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.

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.

This dataset provides values for GDP ANNUAL GROWTH RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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 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.

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.

Key information about Canada Real GDP Growth

• The Gross Domestic Product (GDP) in Canada expanded 2.1 % YoY in Dec 2022, following a growth of 3.8 % in the previous quarter.
• Real GDP Growth YoY data in Canada is updated quarterly, available from Mar 1962 to Dec 2022, with an average rate of 3.1 %.
• The data reached an all-time high of 12.1 % in Jun 2021 and a record low of -12.2 % in Jun 2020.

• In the latest reports, Nominal GDP of Canada reached 513.5 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 4.2 % in Dec 2022.
• GDP Per Capita in Canada reached 54,104.3 USD in Jun 2022.
• Its Gross Savings Rate was measured at 23.4 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 23.1 % in Dec 2022.
• Public Consumption accounted for 21.0 % in Dec 2022.
• Private Consumption accounted for 55.6 % in Dec 2022.

Key information about Albania Real GDP Growth

• The Gross Domestic Product (GDP) in Albania expanded 4.7 % YoY in Dec 2022, following a growth of 4.9 % in the previous quarter.
• Real GDP Growth YoY data in Albania is updated quarterly, available from Mar 2010 to Dec 2022, with an average rate of 3.1 %.
• The data reached an all-time high of 18.5 % in Jun 2021 and a record low of -11.2 % in Jun 2020.

• In the latest reports, Nominal GDP of Albania reached 4.9 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 10.3 % in Dec 2022.
• GDP Per Capita in Albania reached 6,376.1 USD in Dec 2021.
• Its Gross Savings Rate was measured at 19.3 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 30.2 % in Dec 2022.
• Public Consumption accounted for 11.0 % in Dec 2022.
• Private Consumption accounted for 69.7 % in Dec 2022.

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.

• 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.

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.

• 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.

Key information about Norway Real GDP Growth

• The Gross Domestic Product (GDP) in Norway expanded 1.8 % YoY in Dec 2022, following a growth of 2.3 % in the previous quarter.
• Real GDP Growth YoY data in Norway is updated quarterly, available from Mar 1979 to Dec 2022, with an average rate of 2.3 %.
• The data reached an all-time high of 10.7 % in Mar 1980 and a record low of -5.3 % in Jun 2020.

• In the latest reports, Nominal GDP of Norway reached 133.7 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 10.2 % in Dec 2022.
• GDP Per Capita in Norway reached 89,114.7 USD in Dec 2021.
• Its Gross Savings Rate was measured at 45.6 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 22.4 % in Dec 2022.
• Public Consumption accounted for 18.8 % in Dec 2022.
• Private Consumption accounted for 35.6 % in Dec 2022.

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 ***** percent in 2020. However, the following year, the GDP of these countries grew by over *** percent. It continued to grow in the following years, albeit at a slower pace, and is forecast to continue to do so in 2025 and 2026.For more information about the economic impact of the COVID-19 pandemic on the global economy, please check out our dedicated topic page.

Historical chart and dataset showing Poland gdp growth rate by year from 1991 to 2023.

Key information about United States Real GDP Growth

• The Gross Domestic Product (GDP) in United States expanded 1.6 % YoY in Mar 2023, following a growth of 0.9 % in the previous quarter.
• Real GDP Growth YoY data in US is updated quarterly, available from Mar 1948 to Mar 2023, with an average rate of 3.0 %.
• The data reached an all-time high of 13.4 % in Dec 1950 and a record low of -8.4 % in Jun 2020.

• In the latest reports, Nominal GDP of US reached 6,621.6 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 5.4 % in Mar 2023.
• GDP Per Capita in US reached 59,484.0 USD in Dec 2017.
• Its Gross Savings Rate was measured at 15.9 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 20.7 % in Mar 2023.
• Public Consumption accounted for 14.1 % in Mar 2023.
• Private Consumption accounted for 67.9 % in Mar 2023.

Canada gdp growth rate for 2023 was 1.25%, a 2.57% decline from 2022.

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

<li>Canada gdp growth rate for 2022 was <strong>3.82%</strong>, a <strong>1.47% decline</strong> from 2021.</li>
<li>Canada gdp growth rate for 2021 was <strong>5.29%</strong>, a <strong>10.33% increase</strong> from 2020.</li>
<li>Canada gdp growth rate for 2020 was <strong>-5.04%</strong>, a <strong>6.95% 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.

Context

This dataset contains annual GDP growth for each country.

Content

This dataset contains data about 264 countries. There is some missing data for several countries. Format of data: .csv

Column names and description: - "Country Name" - name of country - "Country Code" - code of country (3 letters) - "Indicator Name" - all fields filled with 'GDP (current US$)' - "Indicator Code" - all fields contains 'NY.GDP.MKTP.CD' value - Colums for each year (1960 - 2020)

Acknowledgements

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.

World Bank national accounts data, and OECD National Accounts data files. Source of data: https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG

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 statistic shows the growth rate of the real gross domestic product (GDP) in the United States from 2020 to 2024, with projections up until 2030. 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 of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2024, the growth of the real gross domestic product in the United States was around 2.8 percent compared to the previous year. See U.S. GDP per capita and the US GDP for more information. Real gross domestic product (GDP) of the United States The gross domestic product (GDP) of a country is a crucial economic indicator, representing the market value of the total goods and services produced and offered by a country within a year, thus serving as one of the indicators of a country’s economic state. The real GDP of a country is defined as its gross domestic product adjusted for inflation. An international comparison of economic growth rates has ranked the United States alongside other major global economic players such as China and Russia in terms of real GDP growth. With further growth expected during the course of the coming years, as consumer confidence continues to improve, experts predict that the worst is over for the United States economy. A glance at US real GDP figures reveals an overall increase in growth, with sporadic slips into decline; the last recorded decline took place in Q1 2011. All in all, the economy of the United States can be considered ‘well set’, with exports and imports showing positive results. Apart from this fact, the United States remains one of the world’s leading exporting countries, having been surpassed only by China and tailed by Germany. It is also ranked first among the top global importers. Despite this, recent surveys revealing Americans’ assessments of the U.S. economy have yielded less optimistic results. Interestingly enough, this consensus has been mutual across the social and environmental spectrum. On the other hand, GDP is often used as an indicator for the standard of living in a country – and most Americans seem quite happy with theirs.

The Gross Domestic Product (GDP) in Japan stagnated 0 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Japan GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Mexico Real GDP Growth

• The Gross Domestic Product (GDP) in Mexico expanded 3.7 % YoY in Dec 2022, following a growth of 4.4 % in the previous quarter.
• Real GDP Growth YoY data in Mexico is updated quarterly, available from Mar 1981 to Dec 2022, with an average rate of 2.7 %.
• The data reached an all-time high of 19.3 % in Jun 2021 and a record low of -18.8 % in Jun 2020.

• In the latest reports, Nominal GDP of Mexico reached 372.0 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.5 % in Dec 2022.
• GDP Per Capita in Mexico reached 10,927.3 USD in Dec 2022.
• Its Gross Savings Rate was measured at 20.0 % in Sep 2022.
• For Nominal GDP contributions, Investment accounted for 21.9 % in Sep 2022.
• Public Consumption accounted for 11.3 % in Sep 2022.
• Private Consumption accounted for 68.7 % in Sep 2022.