The statistic shows global gross domestic product (GDP) from 1985 to 2022, with projections up until 2029. In 2020, global GDP amounted to about 85.52 trillion U.S. dollars, two and a half trillion lower than in 2019. Gross domestic product Gross domestic product, also known as GDP, is the accumulated value of all finished goods and services produced in a country, often measured annually. GDP is significant in determining the economic health, growth and productivity in the country, and is a stat often used when comparing several countries at a time, most likely in order to determine which country has seen the most progress. Until 2020, Global GDP had experienced a growth every year since 2010. However, a strong growth rate does not necessarily lead to all positive outcomes and often has a negative effect on inflation rates. A severe growth in GDP leads to lower unemployment, however lower unemployment often leads to higher inflation rates due to demand increasing at a much higher rate than supply and as a result prices rise accordingly. In terms of unemployment, growth had been fairly stagnant since the economic downturn of 2007-2009, but it remains to be seen what the total impact of the coronavirus pandemic will be on total employment.

In 2024, the United States had the largest economy in the world, with a gross domestic product of just under 29 trillion U.S. dollars. China had the second largest economy, at around 18.5 trillion U.S. dollars. Recent adjustments in the list have seen Germany's economy overtake Japan's to become the third-largest in the world in 2023, while Brazil's economy moved ahead of Italy's in 2024. Global gross domestic product Global gross domestic product amounts to almost 110 trillion U.S. dollars, with the United States making up more than one-quarter of this figure alone. The 12 largest economies in the world include all Group of Seven (G7) economies, as well as the four largest BRICS economies. The U.S. has consistently had the world's largest economy since the interwar period, and while previous reports estimated it would be overtaken by China in the 2020s, more recent projections estimate the U.S. economy will remain the largest by a considerable margin going into the 2030s.The gross domestic product of a country is calculated by taking spending and trade into account, to show how much the country can produce in a certain amount of time, usually per year. It represents the value of all goods and services produced during that year. Those countries considered to have emerging or developing economies account for almost 60 percent of global gross domestic product, while advanced economies make up over 40 percent.

Gross domestic product ranking table.

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.

The gross domestic product (GDP) of California was about 3.23 trillion U.S. dollars in 2023, meaning that it contributed the most out of any state to the country’s GDP in that year. In contrast, Vermont had the lowest GDP in the United States, with 35.07 billion U.S. dollars. What is GDP? Gross domestic product, or GDP, is the total monetary value of all goods and services produced by an economy within a certain time period. GDP is used by economists to determine the economic health of an area, as well as to determine the size of the economy. GDP can be determined for countries, states and provinces, and metropolitan areas. While GDP is a good measure of the absolute size of a country's economy and economic activity, it does account for many other factors, making it a poor indicator for measuring the cost or standard of living in a country, or for making cross-country comparisons. GDP of the United States The United States has the largest gross domestic product in the world as of 2023, with China, Japan, Germany, and India rounding out the top five. The GDP of the United States has almost quadrupled since 1990, when it was about 5.9 trillion U.S. dollars, to about 25.46 trillion U.S. dollars in 2022.

The Gross Domestic Product (GDP) in World was worth 106171.67 billion US dollars in 2023, according to official data from the World Bank. This dataset includes a chart with historical data for World GDP.

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.

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.

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

Key information about Iran Real GDP Growth

• The Gross Domestic Product (GDP) in Iran expanded 5.0 % YoY in Mar 2022, following a growth of 6.7 % in the previous quarter.
• Real GDP Growth YoY data in Iran is updated quarterly, available from Jun 1989 to Mar 2022, with an average rate of 3.9 %.
• The data reached an all-time high of 22.7 % in Jun 1992 and a record low of -16.0 % in Sep 2008.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Central Bank of the Islamic Republic of Iran provides Real GDP in local currency, at 2016-2017 prices. Real GDP Growth prior to Q1 2020 is calculated from Real GDP at 2011-2012 prices. Real GDP Growth prior to Q2 2005 is calculated from Real GDP at 1997-1998 prices.


Related information about Iran Real GDP Growth

• In the latest reports, Nominal GDP of Iran reached 429.4 USD bn in Mar 2022.
• Its GDP deflator (implicit price deflator) increased 51.5 % in Mar 2022.
• GDP Per Capita in Iran reached 11,557.0 USD in Mar 2021.
• Its Gross Savings Rate was measured at 36.8 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 32.9 % in Mar 2022.
• Public Consumption accounted for 18.0 % in Mar 2022.
• Private Consumption accounted for 45.2 % in Mar 2022.

The Gross Domestic Product (GDP) in China was worth 17794.78 billion US dollars in 2023, according to official data from the World Bank. The GDP value of China represents 16.88 percent of the world economy. This dataset provides - China GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Pakistan was worth 338.37 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Pakistan represents 0.32 percent of the world economy. This dataset provides - Pakistan GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Thailand Real GDP Growth

• The Gross Domestic Product (GDP) in Thailand expanded 2.7 % YoY in Mar 2023, following a growth of 1.3 % in the previous quarter.
• Real GDP Growth YoY data in Thailand is updated quarterly, available from Mar 1994 to Mar 2023, with an average rate of 3.8 %.
• The data reached an all-time high of 15.3 % in Dec 2012 and a record low of -12.2 % in Jun 1998.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Office of the National Economic and Social Development Council provides Real GDP in local currency, at chain linked 2002 prices.


