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.

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.

The statistic shows global gross domestic product (GDP) from 1985 to 2024, with projections up until 2030. In 2020, global GDP amounted to about 85.76 trillion U.S. dollars, two and a half trillion lower than in 2019. Gross domestic product Gross domestic product, also known as GDP, is the accumulated value of all finished goods and services produced in a country, often measured annually. GDP is significant in determining the economic health, growth and productivity in the country, and is a stat often used when comparing several countries at a time, most likely in order to determine which country has seen the most progress. Until 2020, Global GDP had experienced a growth every year since 2010. However, a strong growth rate does not necessarily lead to all positive outcomes and often has a negative effect on inflation rates. A severe growth in GDP leads to lower unemployment, however lower unemployment often leads to higher inflation rates due to demand increasing at a much higher rate than supply and as a result prices rise accordingly. In terms of unemployment, growth had been fairly stagnant since the economic downturn of 2007-2009, but it remains to be seen what the total impact of the coronavirus pandemic will be on total employment.

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 expanded 3 percent in the second 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.

We have extended the time series of global GDP based on Version 5 at https://zenodo.org/record/5880037#.Yyx4lsi5fRQ, which makes the following changes:

a) includes annual global GDP from 2000 - 2020, the unit is PPP 2005 international dollars.

b) updates the GDP projections for the period 2025 - 2100 at five-year intervals under five SSPs, and the unit is PPP 2005 international dollars, which allows for comparsion against the historical values mention above.

This dataset consists of a total of 101 tif images with spatial resolutions of 1 km (in 7 zip files) and 0.25-degree, respectively. The gridded GDP are distributed over land, with Antarctica, oceans, and some non-illuminated or depopulated areas marked as zero. The spatial extents are 90S - 90N and 180E - 180W in standard WGS84 coordinate system.

For more details, please refer to the article: Global gridded GDP data set consistent with the shared socioeconomic pathways that is consistent with Version 5 (GDP unit is PPP 2005 U.S. dollars).

The Gross Domestic Product (GDP) in Cuba was worth 107.35 billion US dollars in 2020, according to official data from the World Bank. The GDP value of Cuba represents 0.10 percent of the world economy. This dataset provides - Cuba GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Key information about US Nominal GDP Growth

• United States Nominal GDP Growth was reported at 5.028 % in Dec 2024.
• This records a decrease from the previous number of 5.032 % for Sep 2024.
• US Nominal GDP Growth data is updated quarterly, averaging 6.138 % from Mar 1948 to Dec 2024, with 308 observations.
• The data reached an all-time high of 19.646 % in Mar 1951 and a record low of -6.835 % in Jun 2020.
• US Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. The Bureau of Economic Analysis provides Nominal GDP in USD.

Key information about Germany Real GDP Growth

• The Gross Domestic Product (GDP) in Germany contracted 0.5 % YoY in Mar 2023, following a growth of 0.8 % in the previous quarter.
• Real GDP Growth YoY data in Germany is updated quarterly, available from Mar 1992 to Mar 2023, with an average rate of 1.6 %.
• The data reached an all-time high of 10.2 % in Jun 2021 and a record low of -10.4 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP Index. Statistisches Bundesamt provides Real GDP Index at chain linked 2015 prices.


Related information about Germany Real GDP Growth

• In the latest reports, Nominal GDP of Germany reached 1,072.8 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 6.2 % in Mar 2023.
• GDP Per Capita in Germany reached 48,562.1 USD in Dec 2022.
• Its Gross Savings Rate was measured at 29.6 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 24.9 % in Mar 2023.
• Public Consumption accounted for 20.5 % in Mar 2023.
• Private Consumption accounted for 49.9 % in Mar 2023.

The novel coronavirus pandemic, or COVID-19, had a severe impact on the global economy, causing a decrease of the G20 countries' gross domestic product (GDP) of all G20 countries except for ***** and ****** in 2020. The rising inflation in 2022 and 2023 also caused slowing economic growth in some countries, but not nearly as heavy as during the COVID-19 pandemic.For more information about the economic impact of the COVID-19 pandemic on the global economy, please check out our dedicated topic page.

Key information about Iran Real GDP Growth

• The Gross Domestic Product (GDP) in Iran expanded 5.0 % YoY in Mar 2022, following a growth of 6.7 % in the previous quarter.
• Real GDP Growth YoY data in Iran is updated quarterly, available from Jun 1989 to Mar 2022, with an average rate of 3.9 %.
• The data reached an all-time high of 22.7 % in Jun 1992 and a record low of -16.0 % in Sep 2008.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Central Bank of the Islamic Republic of Iran provides Real GDP in local currency, at 2016-2017 prices. Real GDP Growth prior to Q1 2020 is calculated from Real GDP at 2011-2012 prices. Real GDP Growth prior to Q2 2005 is calculated from Real GDP at 1997-1998 prices.


Related information about Iran Real GDP Growth

• In the latest reports, Nominal GDP of Iran reached 429.4 USD bn in Mar 2022.
• Its GDP deflator (implicit price deflator) increased 51.5 % in Mar 2022.
• GDP Per Capita in Iran reached 11,557.0 USD in Mar 2021.
• Its Gross Savings Rate was measured at 36.8 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 32.9 % in Mar 2022.
• Public Consumption accounted for 18.0 % in Mar 2022.
• Private Consumption accounted for 45.2 % in Mar 2022.

Graph and download economic data for Real Gross Domestic Product for European Union (27 Countries from 2020) (CLVMNACNSAB1GQEU272020) from Q1 1995 to Q1 2025 about EU, Europe, real, and GDP.

Graph and download economic data for Real gross domestic product per capita (A939RX0Q048SBEA) from Q1 1947 to Q2 2025 about per capita, real, GDP, and USA.

The latest data from show economic growth of -20 percent, which is an increase from the rate of growth of -34 percent in the previous quarter and
a decrease compared to the growth rate of -16 percent in the same quarter last year. The economic growth time series for Lebanon cover the period from...

Key information about Peru Real GDP Growth

• The Gross Domestic Product (GDP) in Peru contracted 0.4 % YoY in Mar 2023, following a growth of 1.7 % in the previous quarter.
• Real GDP Growth YoY data in Peru is updated quarterly, available from Mar 1981 to Mar 2023, with an average rate of 4.3 %.
• The data reached an all-time high of 42.1 % in Jun 2021 and a record low of -30.0 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Central Reserve Bank of Peru provides Real GDP in local currency, at 2007 prices.


Related information about Peru Real GDP Growth

• In the latest reports, Nominal GDP of Peru reached 60.3 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 8.0 % in Mar 2023.
• GDP Per Capita in Peru reached 6,963.3 USD in Jun 2022.
• Its Gross Savings Rate was measured at 21.2 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 18.2 % in Mar 2023.
• Public Consumption accounted for 11.1 % in Mar 2023.
• Private Consumption accounted for 67.8 % in Mar 2023.

Monaco MC:(GDP) Gross Domestic ProductDeflator data was reported at 110.023 2020=100 in 2023. This records an increase from the previous number of 104.482 2020=100 for 2022. Monaco MC:(GDP) Gross Domestic ProductDeflator data is updated yearly, averaging 74.409 2020=100 from Dec 1970 (Median) to 2023, with 54 observations. The data reached an all-time high of 110.023 2020=100 in 2023 and a record low of 14.645 2020=100 in 1970. Monaco MC:(GDP) Gross Domestic ProductDeflator data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Monaco – Table MC.World Bank.WDI: Gross Domestic Product: Nominal. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency. The base year varies by country.;World Bank national accounts data, and OECD National Accounts data files.;;

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