In 2023, the U.S. GDP increased from the previous year to about 27.36 trillion U.S. dollars. This increase in GDP can be attributed to a continued rebound from the impact of the coronavirus pandemic. Gross domestic product (GDP) refers to the market value of all goods and services produced within a country. In 2023, the United States has the largest economy in the world. See, for example, the Russian GDP for comparison.

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.

The Gross Domestic Product (GDP) in China expanded 1.60 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides - China GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The gross domestic product (GDP) growth rate of all major economies included except China was negative in 2020 following the COVID-19 pandemic. Growth rates were positive again in 2021, but stagnated in some countries in 2023 amid high inflation rates. What does GDP measure? GDP is the sum of all consumption, investment, government spending, and net exports in an economy. As such, different things drive the growth of each of these countries. Germany benefits from a high value of net exports, also known as its trade balance. Drawbacks of GDP growth as a metric GDP measures growth, but it does not capture welfare gains correctly in many cases. For example, carbon dioxide emissions often go hand in hand with a growing GDP. These emissions are from industry, such as coal power plants, or consumption, such as driving cars, but GDP does not measure the damage from these activities. Also, national debt is not incorporated into GDP.

According to preliminary figures, the growth of real gross domestic product (GDP) in China amounted to 5.0 percent in 2024. For 2025, the IMF expects a GDP growth rate of around 4.6 percent. Real GDP growth The current gross domestic product is an important indicator of the economic strength of a country. It refers to the total market value of all goods and services that are produced within a country per year. When analyzing year-on-year changes, the current GDP is adjusted for inflation, thus making it constant. Real GDP growth is regarded as a key indicator for economic growth as it incorporates constant GDP figures. As of 2023, China was among the leading countries with the largest gross domestic product worldwide, second only to the United States which had a GDP volume of almost 27.5 trillion U.S. dollars. The Chinese GDP has shown remarkable growth over the past years. Upon closer examination of the distribution of GDP across economic sectors, a gradual shift from an economy heavily based on industrial production towards an economy focused on services becomes visible, with the service industry outpacing the manufacturing sector in terms of GDP contribution. Key indicator balance of trade Another important indicator for economic assessment is the balance of trade, which measures the relationship between imports and exports of a nation. As an economy heavily reliant on manufacturing and industrial production, China has reached a trade surplus over the last decade, with a total trade balance of around 823 billion U.S. dollars in 2023.

The Swedish gross domestic product (GDP) experienced a recession due to the outbreak of the coronavirus (COVID-19) in 2020, falling by 1.7 percent that year. However, in 2021, the GDP grew by nearly six percent and continued to grow in 2022, albeit at a slower pace.

The Gross Domestic Product (GDP) in the United States was worth 27720.71 billion US dollars in 2023, according to official data from the World Bank. The GDP value of the United States represents 26.29 percent of the world economy. This dataset provides - United States GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the GDP of the United States increased by about 2.5 percent compared to the previous year. This comes amid high nflation rates globally, and countries such as Argentina and Germany even experiencing economic decline. 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 to measure the economic strength of a country.

This dataset contains World GDP (constant 2010 US$), World GDP Growth. Data from The World Bank. Follow datasource.kapsarc.org for timely data to advance energy economics research.

The Gross Domestic Product (GDP) in Ukraine expanded 0.20 percent in the second quarter of 2024 over the previous quarter. This dataset provides - Ukraine GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Saudi Arabia Real GDP Growth

• The Gross Domestic Product (GDP) in Saudi Arabia contracted 3.7 % YoY in Dec 2023, following a negative growth of 4.4 % in the previous quarter.
• Real GDP Growth YoY data in Saudi Arabia is updated quarterly, available from Mar 2011 to Dec 2023, with an average rate of 2.8 %.
• The data reached an all-time high of 14.6 % in Sep 2011 and a record low of -7.4 % in Jun 2020.

General Authority for Statistics provides quarterly Real GDP Growth at 2010 prices.


Related information about Saudi Arabia Real GDP Growth

• In the latest reports, Nominal GDP of Saudi Arabia reached 267.9 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) fell 1.0 % in Mar 2023.
• GDP Per Capita in Saudi Arabia reached 34,441.1 USD in Dec 2022.
• Its Gross Savings Rate was measured at 37.4 % in Mar 2024.
• For Nominal GDP contributions, Investment accounted for 30.7 % in Mar 2023.
• Public Consumption accounted for 22.3 % in Mar 2024.
• Private Consumption accounted for 40.3 % in Mar 2024.

