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.

Historical chart and dataset showing U.S. GDP by year from 1960 to 2023.

The Gross Domestic Product (GDP) in the United States was worth 29184.89 billion US dollars in 2024, according to official data from the World Bank. The GDP value of the United States represents 27.49 percent of the world economy. This dataset provides - United States GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The gross domestic product (GDP) of California was about 3.23 trillion U.S. dollars in 2023, meaning that it contributed the most out of any state to the country’s GDP in that year. In contrast, Vermont had the lowest GDP in the United States, with 35.07 billion U.S. dollars. What is GDP? Gross domestic product, or GDP, is the total monetary value of all goods and services produced by an economy within a certain time period. GDP is used by economists to determine the economic health of an area, as well as to determine the size of the economy. GDP can be determined for countries, states and provinces, and metropolitan areas. While GDP is a good measure of the absolute size of a country's economy and economic activity, it does account for many other factors, making it a poor indicator for measuring the cost or standard of living in a country, or for making cross-country comparisons. GDP of the United States The United States has the largest gross domestic product in the world as of 2023, with China, Japan, Germany, and India rounding out the top five. The GDP of the United States has almost quadrupled since 1990, when it was about 5.9 trillion U.S. dollars, to about 25.46 trillion U.S. dollars in 2022.

Graph and download economic data for Government current expenditures: State and local: Education: Elementary and secondary (G161081A027NBEA) from 1959 to 2023 about elementary, state & local, secondary, expenditures, education, government, GDP, and USA.

In 2024, Brazil and Mexico were expected to be the countries with the largest gross domestic product (GDP) in Latin America and the Caribbean. In that year, Brazil's GDP could reach an estimated value of 2.4 trillion U.S. dollars, whereas Mexico's amounted to almost two trillion U.S. dollars. GDP is the total value of all goods and services produced in a country in a given year. It measures the economic strength of a country and a positive change indicates economic growth.

This graph shows a forecast of the gross domestic product of the United States of America for fiscal years 2024 to 2034. GDP refers to the market value of all final goods and services produced within a country in a given period. According to the CBO, the United States GDP will increase steadily over the next decade from 28.18 trillion U.S. dollars in 2023 to 41.65 trillion U.S. dollars in 2034. The annual GDP of the United States for recent years can be found here. Also, view the monthly inflation rate for the country.

Graph and download economic data for Government current expenditures: State and local: Health (G161051A027NBEA) from 1959 to 2023 about state & local, health, expenditures, government, GDP, and USA.

United States US: GDP: PPP data was reported at 19,390,604.000 Intl $ mn in 2017. This records an increase from the previous number of 18,624,475.000 Intl $ mn for 2016. United States US: GDP: PPP data is updated yearly, averaging 11,892,799.000 Intl $ mn from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 19,390,604.000 Intl $ mn in 2017 and a record low of 5,979,589.000 Intl $ mn in 1990. United States US: GDP: PPP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current international dollars. For most economies PPP figures are extrapolated from the 2011 International Comparison Program (ICP) benchmark estimates or imputed using a statistical model based on the 2011 ICP. For 47 high- and upper middle-income economies conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD).; ; World Bank, International Comparison Program database.; Gap-filled total;

By April 2026, it is projected that there is a probability of ***** percent that the United States will fall into another economic recession. This reflects a significant decrease from the projection of the preceding month.

Key information about United States Government Debt: % of GDP

• United States Government debt accounted for 124.0 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 123.1 % in the previous quarter.
• US government debt to GDP ratio data is updated quarterly, available from Mar 1969 to Dec 2024.
• The data reached an all-time high of 130.4 % in Mar 2021 and a record low of 31.8 % in Sep 1974.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Bureau of the Fiscal Service provides Government Debt in USD. The Bureau of Economic Analysis provides Nominal GDP in USD. Government Debt covers Central Government only.


Related information about United States Government Debt: % of GDP

• In the latest reports, US National Government Debt reached 36,220.2 USD bn in Jan 2025.
• The country's Nominal GDP reached 6,632.4 USD bn in Mar 2023.

This statistic shows the Economic Confidence Index, created by Gallup, on a monthly basis for the ongoing year. The survey is conducted doing weekly telephone interviews among approx. 2,499 adults in the U.S. The graph shows the results for the first update each month to depict an annual trend. The Index is computed by adding the percentage of Americans rating current economic conditions to the percentage saying the economy is (getting better minus getting worse), and then dividing that sum by 2. The Index has a value between null and +100. In December 2017, the U.S. Economic Confidence Index stood at 8.

