100+ datasets found
  1. U.S. real per capita GDP 2023, by state

    • statista.com
    Updated Jul 5, 2024
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    Statista (2024). U.S. real per capita GDP 2023, by state [Dataset]. https://www.statista.com/statistics/248063/per-capita-us-real-gross-domestic-product-gdp-by-state/
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    Dataset updated
    Jul 5, 2024
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    2023
    Area covered
    United States
    Description

    Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2023, at 90,730 U.S. dollars, followed closely by Massachusetts. Mississippi had the lowest per-capita real GDP, at 39,102 U.S. dollars. While not a state, the District of Columbia had a per capita GDP of more than 214,000 U.S. dollars. What is real GDP? A country’s real GDP is a measure that shows the value of the goods and services produced by an economy and is adjusted for inflation. The real GDP of a country helps economists to see the health of a country’s economy and its standard of living. Downturns in GDP growth can indicate financial difficulties, such as the financial crisis of 2008 and 2009, when the U.S. GDP decreased by 2.5 percent. The COVID-19 pandemic had a significant impact on U.S. GDP, shrinking the economy 2.8 percent. The U.S. economy rebounded in 2021, however, growing by nearly six percent. Why real GDP per capita matters Real GDP per capita takes the GDP of a country, state, or metropolitan area and divides it by the number of people in that area. Some argue that per-capita GDP is more important than the GDP of a country, as it is a good indicator of whether or not the country’s population is getting wealthier, thus increasing the standard of living in that area. The best measure of standard of living when comparing across countries is thought to be GDP per capita at purchasing power parity (PPP) which uses the prices of specific goods to compare the absolute purchasing power of a countries currency.

  2. United States GDP per Capita

    • ceicdata.com
    Updated Apr 15, 2023
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    CEICdata.com (2023). United States GDP per Capita [Dataset]. https://www.ceicdata.com/en/indicator/united-states/gdp-per-capita
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    Dataset updated
    Apr 15, 2023
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 1, 2006 - Dec 1, 2017
    Area covered
    United States
    Variables measured
    Gross National Income
    Description

    Key information about United States GDP Per Capita

    • United States Gross Domestic Product (GDP) per Capita reached 59,484.000 USD in Dec 2017, compared with 57,542.000 USD in Dec 2016.
    • US GDP Per Capita data is updated yearly, available from Dec 1929 to Dec 2017, with an average number of 6,740.000 USD.
    • The data reached an all-time high of 59,484.000 USD in Dec 2017 and a record low of 455.000 in Dec 1933.


    Related information about United States GDP Per Capita data

    • In the latest reports, US GDP expanded 1.800 % YoY in Mar 2023.
    • US Nominal GDP reached 6,632.444 USD bn in Mar 2023.
    • Its GDP deflator (implicit price deflator) increased 5.336 % in Mar 2023.
    • Gross Savings Rate of US was measured at 16.000 % in Mar 2023.

  3. U.S. real GDP per capita 2021, by metro area

    • statista.com
    Updated Jul 5, 2024
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    Statista (2024). U.S. real GDP per capita 2021, by metro area [Dataset]. https://www.statista.com/statistics/248112/per-capita-us-real-gross-domestic-product-gdp-by-metro-area/
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    Dataset updated
    Jul 5, 2024
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    2021
    Area covered
    United States
    Description

    In 2021, Midland metropolitan area in Texas had a per capita real GDP of about 227,765 chained U.S. dollars, the highest of any metro area in the United States. The San-Jose-Sunnyvale-Santa Clara and San Francisco-Oakland-Berkely metro areas in California also had high real GDP per capita. The Seattle-Tacoma-Bellevue metro area in Washington state and the Trenton-Princeton metro area in New Jersey round out the top five. Only the top 100 metro areas by GDP per capita are shown here.

  4. F

    Constant GDP per capita for the United States

    • fred.stlouisfed.org
    json
    Updated Dec 17, 2024
    + more versions
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    Constant GDP per capita for the United States [Dataset]. https://fred.stlouisfed.org/series/NYGDPPCAPKDUSA
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    jsonAvailable download formats
    Dataset updated
    Dec 17, 2024
    License

    https://fred.stlouisfed.org/legal/#copyright-public-domainhttps://fred.stlouisfed.org/legal/#copyright-public-domain

    Area covered
    United States
    Description

    Graph and download economic data for Constant GDP per capita for the United States (NYGDPPCAPKDUSA) from 1960 to 2023 about per capita, real, GDP, and USA.

