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.

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.

Graph and download economic data for Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in the United States (USHLTHSOCASSQGSP) from 1997 to 2023 about healthcare, social assistance, quantity index, health, GSP, private industries, education, services, private, industry, GDP, and USA.

The Covid-19 pandemic saw growth fall by 2.2 percent, compared with an increase of 2.5 percent the year before. The last time the real GDP growth rates fell by a similar level was during the Great Recession in 2009, and the only other time since the Second World War where real GDP fell by more than one percent was in the early 1980s recession. The given records began following the Wall Street Crash in 1929, and GDP growth fluctuated greatly between the Great Depression and the 1950s, before growth became more consistent.

I discuss the health transition in the United States, bringing new data to bear on health indicators and investigating the changing relationship between health, income, and the environment. I argue that scientific advances played an outsize role and that health improvements were largest among the poor. Health improvements were not a precondition for modern economic growth. The gains to health are largest when the economy has moved from "brawn" to "brains" because this is when the wage returns to education are high, leading the healthy to obtain more education. More education may improve use of health knowledge, producing a virtuous cycle. (JEL H51, I10, J13, N31, N32)

Contains data from the World Bank's data portal covering the following topics which also exist as individual datasets on HDX: Agriculture and Rural Development, Aid Effectiveness, Economy and Growth, Education, Energy and Mining, Environment, Financial Sector, Health, Infrastructure, Social Protection and Labor, Poverty, Private Sector, Public Sector, Science and Technology, Social Development, Urban Development, Gender, Millenium development goals, Climate Change, External Debt, Trade.

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.

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.

United States US: Health Expenditure: Private: % of GDP data was reported at 8.862 % in 2014. This records an increase from the previous number of 8.853 % for 2013. United States US: Health Expenditure: Private: % of GDP data is updated yearly, averaging 8.434 % from Dec 1995 (Median) to 2014, with 20 observations. The data reached an all-time high of 8.985 % in 2009 and a record low of 7.132 % in 1997. United States US: Health Expenditure: Private: % of GDP 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: Health Statistics. Private health expenditure includes direct household (out-of-pocket) spending, private insurance, charitable donations, and direct service payments by private corporations.; ; World Health Organization Global Health Expenditure database (see http://apps.who.int/nha/database for the most recent updates).; Weighted average;

Graph and download economic data for Value Added by Industry: Educational Services, Health Care, and Social Assistance as a Percentage of GDP (VAPGDPESHS) from Q1 2005 to Q3 2024 about social assistance, value added, health, private industries, education, percent, services, private, industry, GDP, and USA.

This statistic depicts the total impact of community hospitals on the economy in the United States from 2009 to 2020. In 2009, hospital expenditures in the United States came to some 680 billion U.S. dollars, while the effect of these expenditures on the total national economic output was over 2.2 trillion U.S. dollars.

Hospitals and the U.S. economy

Hospital expenditures in the United States have risen from about 680 billion U.S. dollars in 2009 to over 800 billion U.S. dollars in 2014. During this time, hospital payrolls and benefits have also increased from 337 billion U.S. dollars to 392 billion U.S. dollars. In 2014, the effect of hospital expenditures from the hospitals in Michigan totaled 57.7 billion U.S. dollar in outputs for the state’s economy.

Community hospitals are not part of a university, health systems, or chains within private hospitals. Larger hospital systems and medical centers are becoming more common as they tend to generate larger revenues and offer a broader spectrum of services. However, community hospitals have the advantage of developing more effective care models that are centralized around the community that they serve. Their small sizes also allows for easier and quicker redesigns when necessary to meet patient needs.

Community hospitals in the country have seen an increase in the total number of admissions from 31.6 million people in 1997 to 33.1 million people in 2014. In the same year, the average stay at a community hospital cost about 12,000 U.S. dollars.

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.

