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.

As of the third quarter of 2024, the GDP of the U.S. grew by 2.8 percent from the second 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.

Adding to national debt is an inevitable fact of being President of the United States. The extent to which debt rises under any sitting president depends not only on the policy and spending choices they have made, but also the choices made by presidents and congresses that have come before them. Ronald Reagan and George W. Bush President Ronald Reagan increased the U.S. debt by around **** trillion U.S. dollars, or ****** percent. This is often attributed to "Reaganomics," in which Reagan implemented significant supply-side economic policies in which he reduced government regulation, cut taxes, and tightened the money supply. Spending increased under President George W. Bush in light of the wars in Iraq and Afghanistan. To finance the wars, President Bush chose to borrow the money, rather than use war bonds or increase taxes, unlike previous war-time presidents. Additionally, Bush introduced a number of tax cuts, and oversaw the beginning of the 2008 financial crisis. Barack Obama President Obama inherited both wars in Iraq and Afghanistan, and the financial crisis. The Obama administration also did not increase taxes to pay for the wars, and additionally passed expensive legislation to kickstart the economy following the economic crash, as well as the Affordable Care Act in 2010. The ACA expanded healthcare coverage to cover more than ** million more Americans through programs like Medicare and Medicaid. Though controversial at the time, more than half of Americans have a favorable view of the ACA in 2023. Additionally, he signed legislation making the W. Bush-era tax cuts permanent.

The Gross Domestic Product (GDP) in Mexico expanded 0.80 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - Mexico GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The United States recorded a Government Debt to GDP of 124.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This data package includes the underlying data to replicate the charts and calculations presented in The International Economic Implications of a Second Trump Presidency, PIIE Working Paper 24-20.

If you use the data, please cite as:

McKibbin, Warwick, Megan Hogan, and Marcus Noland. 2024. The International Economic Implications of a Second Trump Presidency. PIIE Working Paper 24-20. Washington: Peterson Institute for International Economics.

This data package includes the underlying data to replicate the charts, tables, and calculations presented in The US Revenue Implications of President Trump’s 2025 Tariffs, PIIE Briefing 25-2.

If you use the data, please cite as:

McKibbin, Warwick, and Geoffrey Shuetrim. 2025. The US Revenue Implications of President Trump’s 2025 Tariffs. PIIE Briefing 25-2. Washington: Peterson Institute for International Economics.

Graph and download economic data for Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSGDA188S) from 1929 to 2024 about budget, federal, GDP, and USA.

The Gross Domestic Product (GDP) in Philippines expanded 5.40 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - Philippines GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Iran’s gross domestic product (GDP) inclined by 3.33 percent in 2020 after adjusting for inflation. This figure fell from 13.4 percent growth four years ago, which had been a reaction to sanctions lifting after the Joint Comprehensive Plan of Action (JPCOA) regarding Iran’s nuclear program. United States president Donald Trump ended that country’s participation in the deal, imposing new sanctions.

Political influence on the economy

Political tensions have hampered the economy of Iran, keeping growth low in spite of the country’s considerable oil reserves. The effect of these sanctions becomes obvious when looking at Iran’s oil exports to Europe over the past decade. Some analysts have blamed the new sanctions for the increase in Iran’s inflation rate, as well as the currency depreciation that has accompanied it.

Iran’s options

Although Iran’s main export partners are largely in Asia, many of the transactions are carried out using U.S. dollars. Even though other means of payment are possible, some countries worry about political ramifications of continuing trade relations with Iran. Iran’s greatest strength at the moment may be its low national debt, meaning that it can borrow a substantial amount of money if it can find a willing lender. However, given the instability of the political situation worldwide and regionally, it is difficult to assume that such a borrower exists at the moment.

Interactive chart of historical data comparing the level of gross domestic product (GDP) with Federal Debt.

During the period beginning roughly in the mid-1980s until the Global Financial Crisis (2007-2008), the U.S. economy experienced a time of relative economic calm, with low inflation and consistent GDP growth. Compared with the turbulent economic era which had preceded it in the 1970s and the early 1980s, the lack of extreme fluctuations in the business cycle led some commentators to suggest that macroeconomic issues such as high inflation, long-term unemployment and financial crises were a thing of the past. Indeed, the President of the American Economic Association, Professor Robert Lucas, famously proclaimed in 2003 that "central problem of depression prevention has been solved, for all practical purposes". Ben Bernanke, the future chairman of the Federal Reserve during the Global Financial Crisis (GFC) and 2022 Nobel Prize in Economics recipient, coined the term 'the Great Moderation' to describe this era of newfound economic confidence. The era came to an abrupt end with the outbreak of the GFC in the Summer of 2007, as the U.S. financial system began to crash due to a downturn in the real estate market.