  5. Gross domestic product (GDP) per capita in the United States 2029

    • statista.com
    Updated Nov 29, 2024
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    Statista (2024). Gross domestic product (GDP) per capita in the United States 2029 [Dataset]. https://www.statista.com/statistics/263601/gross-domestic-product-gdp-per-capita-in-the-united-states/
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    Dataset updated
    Nov 29, 2024
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United States
    Description

    The statistic shows the gross domestic product (GDP) per capita in the United States from 1987 to 2023, with projections up until 2029. In 2023, the gross domestic product per capita in the United States amounted to around 81,632.25 U.S. dollars. Thus, the United States is one of the countries with the largest GDP per capita worldwide. See the U.S. GDP growth rate here and the US GDP for further information. For comparison, per capita GDP in China had reached about 5,553 U.S. dollars in 2011.

    Gross domestic product of the United States

    The gross domestic product (GDP) of a country is an economic key figure, as it represents the market value of goods and services produced in a country within one year. The United States’ GDP) is increasing consistently, and it is expected to continue growing. On a global scale, the U.S. share of GDP adjusted for Purchasing Power Parity has been in the range of 20 percent over the last few years, give or take a few percentage points. The United States has the largest GDP worldwide, with a significant lead over China, Japan and Germany. Gross domestic product per capita is annual GDP divided by the average population from the same year, which allows for a GDP calculation per inhabitant of a country. Thus, a country with a high GDP, like the United States, can still have a low GDP per capita. Consequently, if compared to other countries, the United States does not rank among the top ten on this list .

  6. M

    U.S. GDP Per Capita 1960-2025

    • macrotrends.net
    csv
    Updated Feb 28, 2025
    + more versions
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    MACROTRENDS (2025). U.S. GDP Per Capita 1960-2025 [Dataset]. https://www.macrotrends.net/global-metrics/countries/usa/united-states/gdp-per-capita
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    csvAvailable download formats
    Dataset updated
    Feb 28, 2025
    Dataset authored and provided by
    MACROTRENDS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 31, 1960 - Mar 14, 2025
    Area covered
    United States
    Description

    GDP per capita is gross domestic product divided by midyear population. 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. Data are in current U.S. dollars.

  7. F

    Real GDP per Capita in the United States (DISCONTINUED)

    • fred.stlouisfed.org
    json
    Updated Dec 10, 2012
    + more versions
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    (2012). Real GDP per Capita in the United States (DISCONTINUED) [Dataset]. https://fred.stlouisfed.org/graph/?g=rAF
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    jsonAvailable download formats
    Dataset updated
    Dec 10, 2012
    License

    https://fred.stlouisfed.org/legal/#copyright-public-domainhttps://fred.stlouisfed.org/legal/#copyright-public-domain

    Area covered
    United States
    Description

    Graph and download economic data for Real GDP per Capita in the United States (DISCONTINUED) from 1960 to 2011 about per capita, real, GDP, and USA.

  8. U

    United States US: GDP: per Capita

    • ceicdata.com
    Updated Feb 15, 2025
    + more versions
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    CEICdata.com (2025). United States US: GDP: per Capita [Dataset]. https://www.ceicdata.com/en/united-states/gross-domestic-product-nominal/us-gdp-per-capita
    Explore at:
    Dataset updated
    Feb 15, 2025
    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 1, 2005 - Dec 1, 2016
    Area covered
    United States
    Variables measured
    Gross Domestic Product
    Description

    United States US: GDP: per Capita data was reported at 59,531.662 USD in 2017. This records an increase from the previous number of 57,588.538 USD for 2016. United States US: GDP: per Capita data is updated yearly, averaging 22,202.835 USD from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 59,531.662 USD in 2017 and a record low of 3,007.123 USD in 1960. United States US: GDP: per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Gross Domestic Product: Nominal. GDP per capita is gross domestic product divided by midyear population. 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. Data are in current local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

