The United States has, by far, the largest gross domestic product (GDP) of the G7 countries. Moreover, while the GDP of the other six countries fluctuated between 2000 and 2024, the U.S.' grew almost constantly, reaching an estimated 29.2 trillion U.S. dollars in 2024. The United States is also the world's largest economy ahead of China. Germany had the second largest economy of the G7 countries at around 4.7 trillion U.S. dollars.

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.

The average for 2023 based on 7 countries was 6.46 percent. The highest value was in the USA: 26.47 percent and the lowest value was in Canada: 2.05 percent. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

This data package includes the underlying data to replicate the charts, tables, and calculations presented in The trinity of COVID era inflation in G7 economies, PIIE Working Paper 24-21.

If you use the data, please cite as:

Gagnon, Joseph E., and Asher Rose. 2024. The trinity of COVID era inflation in G7 economies. PIIE Working Paper 24-21. Washington: Peterson Institute for International Economics.

The G7 countries' share of the world's gross domestic product (GDP) declined since 2000. While holding over ** percent of the world's total GDP in 2000, this had dropped below ** percent by 2024, a development that must be seen in relation with China's economic development over the past decades. Of the G7 countries, the United States held the largest share of the world's GDP at ** percent in terms of purchasing-power-parity (PPP).

Graph and download economic data for National Accounts: GDP by Expenditure: Constant Prices: Gross Fixed Capital Formation for G7 (G7NAEXKP04GPSAQ) from Q2 1962 to Q1 2025 about G7, fixed capital formation, fixed, gross, expenditures, real, and GDP.

Germany was forecast to experience an economic stagnation in 2024, with a gross domestic product (GDP) growth rate of **** percent. However, it is estimated to grow slightly in 2024 and 2025. The United States is forecast to have the highest GDP growth rate of the G7 in 2024.

The average for 2023 based on 7 countries was 57085 U.S. dollars. The highest value was in the USA: 74578 U.S. dollars and the lowest value was in Japan: 45915 U.S. dollars. The indicator is available from 1990 to 2023. Below is a chart for all countries where data are available.

The United States has had the highest economic growth in the G7 since the start of the COVID-19 pandemic, with its economy *** percent larger in the first quarter of 2023, when compared with the fourth quarter of 2019. By contrast, the United Kingdom and Germany have both seen their economies shrink by *** percent in the same time period.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities. The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine. At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.

The average for 2023 based on 7 countries was 0.55 points. The highest value was in Japan: 0.95 points and the lowest value was in the USA: 0.03 points. The indicator is available from 1996 to 2023. Below is a chart for all countries where data are available.

The GDP per capita overall increased in all seven G7 countries since 2000 except *****. There, it fluctuated over the period, being only slightly higher in 2024 than in 2000. The ************* had the highest GDP per capita of the countries at over ****** dollars in terms of purchasing-power-parity (PPP). ******* had the second highest GDP per capita.

Graph and download economic data for Production: Manufacturing: Total manufacturing: Total manufacturing for G7 (G7PRMNTO01GPSAM) from Feb 1990 to Apr 2025 about G7, production, and manufacturing.

The G7 is a forum designed for frank and open discussion between leaders, ministers and policy-makers. As a member of the G7, Canada plays a leading role on the international stage and is able to advance domestic and international priorities. The G7 provides global leadership and serves as a powerful catalyst on issues that are later taken up by other fora with broader global and regional membership. The G7 brings together the world’s advanced economies to influence global trends and tackle pervasive and crosscutting issues, as well as emergent global crises. The G7 has strengthened international economic and security policies, advanced discussion of global issues including climate change and gender equality, brought donors together and supported disarmament programs. Most recently, the G7 has worked to tackle the COVID-19 pandemic and respond to Russia’s illegal invasion of Ukraine. At the G7, Canada has advanced its domestic and international priorities, including gender equality, peace and security, climate change and building a sustainable global economy. Transparent and inclusive engagement with Canadian and international stakeholders has helped Canada to deliver on priorities that are important to Canadians.

The average for 2023 based on 5 countries was 22.34 percent. The highest value was in Germany: 30.17 percent and the lowest value was in the United Kingdom: 15.39 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Graph and download economic data for Leading Indicators OECD: Leading indicators: CLI: Amplitude adjusted for G7 (G7LOLITOAASTSAM) from Jan 1959 to May 2025 about G7, leading indicator, and adjusted.

Group of Seven (G7) - OECD based Recession Indicators for Major Seven Countries from the Peak through the Period preceding the Trough was 1.00000 +1 or 0 in August of 2022, according to the United States Federal Reserve. Historically, Group of Seven (G7) - OECD based Recession Indicators for Major Seven Countries from the Peak through the Period preceding the Trough reached a record high of 1.00000 in March of 1960 and a record low of 0.00000 in January of 1961. Trading Economics provides the current actual value, an historical data chart and related indicators for Group of Seven (G7) - OECD based Recession Indicators for Major Seven Countries from the Peak through the Period preceding the Trough - last updated from the United States Federal Reserve on July of 2025.

The average for 2023 based on 4 countries was 1.26 percent. The highest value was in Italy: 1.86 percent and the lowest value was in the United Kingdom: 0.58 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Group of Seven (G7) - Producer Prices Index: Economic Activities: Domestic Manufacturing for the Group of Seven (DISCONTINUED) was 3.20000 Growth Rate Same Period Previous Yr. in September of 2017, according to the United States Federal Reserve. Historically, Group of Seven (G7) - Producer Prices Index: Economic Activities: Domestic Manufacturing for the Group of Seven (DISCONTINUED) reached a record high of 10.00000 in July of 2008 and a record low of -8.50000 in July of 2009. Trading Economics provides the current actual value, an historical data chart and related indicators for Group of Seven (G7) - Producer Prices Index: Economic Activities: Domestic Manufacturing for the Group of Seven (DISCONTINUED) - last updated from the United States Federal Reserve on July of 2025.