The Gross Domestic Product (GDP) in the United States was worth 27720.71 billion US dollars in 2023, according to official data from the World Bank. The GDP value of the United States represents 26.29 percent of the world economy. This dataset provides - United States GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the U.S. GDP increased from the previous year to about 27.36 trillion U.S. dollars. This increase in GDP can be attributed to a continued rebound from the impact of the coronavirus pandemic. Gross domestic product (GDP) refers to the market value of all goods and services produced within a country. In 2023, the United States has the largest economy in the world. See, for example, the Russian GDP for comparison.

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.

The statistic shows the gross domestic product (GDP) of the United States from 1987 to 2023, with projections up until 2029. The gross domestic product of the United States in 2023 amounted to around 27.72 trillion U.S. dollars. The United States and the economy The United States’ economy is by far the largest in the world; a status which can be determined by several key factors, one being gross domestic product: A look at the GDP of the main industrialized and emerging countries shows a significant difference between US GDP and the GDP of China, the runner-up in the ranking, as well as the followers Japan, Germany and France. Interestingly, it is assumed that China will have surpassed the States in terms of GDP by 2030, but for now, the United States is among the leading countries in almost all other relevant rankings and statistics, trade and employment for example. See the U.S. GDP growth rate here. Just like in other countries, the American economy suffered a severe setback when the economic crisis occurred in 2008. The American economy entered a recession caused by the collapsing real estate market and increasing unemployment. Despite this, the standard of living is considered quite high; life expectancy in the United States has been continually increasing slightly over the past decade, the unemployment rate in the United States has been steadily recovering and decreasing since the crisis, and the Big Mac Index, which represents the global prices for a Big Mac, a popular indicator for the purchasing power of an economy, shows that the United States’ purchasing power in particular is only slightly lower than that of the euro area.

The Gross Domestic Product (GDP) in the United States expanded 2.50 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides the latest reported value for - United States GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

United States CSI: Current Economic Condition data was reported at 112.300 1966=100 in Nov 2018. This records a decrease from the previous number of 113.100 1966=100 for Oct 2018. United States CSI: Current Economic Condition data is updated monthly, averaging 102.000 1966=100 from Jan 1978 (Median) to Nov 2018, with 491 observations. The data reached an all-time high of 121.200 1966=100 in Mar 2018 and a record low of 57.500 1966=100 in Nov 2008. United States CSI: Current Economic Condition data remains active status in CEIC and is reported by University of Michigan. The data is categorized under Global Database’s United States – Table US.H025: Consumer Sentiment Index.

United States US: GDP data was reported at 19,390.604 USD bn in 2017. This records an increase from the previous number of 18,624.475 USD bn for 2016. United States US: GDP data is updated yearly, averaging 5,455.161 USD bn from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 19,390.604 USD bn in 2017 and a record low of 543.300 USD bn in 1960. United States US: GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Nominal. GDP at purchaser's prices 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 local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. 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.

In December 2024, a public opinion survey found that only six percent of Americans felt that the economy was in an excellent state. Of the Americans surveyed, 38 percent considered the economy to be in a poor state.

Graph and download economic data for National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for United States (USAGDPNQDSMEI) from Q1 1960 to Q3 2023 about GDP and USA.

Graph and download economic data for Composite Leading Indicators: Reference Series (GDP) Calendar and Seasonally Adjusted for United States (LORSGPORUSQ661S) from Q1 1947 to Q4 2023 about leading indicator, GDP, and USA.

Graph and download economic data for Nominal Gross Domestic Product for United States (NGDPSAXDCUSQ) from Q1 1950 to Q3 2024 about GDP and USA.

United States US: GDP: % of GDP: Gross Value Added: Agriculture data was reported at 1.014 % in 2016. This records a decrease from the previous number of 1.070 % for 2015. United States US: GDP: % of GDP: Gross Value Added: Agriculture data is updated yearly, averaging 1.139 % from Dec 1997 (Median) to 2016, with 20 observations. The data reached an all-time high of 1.380 % in 2013 and a record low of 0.969 % in 2002. United States US: GDP: % of GDP: Gross Value Added: Agriculture data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Share of GDP. Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

The United States recorded a Government Debt to GDP of 122.30 percent of the country's Gross Domestic Product in 2023. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Gross value added: GDP: General government: State and local (A767RC1Q027SBEA) from Q1 1947 to Q4 2024 about state & local, value added, gross, government, GDP, and USA.

Full Year GDP Growth in the United States decreased to 2.80 percent in 2024 from 2.90 percent in 2023. This dataset includes a chart with historical data for the United States Full Year GDP Growth.

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.

Key information about United States Market Capitalization: % of GDP

• United States Market Capitalization accounted for 155.0 % of its Nominal GDP in Dec 2022, compared with a percentage of 205.0 % in the previous year
• US Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1975 to Dec 2022
• The data reached an all-time high of 205.0 % in Dec 2021 and a record low of 36.7 % in Dec 1978

The World Bank provides annual Market Capitalization as % of Nominal GDP. Market Capitalization includes domestic companies listed at the end of the year and excludes investment companies, mutual funds and other collective investment vehicles

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.

United States US: GDP: USD: Net Income from Abroad data was reported at 197.082 USD bn in 2016. This records a decrease from the previous number of 204.520 USD bn for 2015. United States US: GDP: USD: Net Income from Abroad data is updated yearly, averaging 28.758 USD bn from Dec 1960 (Median) to 2016, with 57 observations. The data reached an all-time high of 246.639 USD bn in 2011 and a record low of -6.100 USD bn in 1969. United States US: GDP: USD: Net Income from Abroad data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Nominal. Net income includes the net labor income and net property and entrepreneurial income components of the SNA. Labor income covers compensation of employees paid to nonresident workers. Property and entrepreneurial income covers investment income from the ownership of foreign financial claims (interest, dividends, rent, etc.) and nonfinancial property income (patents, copyrights, etc.). Data are in current U.S. dollars.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

United States US: GDP: Real: Exports of Goods and Services data was reported at 2,210.442 USD bn in 2016. This records a decrease from the previous number of 2,217.733 USD bn for 2015. United States US: GDP: Real: Exports of Goods and Services data is updated yearly, averaging 791.751 USD bn from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 2,217.733 USD bn in 2015 and a record low of 195.020 USD bn in 1970. United States US: GDP: Real: Exports of Goods and Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Real. Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;