The Gross Domestic Product (GDP) in the United States contracted 0.50 percent in the first 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.

U.S. gdp growth rate for 2023 was 2.89%, a 0.38% increase from 2022.

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

<li>U.S. gdp growth rate for 2022 was <strong>2.51%</strong>, a <strong>3.54% decline</strong> from 2021.</li>
<li>U.S. gdp growth rate for 2021 was <strong>6.06%</strong>, a <strong>8.22% increase</strong> from 2020.</li>
<li>U.S. gdp growth rate for 2020 was <strong>-2.16%</strong>, a <strong>4.75% 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.

The Gross Domestic Product (GDP) in the United States expanded 2 percent in the first quarter of 2025 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 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.

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.

Full Year GDP Growth in the United States decreased to 2.80 percent in 2024 from 2.90 percent in 2023. This dataset includes a chart with historical data for the United States Full Year GDP Growth.

World gdp growth rate for 2023 was 2.83%, a 0.4% decline from 2022.

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

<li>World gdp growth rate for 2022 was <strong>3.24%</strong>, a <strong>3.11% decline</strong> from 2021.</li>
<li>World gdp growth rate for 2021 was <strong>6.35%</strong>, a <strong>9.23% increase</strong> from 2020.</li>
<li>World gdp growth rate for 2020 was <strong>-2.88%</strong>, a <strong>5.55% 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.

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 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.

During the "Golden Age of Capitalism", from 1950 to 1973, GDP grew by annual averages of just under five percent in Western Europe*, four percent in the U.S., and ten percent in Japan. This period of prosperity came to an end with the recession of 1973-1975, however GDP growth rates did not return to their previous levels when the recession ended, as growth was fairly sporadic in the 1970s and then much slower throughout the 1980s. From 1973 to 1987, GDP grew annually at just two fifth of the Golden Age's rate in Europe and Japan, while the U.S.' annual rates were somewhat closer.

One major difference between the two given periods was that the U.S. was the dominant and most influential economy of all developed (non-communist) countries in the 1950s and 1960s, however, the 1970s and 1980s saw Japan and the European Communities (led by West Germany and France) emerge as major economic powers in their own right. While the U.S. remained the most powerful country in the world, other developed nations became more economically autonomous, and began asserting their own influence internationally.

China gdp growth rate for 2023 was 5.20%, a 2.21% increase from 2022.

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

<li>China gdp growth rate for 2022 was <strong>2.99%</strong>, a <strong>5.46% decline</strong> from 2021.</li>
<li>China gdp growth rate for 2021 was <strong>8.45%</strong>, a <strong>6.21% increase</strong> from 2020.</li>
<li>China gdp growth rate for 2020 was <strong>2.24%</strong>, a <strong>3.71% 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.

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

Historical chart and dataset showing Morocco gdp growth rate by year from 1967 to 2023.

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.

During the post-war economic boom, between the Second World War and the 1970s' recession, virtually all areas of Europe experienced significant economic growth. While this period is known as the "Golden Age of Capitalism" in Western Europe, communist countries in Eastern Europe (with socialist economic systems) generally experienced higher GDP growth rates in the 1950s and 1960s. Although most of these economies entered the period at a much less-developed stage than the likes of Britain, France, or West Germany, the Soviet model proved to be an economic success in these decades. Controlling the means of production The transition to communism across Eastern Europe saw the nationalization of most industries, as governments took control of the means of production in their respective countries. As much of Eastern Europe entered the period with relatively-low levels of industrialization compared to the west, this meant that governments could dictate the development of their manufacturing and retail industries. By the end of the 1960s, state-owned endeavors in Eastern Europe were responsible for over 95 percent of national income. Problems did arise, however, when states attempted to take control of the agricultural sector, as many of the families who owned the land were unwilling to part with it. Agriculture proved to be the only major industry not mostly owned by the state during Eastern Europe's communist era; in the long term, agriculture suffered due to the lack of government investment in such state-run economic systems. Variations There is a correlation between the sides taken during the Second World War and the speed of economic growth in each decade; the Allied nations of Czechoslovakia, Poland, the Soviet Union and Yugoslavia all experienced faster economic growth in the 1950s; whereas the Axis nations of Bulgaria, Hungary, and Romania saw faster growth in the 1960s. East Germany was the exception to this rule, as its economy was much more developed than other former-Axis powers. The speed of recovery in these countries was the largest contributor to variations in growth rates, although regional variations in governance did influence development in later years (particularly in Yugoslavia).

Historical chart and dataset showing Ukraine gdp growth rate by year from 1988 to 2023.

The Gross Domestic Product (GDP) in Russia expanded 1.40 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - Russia GDP Annual 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 Georgia Real GDP Growth

• The Gross Domestic Product (GDP) in Georgia expanded 9.7 % YoY in Dec 2022, following a growth of 9.8 % in the previous quarter.
• Real GDP Growth YoY data in Georgia is updated quarterly, available from Mar 1998 to Dec 2022, with an average rate of 5.3 %.
• The data reached an all-time high of 28.8 % in Jun 2021 and a record low of -14.5 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. The National Statistics Office of Georgia provides Real GDP in local currency, at chain linked 2015 prices based on SNA 2008. Real GDP Growth prior to Q1 2011 is calculated from Real GDP at chain linked 2010 prices based on SNA 1993 and prior to Q1 2004 is calculated from Real GDP at chain linked 1996 prices.


Related information about Georgia Real GDP Growth

• In the latest reports, Nominal GDP of Georgia reached 7.5 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 10.0 % in Dec 2022.
• GDP Per Capita in Georgia reached 6,671.9 USD in Dec 2022.
• Its Gross Savings Rate was measured at 25.7 % in Sep 2022.
• For Nominal GDP contributions, Investment accounted for 18.0 % in Sep 2022.
• Public Consumption accounted for 11.1 % in Sep 2022.
• Private Consumption accounted for 70.8 % in Sep 2022.

In 2024, the growth of the real gross domestic product (GDP) in Portugal amounted to approximately 1.93 percent. Between 1980 and 2024, the figure dropped by around 4.80 percentage points, though the decline followed an uneven course rather than a steady trajectory. The growth is forecast to decline by about 0.28 percentage points from 2024 to 2030, fluctuating as it trends downward.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.