Causes of the Great Moderation, and its downfall

A number of factors have been cited as contributing to the Great Moderation including central bank monetary policies, the shift from manufacturing to services in the economy, improvements in information technology and management practices, as well as reduced energy prices. The period coincided with the term of Fed chairman Alan Greenspan (1987-2006), famous for the 'Greenspan put', a policy which meant that the Fed would proactively address downturns in the stock market using its monetary policy tools. These economic factors came to prominence at the same time as the end of the Cold War (1947-1991), with the U.S. attaining a new level of hegemony in global politics, as its main geopolitical rival, the Soviet Union, no longer existed. During the Great Moderation, the U.S. experienced a recession twice, between July 1990 and March 1991, and again from March 2001 tom November 2001, however, these relatively short recessions did not knock the U.S. off its growth path. The build up of household and corporate debt over the early 2000s eventually led to the Global Financial Crisis, as the bursting of the U.S. housing bubble in 2007 reverberated across the financial system, with a subsequent credit freeze and mass defaults.

Since 1980, Europe's largest economies have consistently been France, Germany, Italy, Spain, and the United Kingdom, although the former Soviet Union's economy was the largest in the 1980s, and Russia's economy has been larger than Spain's since 2010. Since Soviet dissolution, Germany has always had the largest economy in Europe, while either France or the UK has had the second largest economy depending on the year. Italy's economy was of a relatively similar size to that of the UK and France until the mid-2000s when it started to diverge, resulting in a difference of approximately 800 billion U.S dollars by 2018. Russia's economy had overtaken both Italy and Spain's in 2012, but has fallen since 2014 due to the drop in international oil prices and the economic sanctions imposed for its annexation of Crimea - economic growth is expected to be comparatively low in Russia in the coming years due to the economic fallout of its invasion of Ukraine in 2022. In 2025, Germany, now the world's third-largest economy, was estimated at over *** trillion U.S. dollars.

This table contains key information about Chad’s government. It contains Chad’s core political and economic data through an informative table detailing key indicators, such as population, GDP, government structure, Age of President, President’s tenure, if the country is actively in a military regime, and democracy metrics.

Over the course of their first terms in office, no U.S. president in the past 100 years saw as much of a decline in stock prices as Herbert Hoover, and none saw as much of an increase as Franklin D. Roosevelt (FDR) - these were the two presidents in office during the Great Depression. While Hoover is not generally considered to have caused the Wall Street Crash in 1929, less than a year into his term in office, he is viewed as having contributed to its fall, and exacerbating the economic collapse that followed. In contrast, Roosevelt is viewed as overseeing the economic recovery and restoring faith in the stock market played an important role in this.

By the end of Hoover's time in office, stock prices were 82 percent lower than when he entered the White House, whereas prices had risen by 237 percent by the end of Roosevelt's first term. While this is the largest price gain of any president within just one term, it is important to note that stock prices were valued at 317 on the Dow Jones index when Hoover took office, but just 51 when FDR took office four years later - stock prices had peaked in August 1929 at 380 on the Dow Jones index, but the highest they ever reached under FDR was 187, and it was not until late 1954 that they reached pre-Crash levels once more.

