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.

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.

View economic output, reported as the nominal value of all new goods and services produced by labor and property located in the U.S.

The Gross Domestic Product (GDP) in the United States contracted 0.50 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, the real gross domestic product (GDP) of California was 3.23 trillion U.S. dollars. This is a slight increase from the previous year, when the state's GDP stood at 3.23 trillion U.S. dollars.

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.

World GDP for 2023 was 100.000 trillion US dollars, a 0% increase from 2022.

<ul style='margin-top:20px;'>

<li>World GDP for 2022 was <strong>100.000 trillion US dollars</strong>, a <strong>2.2% increase</strong> from 2021.</li>
<li>World GDP for 2021 was <strong>97.848 trillion US dollars</strong>, a <strong>14.09% increase</strong> from 2020.</li>
<li>World GDP for 2020 was <strong>85.763 trillion US dollars</strong>, a <strong>2.71% decline</strong> from 2019.</li>
</ul>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 U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

In 2023, the real gross domestic product (GDP) of North Carolina was 625.68 billion U.S. dollars. This is a significant increase from the previous year, when the state's GDP stood at 609.06 billion U.S. dollars.

World gdp growth rate for 2023 was 2.83%, a 0.4% decline from 2022.

<ul style='margin-top:20px;'>

<li>World gdp growth rate for 2022 was <strong>3.24%</strong>, a <strong>3.11% decline</strong> from 2021.</li>
<li>World gdp growth rate for 2021 was <strong>6.35%</strong>, a <strong>9.23% increase</strong> from 2020.</li>
<li>World gdp growth rate for 2020 was <strong>-2.88%</strong>, a <strong>5.55% decline</strong> from 2019.</li>
</ul>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.

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

In 2023, the real gross domestic product (GDP) of Georgia was about 661.11 billion U.S. dollars. This reflects an increase from the previous year when the state's GDP was 655.83 billion U.S. dollars. The annual real GDP growth of the U.S. can be accessed here.

The Gross Domestic Product (GDP) in Vietnam expanded 7.96 percent in the second quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - Vietnam GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Gross Domestic Product (GDP) in Kosovo was worth 11.15 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Kosovo represents 0.01 percent of the world economy. This dataset provides the latest reported value for - Kosovo GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Italy GDP for 2023 was 2.301 trillion US dollars, a 9.41% increase from 2022.

<ul style='margin-top:20px;'>

<li>Italy GDP for 2022 was <strong>2.103 trillion US dollars</strong>, a <strong>3.5% decline</strong> from 2021.</li>
<li>Italy GDP for 2021 was <strong>2.179 trillion US dollars</strong>, a <strong>14.25% increase</strong> from 2020.</li>
<li>Italy GDP for 2020 was <strong>1.907 trillion US dollars</strong>, a <strong>5.55% decline</strong> from 2019.</li>
</ul>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 U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

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

United States Implicit Price Deflators (IPD): GDP: sa data was reported at 124.090 2000=100 in Mar 2009. This records an increase from the previous number of 123.244 2000=100 for Dec 2008. United States Implicit Price Deflators (IPD): GDP: sa data is updated quarterly, averaging 44.505 2000=100 from Mar 1947 (Median) to Mar 2009, with 249 observations. The data reached an all-time high of 124.090 2000=100 in Mar 2009 and a record low of 15.105 2000=100 in Mar 1947. United States Implicit Price Deflators (IPD): GDP: sa 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.A191: NIPA 2003: Implicit Price Deflator: GDP: 2000 Price: Chain Linked: Seasonally Adjusted. Rebased from 2000p to 2005p. Replacement Series ID: 222544402

GDP per capita (constant 2015 US$) in World was reported at 11579 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. World - GDP per capita (constant 2000 US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

In 2023, the real gross domestic product (GDP) of Texas was 2.03 trillion U.S. dollars. This is an increase from the previous year, when the state's real GDP stood at 1.92 trillion U.S. dollars.

United States Gross Domestic Product (GDP): 2000p: sa data was reported at 11,360.500 USD bn in Mar 2009. This records a decrease from the previous number of 11,522.100 USD bn for Dec 2008. United States Gross Domestic Product (GDP): 2000p: sa data is updated quarterly, averaging 4,830.800 USD bn from Mar 1947 (Median) to Mar 2009, with 249 observations. The data reached an all-time high of 11,727.400 USD bn in Jun 2008 and a record low of 1,568.000 USD bn in Sep 1947. United States Gross Domestic Product (GDP): 2000p: sa 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. Rebased from 2000p to 2005p. Replacement Series ID: 222518402