  9. U

    United States GDP by State per Capita: 2005p: New Mexico

    • ceicdata.com
    Updated Nov 15, 2009
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    CEICdata.com (2009). United States GDP by State per Capita: 2005p: New Mexico [Dataset]. https://www.ceicdata.com/en/united-states/nipa-2009-gross-domestic-product-by-state-per-capita/gdp-by-state-per-capita-2005p-new-mexico
    Explore at:
    Dataset updated
    Nov 15, 2009
    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 1, 2001 - Dec 1, 2012
    Area covered
    United States
    Variables measured
    Gross Domestic Product
    Description

    United States GDP by State per Capita: 2005p: New Mexico data was reported at 33,900.000 USD in 2012. This records an increase from the previous number of 33,872.000 USD for 2011. United States GDP by State per Capita: 2005p: New Mexico data is updated yearly, averaging 33,886.000 USD from Dec 1997 (Median) to 2012, with 16 observations. The data reached an all-time high of 35,550.000 USD in 2004 and a record low of 30,001.000 USD in 1997. United States GDP by State per Capita: 2005p: New Mexico data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A174: NIPA 2009: Gross Domestic Product by State: Per Capita.

  10. T

    United States GDP per capita PPP

    • tradingeconomics.com
    • da.tradingeconomics.com
    • +17more
    csv, excel, json, xml
    Updated Jul 25, 2013
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    TRADING ECONOMICS (2013). United States GDP per capita PPP [Dataset]. https://tradingeconomics.com/united-states/gdp-per-capita-ppp
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    excel, xml, json, csvAvailable download formats
    Dataset updated
    Jul 25, 2013
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 31, 1990 - Dec 31, 2023
    Area covered
    United States
    Description

    The Gross Domestic Product per capita in the United States was last recorded at 74577.51 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in the United States, when adjusted by Purchasing Power Parity is equivalent to 420 percent of the world's average. This dataset provides - United States GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

  11. U

    United States GDP by State per Capita: 2005p: Hawaii

    • ceicdata.com
    Updated Nov 15, 2009
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    CEICdata.com (2009). United States GDP by State per Capita: 2005p: Hawaii [Dataset]. https://www.ceicdata.com/en/united-states/nipa-2009-gross-domestic-product-by-state-per-capita/gdp-by-state-per-capita-2005p-hawaii
    Explore at:
    Dataset updated
    Nov 15, 2009
    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 1, 2001 - Dec 1, 2012
    Area covered
    United States
    Variables measured
    Gross Domestic Product
    Description

    United States GDP by State per Capita: 2005p: Hawaii data was reported at 44,442.000 USD in 2012. This records an increase from the previous number of 44,296.000 USD for 2011. United States GDP by State per Capita: 2005p: Hawaii data is updated yearly, averaging 42,817.000 USD from Dec 1997 (Median) to 2012, with 16 observations. The data reached an all-time high of 45,261.000 USD in 2007 and a record low of 38,806.000 USD in 1998. United States GDP by State per Capita: 2005p: Hawaii data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A174: NIPA 2009: Gross Domestic Product by State: Per Capita.

  12. U

    United States GDP by State per Capita: 2005p: Florida

    • ceicdata.com
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    CEICdata.com, United States GDP by State per Capita: 2005p: Florida [Dataset]. https://www.ceicdata.com/en/united-states/nipa-2009-gross-domestic-product-by-state-per-capita/gdp-by-state-per-capita-2005p-florida
    Explore at:
    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 1, 2001 - Dec 1, 2012
    Area covered
    United States
    Variables measured
    Gross Domestic Product
    Description

    United States GDP by State per Capita: 2005p: Florida data was reported at 34,802.000 USD in 2012. This records an increase from the previous number of 34,440.000 USD for 2011. United States GDP by State per Capita: 2005p: Florida data is updated yearly, averaging 34,788.500 USD from Dec 1997 (Median) to 2012, with 16 observations. The data reached an all-time high of 38,966.000 USD in 2006 and a record low of 31,478.000 USD in 1997. United States GDP by State per Capita: 2005p: Florida data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A238: NIPA 2009: Gross Domestic Product by State: Per Capita.

  13. F

    Real gross domestic product per capita

    • fred.stlouisfed.org
    json
    Updated Mar 27, 2025
    + more versions
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    (2025). Real gross domestic product per capita [Dataset]. https://fred.stlouisfed.org/series/A939RX0Q048SBEA
    Explore at:
    jsonAvailable download formats
    Dataset updated
    Mar 27, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-public-domainhttps://fred.stlouisfed.org/legal/#copyright-public-domain

    Description

    Graph and download economic data for Real gross domestic product per capita (A939RX0Q048SBEA) from Q1 1947 to Q4 2024 about per capita, real, GDP, and USA.

