The 1973-1975 recession saw growth rates across Europe and the OECD fall drastically, from an average of around six percent growth in Western Europe and the OECD as a whole in 1973, to negative growth in 1975. Disparities between European and overall growth varied, due to the recession's effect on individual countries. For example, Japan's growth fell to -1 percent in 1974, but recovery then saw growth reach 2.4 percent in 1975, even though the OECD collectively experienced negative growth.

The decades that followed the Second World War were among the most prosperous in modern history, and are referred to as the Golden Age of Capitalism in many countries. This period came to an end, however, with the 1973-1975 recession. Differences across the bloc Across the OECD member states, there was a significant drop in real GDP growth over the two decades, falling from an average of five percent annual growth in the 1960s to just 3.5 percent annually in most of the 1970s. Of all OECD countries shown here, Japan experienced the highest rate of real GDP growth in both decades, although it dropped from 11 to six percent between these years (Japan's real GDP growth was still higher in the 1970s than the other members' rates in the 1960s). Switzerland saw the largest relative decline over the two periods, with growth in the 1970s below one third of its growth rate in the 1960s. What caused the end of rapid growth? The Yom Kippur War between Israel and its Arab neighbors (primarily Egypt and Syria) resulted in the Arab oil-producing states placing an embargo on Israel's Western allies. This resulted in various energy and economic crises, compounded by other issues such as the end of the Bretton Woods financial system, which had far-reaching consequences for the OECD bloc. Additionally, the cost of agricultural goods and raw materials increased, and there was a very rare case of stagflation across most of the world's leading economies.

The 1973-1975 recession marked the end of a remarkably prosperous period for developed economies. Apart from the United States, who experienced a brief recession in 1969-70, the other nations had enjoyed a period of uninterrupted growth in the 25 years leading up to this event. Japan in particular had the fastest growth of any major economy. This ended, however, following the 1973 oil crisis, which saw the member states of the OAPEC (Organization of Arab Petroleum Exporting Countries) place an embargo on the nations who supported Israel during the Yom Kippur War, particularly the U.S., who supplied arms to Israel. As a result, oil prices quadrupled in some periods; the U.S. and most of its major economic partners then went into recession due to their dependency on oil imports. Additional factors exacerbated the effects of the recession in each country, such as the miners' strike in the United Kingdom, or Nixon's unstable economic policies in the early 1970s. It was not until 1976 when the major OECD economies would come out of their recession, although real GDP growth rates would not return to the consistent highs experienced in the 1950s and 1960s. Additionally, while GDP growth resumed within a few years, inflation rates and unemployment rates generally remained higher going into the 1980s.

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.

Monaco GDP for 2022 was 8.78 billion US dollars, a 1.83% increase from 2021.

• Monaco GDP for 2021 was 8.63 billion US dollars, a 27.99% increase from 2020.
• Monaco GDP for 2020 was 6.74 billion US dollars, a 8.73% decline from 2019.
• Monaco GDP for 2019 was 7.38 billion US dollars, a 2.81% increase from 2018.

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.

The Gross Domestic Product (GDP) in Germany contracted 0.20 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides the latest reported value for - Germany GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.; ;

Samoa GDP for 2023 was 934.10 million US dollars, a 12.14% increase from 2022.

• Samoa GDP for 2022 was 832.95 million US dollars, a 1.3% decline from 2021.
• Samoa GDP for 2021 was 843.92 million US dollars, a 2.87% decline from 2020.
• Samoa GDP for 2020 was 868.90 million US dollars, a 4.83% decline from 2019.

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.

The Gross Domestic Product (GDP) in Monaco was worth 10 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Monaco represents 0.01 percent of the world economy. This dataset provides the latest reported value for - Monaco GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Malaysia (DC)Gross Domestic Product 1970p data was reported at 31,442.000 MYR mn in 1983. This records an increase from the previous number of 29,677.000 MYR mn for 1982. Malaysia (DC)Gross Domestic Product 1970p data is updated yearly, averaging 20,124.000 MYR mn from Dec 1970 (Median) to 1983, with 14 observations. The data reached an all-time high of 31,442.000 MYR mn in 1983 and a record low of 11,829.000 MYR mn in 1970. Malaysia (DC)Gross Domestic Product 1970p data remains active status in CEIC and is reported by Department of Statistics. The data is categorized under Global Database’s Malaysia – Table MY.A075: 1970 Base: GDP by Expenditure: 1970 Price (Annual).