Key information about Kenya Real GDP Growth

• The Gross Domestic Product (GDP) in Kenya expanded 5.2 % YoY in Sep 2022, following a growth of 5.3 % in the previous quarter.
• Real GDP Growth YoY data in Kenya is updated quarterly, available from Mar 2010 to Sep 2022, with an average rate of 5.4 %.
• The data reached an all-time high of 13.6 % in Mar 2011 and a record low of -4.1 % in Jun 2020.

CEIC calculates quarterly Real GDP Growth from quarterly Real GDP. The Kenya National Bureau of Statistics provides Real GDP in local currency, at 2016 prices. Real GDP Growth prior to Q1 2017 is calculated from Real GDP at 2009 prices.


Related information about Kenya Real GDP Growth

• In the latest reports, Nominal GDP of Kenya reached 26.9 USD bn in Sep 2022.
• Its GDP deflator (implicit price deflator) increased 4.0 % in Sep 2022.
• GDP Per Capita in Kenya reached 2,236.0 USD in Dec 2021.
• Its Gross Savings Rate was measured at 13.3 % in Dec 2021.
• For Nominal GDP contributions, Investment accounted for 20.3 % in Dec 2021.
• Public Consumption accounted for 12.1 % in Dec 2021.
• Private Consumption accounted for 74.6 % in Dec 2021.

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.

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.

The Gross Domestic Product (GDP) in Spain expanded 0.80 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides the latest reported value for - Spain GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Explore the growth rate of Gross Domestic Product (GDP) by institutional sectors in Saudi Arabia, including the Non-Oil Sector, Government Sector, and Private Sector. Access comprehensive GDP data and analysis to understand the economic landscape of Saudi Arabia.

Non-Oil Sector, Gross Domestic product, Gross Domestic Product Excluding Net Taxes on Products, Net Taxes on Products, Government Sector, Oil Sector, Private Sector, GDP, National Accounts, GDP data

Saudi ArabiaFollow data.kapsarc.org for timely data to advance energy economics research..2021 Data is Preliminary

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.

Key information about Ghana Real GDP Growth

• The Gross Domestic Product (GDP) in Ghana expanded 1.7 % YoY in Sep 2024, following a growth of 1.6 % in the previous quarter.
• Real GDP Growth YoY data in Ghana is updated quarterly, available from Jun 2006 to Sep 2024, with an average rate of 1.4 %.
• The data reached an all-time high of 4.9 % in Jun 2006 and a record low of -1.3 % in Jun 2020.

CEIC calculates quarterly Real GDP Growth from quarterly Real GDP. Ghana Statistical Service provides Real GDP in local currency, at chain linked 2013 prices. Real GDP Growth prior to Q1 2007 is calculated from Real GDP based on SNA 1993, at 2006 prices.


Related information about Ghana Real GDP Growth

• In the latest reports, Nominal GDP of Ghana reached 17.8 USD bn in Sep 2024.
• Its GDP deflator (implicit price deflator) increased 20.7 % in Jun 2024.
• GDP Per Capita in Ghana reached 2,353.0 USD in Dec 2022.
• Its Gross Savings Rate was measured at 9.9 % in Dec 2023.
• For Nominal GDP contributions, Investment accounted for 10.8 % in Dec 2023.
• Public Consumption accounted for 5.9 % in Dec 2023.
• Private Consumption accounted for 84.2 % in Dec 2023.

Greenland GL: GDP: Growth: Final Consumption Expenditure: General Government data was reported at 3.514 % in 2016. This records an increase from the previous number of -0.399 % for 2015. Greenland GL: GDP: Growth: Final Consumption Expenditure: General Government data is updated yearly, averaging 0.975 % from Dec 2004 (Median) to 2016, with 13 observations. The data reached an all-time high of 5.961 % in 2008 and a record low of -2.473 % in 2010. Greenland GL: GDP: Growth: Final Consumption Expenditure: General Government data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Greenland – Table GL.World Bank: Gross Domestic Product: Annual Growth Rate. Annual percentage growth of general government final consumption expenditure based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. General government final consumption expenditure (general government consumption) includes all government current expenditures for purchases of goods and services (including compensation of employees). It also includes most expenditures on national defense and security, but excludes government military expenditures that are part of government capital formation.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

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.

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.