Graph and download economic data for State and local government current expenditures: Interest payments (DISCONTINUED) (B111RU1Q027NBEA) from Q1 1947 to Q4 2016 about state & local, payments, expenditures, government, interest, GDP, and USA.

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

United States Employment: Management, Business & Financial Operations data was reported at 25,231.000 Person th in Jun 2018. This records a decrease from the previous number of 25,784.000 Person th for May 2018. United States Employment: Management, Business & Financial Operations data is updated monthly, averaging 19,605.000 Person th from Jan 1983 (Median) to Jun 2018, with 426 observations. The data reached an all-time high of 25,992.000 Person th in Mar 2018 and a record low of 11,609.000 Person th in Feb 1983. United States Employment: Management, Business & Financial Operations data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.G013: Current Population Survey: Employment.

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2023, at 90,730 U.S. dollars, followed closely by Massachusetts. Mississippi had the lowest per-capita real GDP, at 39,102 U.S. dollars. While not a state, the District of Columbia had a per capita GDP of more than 214,000 U.S. dollars. What is real GDP? A country’s real GDP is a measure that shows the value of the goods and services produced by an economy and is adjusted for inflation. The real GDP of a country helps economists to see the health of a country’s economy and its standard of living. Downturns in GDP growth can indicate financial difficulties, such as the financial crisis of 2008 and 2009, when the U.S. GDP decreased by 2.5 percent. The COVID-19 pandemic had a significant impact on U.S. GDP, shrinking the economy 2.8 percent. The U.S. economy rebounded in 2021, however, growing by nearly six percent. Why real GDP per capita matters Real GDP per capita takes the GDP of a country, state, or metropolitan area and divides it by the number of people in that area. Some argue that per-capita GDP is more important than the GDP of a country, as it is a good indicator of whether or not the country’s population is getting wealthier, thus increasing the standard of living in that area. The best measure of standard of living when comparing across countries is thought to be GDP per capita at purchasing power parity (PPP) which uses the prices of specific goods to compare the absolute purchasing power of a countries currency.

The Long Depression was, by a large margin, the longest-lasting recession in U.S. history. It began in the U.S. with the Panic of 1873, and lasted for over five years. This depression was the largest in a series of recessions at the turn of the 20th century, which proved to be a period of overall stagnation as the U.S. financial markets failed to keep pace with industrialization and changes in monetary policy. Great Depression The Great Depression, however, is widely considered to have been the most severe recession in U.S. history. Following the Wall Street Crash in 1929, the country's economy collapsed, wages fell and a quarter of the workforce was unemployed. It would take almost four years for recovery to begin. Additionally, U.S. expansion and integration in international markets allowed the depression to become a global event, which became a major catalyst in the build up to the Second World War. Decreasing severity When comparing recessions before and after the Great Depression, they have generally become shorter and less frequent over time. Only three recessions in the latter period have lasted more than one year. Additionally, while there were 12 recessions between 1880 and 1920, there were only six recessions between 1980 and 2020. The most severe recession in recent years was the financial crisis of 2007 (known as the Great Recession), where irresponsible lending policies and lack of government regulation allowed for a property bubble to develop and become detached from the economy over time, this eventually became untenable and the bubble burst. Although the causes of both the Great Depression and Great Recession were similar in many aspects, economists have been able to use historical evidence to try and predict, prevent, or limit the impact of future recessions.

United States Unemployment Rate: Black or African American data was reported at 5.800 % in Apr 2025. This records a decrease from the previous number of 6.200 % for Mar 2025. United States Unemployment Rate: Black or African American data is updated monthly, averaging 11.100 % from Jan 1972 (Median) to Apr 2025, with 640 observations. The data reached an all-time high of 21.700 % in Jun 1983 and a record low of 4.400 % in Apr 2023. United States Unemployment Rate: Black or African American data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.G: Current Population Survey: Unemployment Rate.

This dataset provides values for ECONOMY WATCHERS SURVEY reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2024, the finance, insurance, real estate, rental, and leasing industry contributed the highest amount of value to the GDP of the U.S. at 21.2 percent. The construction industry contributed around four percent of GDP in the same year.