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 statistic shows the growth rate of the real gross domestic product (GDP) in the United States 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, the growth of the real gross domestic product in the United States was around 2.8 percent compared to the previous year. See U.S. GDP per capita and the US GDP for more information. Real gross domestic product (GDP) of the United States The gross domestic product (GDP) of a country is a crucial economic indicator, representing the market value of the total goods and services produced and offered by a country within a year, thus serving as one of the indicators of a country’s economic state. The real GDP of a country is defined as its gross domestic product adjusted for inflation. An international comparison of economic growth rates has ranked the United States alongside other major global economic players such as China and Russia in terms of real GDP growth. With further growth expected during the course of the coming years, as consumer confidence continues to improve, experts predict that the worst is over for the United States economy. A glance at US real GDP figures reveals an overall increase in growth, with sporadic slips into decline; the last recorded decline took place in Q1 2011. All in all, the economy of the United States can be considered ‘well set’, with exports and imports showing positive results. Apart from this fact, the United States remains one of the world’s leading exporting countries, having been surpassed only by China and tailed by Germany. It is also ranked first among the top global importers. Despite this, recent surveys revealing Americans’ assessments of the U.S. economy have yielded less optimistic results. Interestingly enough, this consensus has been mutual across the social and environmental spectrum. On the other hand, GDP is often used as an indicator for the standard of living in a country – and most Americans seem quite happy with theirs.

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 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.

Graph and download economic data for Chain-Type Quantity Index for Real GDP: Information (51) in Washington (WAINFOQQGSP) from Q1 2005 to Q1 2025 about quantity index, information, WA, GSP, private industries, private, industry, GDP, and USA.

Graph and download economic data for Nominal Gross Domestic Product for United States (NGDPSAXDCUSQ) from Q1 1950 to Q1 2025 about GDP and USA.

The U.S. Census Bureau.s economic indicator surveys provide monthly and quarterly data that are timely, reliable, and offer comprehensive measures of the U.S. economy. These surveys produce a variety of statistics covering construction, housing, international trade, retail trade, wholesale trade, services and manufacturing. The survey data provide measures of economic activity that allow analysis of economic performance and inform business investment and policy decisions. Other data included, which are not considered principal economic indicators, are the Quarterly Summary of State & Local Taxes, Quarterly Survey of Public Pensions, and the Manufactured Homes Survey. For information on the reliability and use of the data, including important notes on estimation and sampling variance, seasonal adjustment, measures of sampling variability, and other information pertinent to the economic indicators, visit the individual programs' webpages - http://www.census.gov/cgi-bin/briefroom/BriefRm.

The Economic Census is the U.S. Government's official five-year measure of American business and the economy. It is conducted by the U.S. Census Bureau, and response is required by law. In October through December of the census year, forms are sent out to nearly 4 million businesses, including large, medium and small companies representing all U.S. locations and industries. Respondents were asked to provide a range of operational and performance data for their companies. This dataset presents company, establishments, value of shipments, value of product shipments, percentage of product shipments of the total value of shipments, and percentage of distribution of value of product shipments.

Key information about United States Real GDP Growth

• The Gross Domestic Product (GDP) in United States expanded 1.6 % YoY in Mar 2023, following a growth of 0.9 % in the previous quarter.
• Real GDP Growth YoY data in US is updated quarterly, available from Mar 1948 to Mar 2023, with an average rate of 3.0 %.
• The data reached an all-time high of 13.4 % in Dec 1950 and a record low of -8.4 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Bureau of Economic Analysis provides Real GDP in USD, at chain linked 2012 prices.


Related information about United States Real GDP Growth

• In the latest reports, Nominal GDP of US reached 6,621.6 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 5.4 % in Mar 2023.
• GDP Per Capita in US reached 59,484.0 USD in Dec 2017.
• Its Gross Savings Rate was measured at 15.9 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 20.7 % in Mar 2023.
• Public Consumption accounted for 14.1 % in Mar 2023.
• Private Consumption accounted for 67.9 % in Mar 2023.

