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 the United States was worth 29184.89 billion US dollars in 2024, according to official data from the World Bank. The GDP value of the United States represents 27.49 percent of the world economy. This dataset provides - United States GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of the first quarter of 2025, the GDP of the U.S. fell by 0.5 percent from the fourth 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.

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.

Graph and download economic data for Real gross domestic product per capita (A939RX0Q048SBEA) from Q1 1947 to Q2 2025 about per capita, real, GDP, and USA.

In 2024, the U.S. GDP increased from the previous year to about 29.18 trillion U.S. dollars. Gross domestic product (GDP) refers to the market value of all goods and services produced within a country. In 2024, the United States has the largest economy in the world. 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.

Graph and download economic data for Nominal Gross Domestic Product for United States (NGDPSAXDCUSQ) from Q1 1950 to Q1 2025 about GDP and USA.

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 2 percent in the second 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 USA: Percent of world GDP: The latest value from 2023 is 26.3 percent, an increase from 25.73 percent in 2022. In comparison, the world average is 0.53 percent, based on data from 188 countries. Historically, the average for the USA from 1980 to 2023 is 26.89 percent. The minimum value, 21.2 percent, was reached in 2011 while the maximum of 35.32 percent was recorded in 1985.

In the first quarter of 2025, the GDP of the United States was two percent higher compared to the first quarter of 2024. The gross domestic product refers to the market value of all final goods and services produced in a country within a given period.

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.

Graph and download economic data for Federal Net Outlays as Percent of Gross Domestic Product (FYONGDA188S) from 1929 to 2024 about outlays, federal, Net, GDP, and USA.

The USA: Gross Domestic Product, billions of U.S. dollars: The latest value from 2024 is 29184.89 billion U.S. dollars, an increase from 27720.71 billion U.S. dollars in 2023. In comparison, the world average is 612.35 billion U.S. dollars, based on data from 176 countries. Historically, the average for the USA from 1960 to 2024 is 8865.89 billion U.S. dollars. The minimum value, 542.39 billion U.S. dollars, was reached in 1960 while the maximum of 29184.89 billion U.S. dollars was recorded in 2024.

Graph and download economic data for Gross Federal Debt as Percent of Gross Domestic Product from 1939 to 2023 about gross, debt, federal, GDP, and USA.

The Gross Domestic Product per capita in the United States was last recorded at 66682.61 US dollars in 2024. The GDP per Capita in the United States is equivalent to 528 percent of the world's average. This dataset provides - United States GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the gross domestic product (GDP) per capita in the United States from 1987 to 2024, with projections up until 2030. In 2024, the gross domestic product per capita in the United States amounted to around 85,812.18 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 .

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.

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.

GDP, billion currency units in the USA, June, 2025 The most recent value is 7582.78 billion U.S. Dollar as of Q2 2025, an increase compared to the previous value of 7490.5 billion U.S. Dollar. Historically, the average for the USA from Q1 1960 to Q2 2025 is 2249.82 billion U.S. Dollar. The minimum of 135.28 billion U.S. Dollar was recorded in Q4 1960, while the maximum of 7582.78 billion U.S. Dollar was reached in Q2 2025. | TheGlobalEconomy.com