This dataset looks at the number of Brazilian municipalities where mining is a key economic activity and those where mining is a key job provider. We also listed municipalities that have mining as both a main economic activity and the main employer in a given town. We have also generated maps to visualize the impact of mining in Brazil as a key economic activity and/or job provider. Similarly, we have listed the same information for all the municipalities that received oil royalties in 2019, and the top 100 municipalities whose wealth was mainly generated by agribusiness in 2022. By detailing the economic and employment situation in Brazilian extractive municipalities (mining, oil, and crops), we demonstrate that company towns in Brazil (locations that are highly dependent on one key economic activity for employment generation) are few. Extractive industries may no longer be labour intensive, although economic dependency may follow indirectly, such as because of tax generation. We also offer data on national elections to demonstrate that there is not a clear correlation between economic activity and voting patterns, which may be explained by low employability. The main objective of this dataset is to generate a discussion on the need to redefine company towns in Brazil. Methods The first resource used to collect the data presented here is the Annual List of Social Information – RAIS database – which provides information on employment and companies. RAIS contains social information about each employee of a given firm, such as salary, race, gender, and length of employment. This data must be provided annually by every company based in Brazil. According to the Ministry of Labour and Social Security, every establishment must provide, through the Annual Social Information List (RAIS), information regarding each of its employees, in accordance with Decree No. 10,854, of November 10, 2021. Each line in the RAIS represents a single firm. It contains information such as the number of employees per firm, the address of the firm, and the National Classification of Economic Activities (CNAE 2.0). For the year 2020, the database contains 8,196,730 lines, from all Brazilian companies that delivered information to the annual RAIS. The CNAE is a categorization system that identifies the economic activities carried out by companies in Brazil. Each economic activity is represented by a unique code, which helps with the identification and legal and fiscal framework of companies. Based on the RAIS database, in Table 1 economic activities related to the mineral extraction sector were selected, namely: Section B, codes 05 – Extraction of mineral coal; 07 – Extraction of metallic minerals; 08 – Extraction of non-metallic minerals; and 09 – Activities to support the extraction of minerals. Subsequently, in Table 2 municipalities were selected where one of the aforementioned sectors was the largest employer, measured by the percentage of employees hired in relation to the total number of employees in the municipality. Another database used to compose our dataset was the voting data of the Superior Electoral Court – Tribunal Superior Eleitoral (TSE). It contains information on the total votes per Brazilian municipality in the Brazilian general elections by all candidates who participated in the election: Federal Deputies, Senators of the Republic, State Governors, and President of the Republic. Data from the 2022 general elections, from the second round for President of the Republic, were used. Table 1 presents the municipalities where in 2020 the mining sector had the highest percentage of employment generation in relation to other economic sectors in the municipality. In total, there were 37 such municipalities, distributed across 8 Brazilian states. Then, as mentioned previously, the results were examined alongside TSE voting data. Regarding Table 2, another source of data used was Gross Domestic Product – municipal GDP 2020, published annually by the Brazilian Institute of Geography and Statistics (IBGE). In it, the Institute presents which economic activity contributes most to the municipality’s added value. Therefore, we selected the municipalities where the mining industry produces the highest added value to GDP. Table 2 presents the results: 55 Brazilian municipalities have this characteristic. Municipalities from Tables 1 and 2 have columns presenting TSE voting data. Table 3, in turn, combines Tables 1 and 2. It presents the municipalities in which mineral extraction activity is both the main employer and generates the highest added value to GDP. Maps 1, 2, and 3 plot the locations of the municipalities found in Tables 1, 2, and 3, respectively. Table 4 presents the Brazilian municipalities that received oil royalties in Brazil in 2019. Municipalities entitled to royalties are those that are in some way affected by the oil industry, the information regarding current revenues is consolidated by Secretaria do Tesouro Nacional (National Treasury of Brazil) and oil royalties’ information is provided by the Agencia Nacional do Petroleo (ANP) National Oil Agency. In addition, the voting pattern for the President of the Republic in each municipality that received royalties was also presented. Table 5 presents the 100 top Brazilian municipalities with the highest Agricultural Production Value, according to the IBGE Monthly Agricultural Production survey for the year 2020 as described by the Ministry of Agriculture. TSE voting data was added for each of those municipalities. Usage notes Company towns are usually referred to in the literature as locations highly economically dependent on the production of one company that generates most employment opportunities in a region; this economic activity therefore has major political influence in the area. Our dataset presents municipalities with strong oil, mining, and agribusiness economic presence but that is not always followed by employment generation. From this data, users can see that economic markers such as GDP and employment creation indicate a company town pattern in Brazil where income generation and direct employment are not strongly correlated. Thus, the dominant economic activity in those towns does not determine electoral results.

Graph and download economic data for Federal Surplus or Deficit - from 1901 to 2024 about budget, federal, and USA.

Gross domestic product (GDP) of Venezuela fell to 43.79 billion U.S. dollars in 2020, down from a 2012 peak of 372.59 U.S. dollars.

Venezuela’s economic capacity

Venezuela is famously the country with the largest oil reserves. However, mismanagement of the economy has led to several economic problems. Most notably, inflation has gotten out of control and has turned into hyperinflation. This represents a complete breakdown in people’s faith in the currency and, to a similar extent, the entire financial system.

The Maduro Diet

President Nicolás Maduro has largely been blamed for the economic situation in Venezuela. Many people have lost weight due to food shortages, which critics refer to as the “Maduro Diet”. In early 2019, opposition leader Juan Guaido declared the Maduro administration illegitimate, plunging the country into a constitutional crisis that divided the diplomatic world. Regardless of the outcome, Venezuela will still have to deal with high inflation, growing national debt, and challenges in infrastructure.

The Federal Reserve's balance sheet has undergone significant changes since 2007, reflecting its response to major economic crises. From a modest *** trillion U.S. dollars at the end of 2007, it ballooned to approximately **** trillion U.S. dollars by June 2025. This dramatic expansion, particularly during the 2008 financial crisis and the COVID-19 pandemic - both of which resulted in negative annual GDP growth in the U.S. - showcases the Fed's crucial role in stabilizing the economy through expansionary monetary policies. Impact on inflation and interest rates The Fed's expansionary measures, while aimed at stimulating economic growth, have had notable effects on inflation and interest rates. Following the quantitative easing in 2020, inflation in the United States reached ***** percent in 2022, the highest since 1991. However, by *************, inflation had declined to *** percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at **** percent in ***********, before the first rate cut since ************** occurred in **************. Financial implications for the Federal Reserve The expansion of the Fed's balance sheet and subsequent interest rate hikes have had significant financial implications. In 2023, the Fed reported a negative net income of ***** billion U.S. dollars, a stark contrast to the ***** billion U.S. dollars profit in 2022. This unprecedented shift was primarily due to rapidly rising interest rates, which caused the Fed's interest expenses to soar to over *** billion U.S. dollars in 2023. Despite this, the Fed's net interest income on securities acquired through open market operations reached a record high of ****** billion U.S. dollars in the same year.