.65 percent in 2030.