  14. T

    United States - GDP Per Capita

    • tradingeconomics.com
    csv, excel, json, xml
    Updated Jan 31, 2017
    + more versions
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    TRADING ECONOMICS (2017). United States - GDP Per Capita [Dataset]. https://tradingeconomics.com/united-states/gdp-per-capita-us-dollar-wb-data.html
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    json, excel, xml, csvAvailable download formats
    Dataset updated
    Jan 31, 2017
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 1976 - Dec 31, 2025
    Area covered
    United States
    Description

    GDP per capita (current US$) in United States was reported at 82769 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. United States - GDP per capita - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

  15. U.S. per capita personal income, by state 2023

    • statista.com
    Updated Jul 5, 2024
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    Statista (2024). U.S. per capita personal income, by state 2023 [Dataset]. https://www.statista.com/statistics/303555/us-per-capita-personal-income/
    Explore at:
    Dataset updated
    Jul 5, 2024
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    2023
    Area covered
    United States
    Description

    Residents of the District of Columbia had the highest personal income per capita in 2023, at 100,909 U.S. dollars. Mississippi residents, on the other hand, had the lowest personal income per capita, at 48,110 U.S. dollars. What is personal income? Personal income is the income that a worker receives from all sources, including salary, wages, bonuses, income from self-employment, dividends from investments, and receipts from real estate investments. Because of this, total personal income is different from the average wage, as personal income takes more factors into account than just salary and compensation. Income in the United States Wages and salaries in the United States can vary greatly depending on the profession a person is in, and the rise (or fall) of wages is seen as a key economic indicator as to the financial health of the country’s residents. In recent years, the increasing gap between CEO compensation and the compensation of the average worker has brought the issue of stagnating wages to the forefront of the national conversation.

  16. Countries with the largest gross domestic product (GDP) per capita 2025

    • statista.com
    Updated Oct 23, 2024
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    Statista (2024). Countries with the largest gross domestic product (GDP) per capita 2025 [Dataset]. https://www.statista.com/statistics/270180/countries-with-the-largest-gross-domestic-product-gdp-per-capita/
    Explore at:
    Dataset updated
    Oct 23, 2024
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    2024
    Area covered
    Worldwide
    Description

    In 2025, Luxembourg was the country with the highest gross domestic product per capita in the world. Of the 20 listed countries, 13 are in Europe and four are in Asia, alongside the U.S., Canada, and Australia. There are no African or Latin American countries among the top 20. Correlation with high living standards While GDP is a useful indicator for measuring the size or strength of an economy, GDP per capita is much more reflective of living standards. For example, when compared to life expectancy or indices such as the Human Development Index or the World Happiness Report, there is a strong overlap - 14 of the 20 countries on this list are also ranked among the 20 happiest countries in 2024, and all 20 have "very high" HDIs. Misleading metrics? GDP per capita figures, however, can be misleading, and to paint a fuller picture of a country's living standards then one must look at multiple metrics. GDP per capita figures can be skewed by inequalities in wealth distribution, and in countries such as those in the Middle East, a relatively large share of the population lives in poverty while a smaller number live affluent lifestyles.

  17. T

    United States - GDP Per Capita (constant 2000 US$)

    • tradingeconomics.com
    csv, excel, json, xml
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    TRADING ECONOMICS, United States - GDP Per Capita (constant 2000 US$) [Dataset]. https://tradingeconomics.com/united-states/gdp-per-capita-constant-2000-us-dollar-wb-data.html
    Explore at:
    xml, excel, csv, jsonAvailable download formats
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 1976 - Dec 31, 2025
    Area covered
    United States
    Description

    GDP per capita (constant 2015 US$) in United States was reported at 65875 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. United States - GDP per capita (constant 2000 US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

  18. F

    Investment Share of Purchasing Power Parity Converted GDP Per Capita at...