Graph and download economic data for Contributions to Percent Change in Real GDP by Industry: Information (CPGDPI) from Q2 2005 to Q1 2025 about contributions, information, private industries, percent, private, real, industry, GDP, and USA.

As of the first quarter of 2025, the GDP of the U.S. fell by 0.5 percent from the fourth quarter of 2024. GDP, or gross domestic product, is effectively a count of the total goods and services produced in a country over a certain period of time. It is calculated by first adding together a country’s total consumer spending, government spending, investments and exports; and then deducting the country’s imports. The values in this statistic are the change in ‘constant price’ or ‘real’ GDP, which means this basic calculation is also adjusted to factor in the regular price changes measured by the U.S. inflation rate. Because of this adjustment, U.S. real annual GDP will differ from the U.S. 'nominal' annual GDP for all years except the baseline from which inflation is calculated. What is annualized GDP? The important thing to note about the growth rates in this statistic is that the values are annualized, meaning the U.S. economy has not actually contracted or grown by the percentage shown. For example, the fall of 29.9 percent in the second quarter of 2020 did not mean GDP is suddenly one third less than a year before. In fact, it means that if the decline seen during that quarter continued at the same rate for a full year, then GDP would decline by this amount. Annualized values can therefore exaggerate the effect of short-term economic shocks, as they only look at economic output during a limited period. This effect can be seen by comparing annualized quarterly growth rates with the annual GDP growth rates for each calendar year.

Government spending in the United States was last recorded at 39.7 percent of GDP in 2024 . This dataset provides - United States Government Spending To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Graph and download economic data for Real Gross Domestic Product: Information (51) in the United States (USINFORQGSP) from Q1 2005 to Q1 2025 about information, GSP, private industries, private, real, industry, GDP, and USA.

The United States recorded a Government Debt to GDP of 124.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United States GDP: GO: PI: Information (IF) data was reported at 1,258.300 USD bn in 2011. This records an increase from the previous number of 1,194.500 USD bn for 2010. United States GDP: GO: PI: Information (IF) data is updated yearly, averaging 833.700 USD bn from Dec 1987 (Median) to 2011, with 25 observations. The data reached an all-time high of 1,258.300 USD bn in 2011 and a record low of 328.300 USD bn in 1987. United States GDP: GO: PI: Information (IF) data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A120: NIPA 2009: GDP by Industry: Gross Output: Current Price.

United States GDP: 2000p: sa: GPDI: FI: NR: ES: Info Processing (IP) data was reported at 619.500 USD bn in Mar 2009. This records a decrease from the previous number of 651.800 USD bn for Dec 2008. United States GDP: 2000p: sa: GPDI: FI: NR: ES: Info Processing (IP) data is updated quarterly, averaging 412.800 USD bn from Mar 1990 (Median) to Mar 2009, with 77 observations. The data reached an all-time high of 702.900 USD bn in Jun 2008 and a record low of 99.400 USD bn in Sep 1990. United States GDP: 2000p: sa: GPDI: FI: NR: ES: Info Processing (IP) data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A175: NIPA 2003: GDP by Expenditure.

United States US: Aerospace Industry: Trade Balance data was reported at 48.890 USD bn in 2021. This records an increase from the previous number of 37.029 USD bn for 2020. United States US: Aerospace Industry: Trade Balance data is updated yearly, averaging 39.437 USD bn from Dec 1990 (Median) to 2021, with 32 observations. The data reached an all-time high of 86.993 USD bn in 2016 and a record low of 20.681 USD bn in 1995. United States US: Aerospace Industry: Trade Balance data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s United States – Table US.OECD.MSTI: Trade Statistics: OECD Member: Annual.