Related information about Thailand Real GDP Growth

• In the latest reports, Nominal GDP of Thailand reached 132.0 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 2.9 % in Mar 2023.
• GDP Per Capita in Thailand reached 7,497.7 USD in Dec 2022.
• Its Gross Savings Rate was measured at 30.4 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 25.3 % in Mar 2023.
• Public Consumption accounted for 15.9 % in Mar 2023.
• Private Consumption accounted for 53.7 % in Mar 2023.

Key information about United States Market Capitalization: % of GDP

• United States Market Capitalization accounted for 155.0 % of its Nominal GDP in Dec 2022, compared with a percentage of 205.0 % in the previous year
• US Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1975 to Dec 2022
• The data reached an all-time high of 205.0 % in Dec 2021 and a record low of 36.7 % in Dec 1978

The World Bank provides annual Market Capitalization as % of Nominal GDP. Market Capitalization includes domestic companies listed at the end of the year and excludes investment companies, mutual funds and other collective investment vehicles

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

The Gross Domestic Product (GDP) in Sri Lanka was worth 84.36 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Sri Lanka represents 0.08 percent of the world economy. This dataset provides the latest reported value for - Sri Lanka GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Algeria Real GDP Growth

• The Gross Domestic Product (GDP) in Algeria expanded 2.0 % YoY in Sep 2024, following a growth of 3.7 % in the previous quarter.
• Real GDP Growth YoY data in Algeria is updated quarterly, available from Mar 2000 to Sep 2024, with an average rate of 3.1 %.
• The data reached an all-time high of 8.1 % in Jun 2021 and a record low of -10.2 % in Jun 2020.

CEIC extends history for quarterly Real GDP Growth. The National Office of Statistics provides Real GDP Growth at chain linked previous year prices based on SNA 2008. Real GDP Growth prior to Q1 2002 is based on SNA 1993.


Related information about Algeria Real GDP Growth

• In the latest reports, Nominal GDP of Algeria reached 51.3 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 2.0 % in Sep 2024.
• GDP Per Capita in Algeria reached 3,630.4 USD in Dec 2021.
• Its Gross Savings Rate was measured at 36.1 % in Dec 2021.
• For Nominal GDP contributions, Investment accounted for 37.7 % in Dec 2023.
• Public Consumption accounted for 16.9 % in Dec 2023.
• Private Consumption accounted for 41.2 % in Dec 2023.

Key information about Kazakhstan Real GDP Growth

• The Gross Domestic Product (GDP) in Kazakhstan expanded 3.4 % YoY in Mar 2023, following a growth of 4.0 % in the previous quarter.
• Real GDP Growth YoY data in Kazakhstan is updated quarterly, available from Mar 2006 to Mar 2023, with an average rate of 4.4 %.
• The data reached an all-time high of 11.8 % in Mar 2007 and a record low of -5.1 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan provides Real GDP in local currency, at 2005 prices.


Related information about Kazakhstan Real GDP Growth

• In the latest reports, Nominal GDP of Kazakhstan reached 79.9 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 14.4 % in Mar 2023.
• GDP Per Capita in Kazakhstan reached 11,380.5 USD in Dec 2022.
• Its Gross Savings Rate was measured at 44.9 % in Sep 2022.
• For Nominal GDP contributions, Investment accounted for 25.1 % in Dec 2022.
• Public Consumption accounted for 8.7 % in Sep 2022.
• Private Consumption accounted for 46.5 % in Sep 2022.

Key information about India Real GDP Growth

• The Gross Domestic Product (GDP) in India expanded 4.4 % YoY in Dec 2022, following a growth of 6.3 % in the previous quarter.
• Real GDP Growth YoY data in India is updated quarterly, available from Jun 2005 to Dec 2022, with an average rate of 7.2 %.
• The data reached an all-time high of 21.6 % in Jun 2021 and a record low of -23.4 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. Ministry of Statistics and Programme Implementation provides Real GDP in local currency based on SNA 2008, at 2011-2012 prices. Real GDP prior to Q2 2012 is based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices.


Related information about India Real GDP Growth

• In the latest reports, Nominal GDP of India reached 844.6 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.6 % in Dec 2022.
• GDP Per Capita in India reached 2,301.4 USD in Mar 2022.
• Its Gross Savings Rate was measured at 30.2 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 28.4 % in Dec 2022.
• Public Consumption accounted for 9.0 % in Dec 2022.
• Private Consumption accounted for 63.3 % in Dec 2022.

Key information about Ecuador Real GDP Growth

• The Gross Domestic Product (GDP) in Ecuador expanded 3.2 % YoY in Sep 2022, following a growth of 1.9 % in the previous quarter.
• Real GDP Growth YoY data in Ecuador is updated quarterly, available from Mar 1994 to Sep 2022, with an average rate of 3.5 %.
• The data reached an all-time high of 11.6 % in Jun 2021 and a record low of -13.9 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Central Bank of Ecuador provides Real GDP in USD, at 2007 prices.


Related information about Ecuador Real GDP Growth

• In the latest reports, Nominal GDP of Ecuador reached 29.3 USD bn in Sep 2022.
• Its GDP deflator (implicit price deflator) increased 6.0 % in Sep 2022.
• GDP Per Capita in Ecuador reached 5,670.3 USD in Dec 2020.
• Its Gross Savings Rate was measured at 23.3 % in Sep 2022.
• For Nominal GDP contributions, Investment accounted for 22.8 % in Sep 2022.
• Public Consumption accounted for 15.0 % in Sep 2022.
• Private Consumption accounted for 61.7 % in Sep 2022.