United States US: Health Expenditure: Public: % of Total Health Expenditure data was reported at 48.297 % in 2014. This records an increase from the previous number of 47.610 % for 2013. United States US: Health Expenditure: Public: % of Total Health Expenditure data is updated yearly, averaging 45.073 % from Dec 1995 (Median) to 2014, with 20 observations. The data reached an all-time high of 48.297 % in 2014 and a record low of 43.215 % in 1999. United States US: Health Expenditure: Public: % of Total Health Expenditure 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: Health Statistics. Public health expenditure consists of recurrent and capital spending from government (central and local) budgets, external borrowings and grants (including donations from international agencies and nongovernmental organizations), and social (or compulsory) health insurance funds. Total health expenditure is the sum of public and private health expenditure. It covers the provision of health services (preventive and curative), family planning activities, nutrition activities, and emergency aid designated for health but does not include provision of water and sanitation.; ; World Health Organization Global Health Expenditure database (see http://apps.who.int/nha/database for the most recent updates).; Weighted average;

Data for "By-degree Health and Economic Impacts of Lyme Disease, Eastern and Midwestern United States", published March 2024. The datasets show cases by state, fips code, case status, sex, age (by 5-year increments), and frequency. Citation information for this dataset can be found in Data.gov's References section.

United States Unemployment Rate: PW: NA: EH: Health Care & Social Assistance (HC) data was reported at 2.800 % in Feb 2025. This records an increase from the previous number of 2.500 % for Jan 2025. United States Unemployment Rate: PW: NA: EH: Health Care & Social Assistance (HC) data is updated monthly, averaging 3.200 % from Jan 2000 (Median) to Feb 2025, with 302 observations. The data reached an all-time high of 10.300 % in Apr 2020 and a record low of 2.000 % in Apr 2024. United States Unemployment Rate: PW: NA: EH: Health Care & Social Assistance (HC) 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.G037: Current Population Survey: Unemployment Rate.

United States BED: sa: Job Losses: Educ & Health Svcs data was reported at 861.000 Unit th in Dec 2017. This records a decrease from the previous number of 903.000 Unit th for Sep 2017. United States BED: sa: Job Losses: Educ & Health Svcs data is updated quarterly, averaging 726.000 Unit th from Sep 1992 (Median) to Dec 2017, with 102 observations. The data reached an all-time high of 905.000 Unit th in Dec 2016 and a record low of 514.000 Unit th in Sep 1992. United States BED: sa: Job Losses: Educ & Health Svcs 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.G043: Business Employment Dynamics.

United States Kentucky: Gen Exp: Health data was reported at 928,911.000 USD th in 2015. This records an increase from the previous number of 852,939.000 USD th for 2014. United States Kentucky: Gen Exp: Health data is updated yearly, averaging 352,937.000 USD th from Jun 1977 (Median) to 2015, with 37 observations. The data reached an all-time high of 1,043,699.000 USD th in 2011 and a record low of 73,358.000 USD th in 1977. United States Kentucky: Gen Exp: Health data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.F026: Revenue & Expenditure: State and Local Government: Kentucky.

United States New Hampshire: Gen Exp: Health data was reported at 138,183.000 USD th in 2015. This records an increase from the previous number of 135,264.000 USD th for 2014. United States New Hampshire: Gen Exp: Health data is updated yearly, averaging 111,724.000 USD th from Jun 1977 (Median) to 2015, with 37 observations. The data reached an all-time high of 166,153.000 USD th in 2013 and a record low of 12,950.000 USD th in 1977. United States New Hampshire: Gen Exp: Health data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.F038: Revenue & Expenditure: State and Local Government: New Hampshire.

United States Alaska: Gen Exp: Health data was reported at 288,932.000 USD th in 2015. This records an increase from the previous number of 279,116.000 USD th for 2014. United States Alaska: Gen Exp: Health data is updated yearly, averaging 156,558.000 USD th from Jun 1977 (Median) to 2015, with 37 observations. The data reached an all-time high of 357,656.000 USD th in 2009 and a record low of 23,460.000 USD th in 1977. United States Alaska: Gen Exp: Health data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.F010: Revenue & Expenditure: State and Local Government: Alaska.

Graph and download economic data for Gross Domestic Product: Ambulatory Health Care Services (621) in the United States (USAMBHCNGSP) from 1997 to 2023 about ambulatory, assistance, healthcare, social assistance, health, GSP, private industries, education, services, private, industry, GDP, and USA.