    • fred.stlouisfed.org
    json
    Updated Sep 17, 2012
    + more versions
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    (2012). Investment Share of Purchasing Power Parity Converted GDP Per Capita at current prices for United States [Dataset]. https://fred.stlouisfed.org/series/CIPPPGUSA156NUPN
    Explore at:
    jsonAvailable download formats
    Dataset updated
    Sep 17, 2012
    License

    https://fred.stlouisfed.org/legal/#copyright-public-domainhttps://fred.stlouisfed.org/legal/#copyright-public-domain

    Area covered
    United States
    Description

    Graph and download economic data for Investment Share of Purchasing Power Parity Converted GDP Per Capita at current prices for United States (CIPPPGUSA156NUPN) from 1950 to 2010 about PPP, investment, per capita, GDP, and USA.

  19. U

    United States US: GDP: Growth: GNI per Capita

    • ceicdata.com
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    CEICdata.com, United States US: GDP: Growth: GNI per Capita [Dataset]. https://www.ceicdata.com/en/united-states/gross-domestic-product-annual-growth-rate/us-gdp-growth-gni-per-capita
    Explore at:
    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 1, 2005 - Dec 1, 2016
    Area covered
    United States
    Variables measured
    Gross Domestic Product
    Description

    United States US: GDP: Growth: GNI per Capita data was reported at 0.675 % in 2016. This records a decrease from the previous number of 1.876 % for 2015. United States US: GDP: Growth: GNI per Capita data is updated yearly, averaging 2.062 % from Dec 1971 (Median) to 2016, with 46 observations. The data reached an all-time high of 6.200 % in 1984 and a record low of -3.728 % in 2009. United States US: GDP: Growth: GNI per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GNI per capita based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GNI per capita is gross national income divided by midyear population. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

  20. U

    United States GDP by State per Capita: 2005p: Texas

    • ceicdata.com
    Updated Mar 15, 2009
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    CEICdata.com (2009). United States GDP by State per Capita: 2005p: Texas [Dataset]. https://www.ceicdata.com/en/united-states/nipa-2009-gross-domestic-product-by-state-per-capita/gdp-by-state-per-capita-2005p-texas
    Explore at:
    Dataset updated
    Mar 15, 2009
    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 1, 2001 - Dec 1, 2012
    Area covered
    United States
    Variables measured
    Gross Domestic Product
    Description

    United States GDP by State per Capita: 2005p: Texas data was reported at 46,498.000 USD in 2012. This records an increase from the previous number of 45,025.000 USD for 2011. United States GDP by State per Capita: 2005p: Texas data is updated yearly, averaging 42,804.500 USD from Dec 1997 (Median) to 2012, with 16 observations. The data reached an all-time high of 46,498.000 USD in 2012 and a record low of 38,206.000 USD in 1997. United States GDP by State per Capita: 2005p: Texas data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A174: NIPA 2009: Gross Domestic Product by State: Per Capita.

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Statista (2024). U.S. real per capita GDP 2023, by state [Dataset]. https://www.statista.com/statistics/248063/per-capita-us-real-gross-domestic-product-gdp-by-state/
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U.S. real per capita GDP 2023, by state

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17 scholarly articles cite this dataset (View in Google Scholar)
Dataset updated
Jul 5, 2024
Dataset authored and provided by
Statistahttp://statista.com/
Time period covered
2023
Area covered
United States
Description

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2023, at 90,730 U.S. dollars, followed closely by Massachusetts. Mississippi had the lowest per-capita real GDP, at 39,102 U.S. dollars. While not a state, the District of Columbia had a per capita GDP of more than 214,000 U.S. dollars. What is real GDP? A country’s real GDP is a measure that shows the value of the goods and services produced by an economy and is adjusted for inflation. The real GDP of a country helps economists to see the health of a country’s economy and its standard of living. Downturns in GDP growth can indicate financial difficulties, such as the financial crisis of 2008 and 2009, when the U.S. GDP decreased by 2.5 percent. The COVID-19 pandemic had a significant impact on U.S. GDP, shrinking the economy 2.8 percent. The U.S. economy rebounded in 2021, however, growing by nearly six percent. Why real GDP per capita matters Real GDP per capita takes the GDP of a country, state, or metropolitan area and divides it by the number of people in that area. Some argue that per-capita GDP is more important than the GDP of a country, as it is a good indicator of whether or not the country’s population is getting wealthier, thus increasing the standard of living in that area. The best measure of standard of living when comparing across countries is thought to be GDP per capita at purchasing power parity (PPP) which uses the prices of specific goods to compare the absolute purchasing power of a countries currency.

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