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.

Maldives GDP for 2023 was 6.60 billion US dollars, a 6.96% increase from 2022.

• Maldives GDP for 2022 was 6.17 billion US dollars, a 17.44% increase from 2021.
• Maldives GDP for 2021 was 5.25 billion US dollars, a 41.53% increase from 2020.
• Maldives GDP for 2020 was 3.71 billion US dollars, a 35.16% decline from 2019.

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.

China GDP: 1970p: Primary Industry data was reported at 97.010 RMB bn in 1980. This records a decrease from the previous number of 98.469 RMB bn for 1979. China GDP: 1970p: Primary Industry data is updated yearly, averaging 97.010 RMB bn from Dec 1978 (Median) to 1980, with 3 observations. The data reached an all-time high of 98.469 RMB bn in 1979 and a record low of 92.778 RMB bn in 1978. China GDP: 1970p: Primary Industry data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: Constant Price.

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.

The Gross Domestic Product (GDP) in Greenland was worth 3.24 billion US dollars in 2021, according to official data from the World Bank. The GDP value of Greenland represents 0 percent of the world economy. This dataset provides - Greenland GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Korea (DC)GDP: Fishing data was reported at 251.000 KRW bn in Sep 2008. This records a decrease from the previous number of 277.300 KRW bn for Jun 2008. Korea (DC)GDP: Fishing data is updated quarterly, averaging 301.100 KRW bn from Mar 1970 (Median) to Sep 2008, with 155 observations. The data reached an all-time high of 730.700 KRW bn in Dec 1998 and a record low of 9.900 KRW bn in Jun 1970. Korea (DC)GDP: Fishing data remains active status in CEIC and is reported by The Bank of Korea. The data is categorized under Global Database’s South Korea – Table KR.A067: GDP: By Industry: Current Price (Old).

On October 29, 1929, the U.S. experienced the most devastating stock market crash in it's history. The Wall Street Crash of 1929 set in motion the Great Depression, which lasted for twelve years and affected virtually all industrialized countries. In the United States, GDP fell to it's lowest recorded level of just 57 billion U.S dollars in 1933, before rising again shortly before the Second World War. After the war, GDP fluctuated, but it increased gradually until the Great Recession in 2008. Real GDP Real GDP allows us to compare GDP over time, by adjusting all figures for inflation. In this case, all numbers have been adjusted to the value of the US dollar in FY2012. While GDP rose every year between 1946 and 2008, when this is adjusted for inflation it can see that the real GDP dropped at least once in every decade except the 1960s and 2010s. The Great Recession Apart from the Great Depression, and immediately after WWII, there have been two times where both GDP and real GDP dropped together. The first was during the Great Recession, which lasted from December 2007 until June 2009 in the US, although its impact was felt for years after this. After the collapse of the financial sector in the US, the government famously bailed out some of the country's largest banking and lending institutions. Since recovery began in late 2009, US GDP has grown year-on-year, and reached 21.4 trillion dollars in 2019. The coronavirus pandemic and the associated lockdowns then saw GDP fall again, for the first time in a decade. As economic recovery from the pandemic has been compounded by supply chain issues, inflation, and rising global geopolitical instability, it remains to be seen what the future holds for the U.S. economy.

Graph and download economic data for Federal Debt Held by the Public as Percent of Gross Domestic Product (FYGFGDQ188S) from Q1 1970 to Q4 2024 about public, debt, federal, GDP, and USA.

Throughout the 1970s, Yugoslavia's GDP grew each year at annual rates ranging from 3.6 to 8.5 percent. Unlike the rest of the Eastern Bloc, Yugoslavia had a socialist economy with elements of market capitalism and was more open to trade outside of the communist sphere. However, Yugoslavia was greatly affected by the oil crises of the period, and its national debt (to both the Eastern and Western Blocs) and unemployment rates both rose significantly in the late 1970s. These economic difficulties persisted into the 1980s, where GDP growth fell in several years until the eventual collapse of the economy at the end of the decade.

Andorra GDP for 2023 was 3.73 billion US dollars, a 10.27% increase from 2022.

• Andorra GDP for 2022 was 3.38 billion US dollars, a 1.68% increase from 2021.
• Andorra GDP for 2021 was 3.32 billion US dollars, a 15% increase from 2020.
• Andorra GDP for 2020 was 2.89 billion US dollars, a 8.37% decline from 2019.

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.