For the United States, from 2021 onwards, changes to the US BERD survey questionnaire allowed for more exhaustive identification of acquisition costs for ‘identifiable intangible assets’ used for R&D. This has resulted in a substantial increase in reported R&D capital expenditure within BERD. In the business sector, the funds from the rest of the world previously included in the business-financed BERD, are available separately from 2008. From 2006 onwards, GOVERD includes state government intramural performance (most of which being financed by the federal government and state government own funds). From 2016 onwards, PNPERD data are based on a new R&D performer survey. In the higher education sector all fields of SSH are included from 2003 onwards.

Following a survey of federally-funded research and development centers (FFRDCs) in 2005, it was concluded that FFRDC R&D belongs in the government sector - rather than the sector of the FFRDC administrator, as had been reported in the past. R&D expenditures by FFRDCs were reclassified from the other three R&D performing sectors to the Government sector; previously published data were revised accordingly. Between 2003 and 2004, the method used to classify data by industry has been revised. This particularly affects the ISIC category “wholesale trade” and consequently the BERD for total services.

U.S. R&D data are generally comparable, but there are some areas of underestimation:

1. i) Up to 2008, Government sector R&D performance covers only federal government activities. That by State and local government establishments is excluded;
2. ii) Except for the Government and the Business Enterprise sectors, the R&D data exclude most capital expenditures. For the Business Enterprise sector, depreciation is reported in place of gross capital expenditures up to 2014. Higher education (and national total) data were revised back to 1998 due to an improved methodology that corrects for double-counting of R&D funds passed between institutions.

Breakdown by type of R&D (basic research, applied research, etc.) was also revised back to 1998 in the business enterprise and higher education sectors due to improved estimation procedures.

The methodology for estimating researchers was changed as of 1985. In the Government, Higher Education and PNP sectors the data since then refer to employed doctoral scientists and engineers who report their primary work activity as research, development or the management of R&D, plus, for the Higher Education sector, the number of full-time equivalent graduate students with research assistantships averaging an estimated 50 % of their time engaged in R&D activities. As of 1985 researchers in the Government sector exclude military personnel. As of 1987, Higher education R&D personnel also include those who report their primary work activity as design.

Due to lack of official data for the different employment sectors, the total researchers figure is an OECD estimate up to 2019. Comprehensive reporting of R&D personnel statistics by the United States has resumed with records available since 2020, reflecting the addition of official figures for the number of researchers and total R&D personnel for the higher education sector and the Private non-profit sector; as well as the number of researchers for the government sector. The new data revise downwards previous OECD estimates as the OECD extrapolation methods drawing on historical US data, required to produce a consistent OECD aggregate, appear to have previously overestimated the growth in the number of researchers in the higher education sector.

Pre-production development is excluded from Defence GBARD (in accordance with the Frascati Manual) as of 2000. 2009 GBARD data also includes the one time incremental R&D funding legislated in the American Recovery and Reinvestment Act of 2009. Beginning with the 2000 GBARD data, budgets for capital expenditure – “R&D plant” in national terminology - are included. GBARD data for earlier years relate to budgets for current costs only.

United States US: Government Expenditure per Student: Secondary: % of(GDP) Gross Domestic Productper Capita data was reported at 22.500 % in 2014. This records a decrease from the previous number of 22.657 % for 2013. United States US: Government Expenditure per Student: Secondary: % of(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 22.810 % from Dec 2010 (Median) to 2014, with 5 observations. The data reached an all-time high of 24.341 % in 2010 and a record low of 22.500 % in 2014. United States US: Government Expenditure per Student: Secondary: % of(GDP) Gross Domestic Productper Capita 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: Education Statistics. Government expenditure per student is the average general government expenditure (current, capital, and transfers) per student in the given level of education, expressed as a percentage of GDP per capita.; ; United Nations Educational, Scientific, and Cultural Organization (UNESCO) Institute for Statistics.; Median;

The gross domestic product (GDP) of California was about 4.1 trillion U.S. dollars in 2024, 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 45.71 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.