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.

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.

The gross domestic product (GDP) growth rate of all major economies included except China was negative in 2020 following the COVID-19 pandemic. Growth rates were positive again in 2021, but stagnated in some countries in 2023 amid high inflation rates. What does GDP measure? GDP is the sum of all consumption, investment, government spending, and net exports in an economy. As such, different things drive the growth of each of these countries. Germany benefits from a high value of net exports, also known as its trade balance. Drawbacks of GDP growth as a metric GDP measures growth, but it does not capture welfare gains correctly in many cases. For example, carbon dioxide emissions often go hand in hand with a growing GDP. These emissions are from industry, such as coal power plants, or consumption, such as driving cars, but GDP does not measure the damage from these activities. Also, national debt is not incorporated into GDP.

The gross domestic product (GDP) of all G7 countries decreased sharply in 2009 and 2020 due to the financial crisis and COVID-19 pandemic, respectively. The growth decline was heavier after the COVID-19 pandemic than the financial crisis. Moreover, Italy had a negative GDP growth rate in 2012 and 2013 following the euro crisis. In 2023, Germany experienced an economic recession.

Graph and download economic data for Dates of U.S. recessions as inferred by GDP-based recession indicator (JHDUSRGDPBR) from Q4 1967 to Q4 2024 about recession indicators, GDP, and USA.

The gross domestic product (GDP) of Papua New Guinea (PNG) grew at an annual average rate of nearly 7% between 2007 and 2010, and is expected to perform even better in 2011. Moreover, the economy remained unaffected even at the peak of the global economic crisis, when most other major Southeast Asian and Pacific economies recorded low or negative GDP growth rates. Sound macroeconomic management in the recent past and planned initiatives such as the PNG LNG Project indicate that the economy will continue to perform well in the medium to long run. Nevertheless, the country faces a number of development challenges. Per capita GDP and its growth rate remain low. The economy is heavily dependent on the mining and resource sectors, and hence remains vulnerable to fluctuations in the global markets. A majority of the people in the labor force work in the informal sector, and opportunities for productive employment in the formal sector continue to grow very slowly. Provision of public services, including education, health, and safe drinking water and sanitation, remains inadequate, especially in the rural areas.

The Gross Domestic Product (GDP) in Argentina expanded 5.80 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - Argentina 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.

The Gross Domestic Product (GDP) in Japan stagnated 0 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Japan GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Russia Real GDP Growth

• The Gross Domestic Product (GDP) in Russia contracted 2.6 % YoY in Mar 2023, following a negative growth of 3.2 % in the previous quarter.
• Real GDP Growth YoY data in Russia is updated quarterly, available from Mar 1996 to Mar 2023, with an average rate of 2.7 %.
• The data reached an all-time high of 12.3 % in Dec 1999 and a record low of -9.4 % in Jun 2009.

CEIC calculates quarterly Real GDP Growth from quarterly Real GDP. The Federal State Statistics Service provides Real GDP in local currency at 2021 prices, based on SNA 2008. Real GDP Growth prior to Q1 2012 is calculated from Real GDP at 2008 prices and prior to Q1 2004 from Real GDP at 2003 prices, both based on SNA 1993.


Related information about Russia Real GDP Growth

• In the latest reports, Nominal GDP of Russia reached 494.7 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 0.7 % in Mar 2023.
• GDP Per Capita in Russia reached 15,074.8 USD in Dec 2022.
• Its Gross Savings Rate was measured at 35.2 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 28.9 % in Dec 2022.
• Public Consumption accounted for 17.5 % in Dec 2022.
• Private Consumption accounted for 47.3 % in Dec 2022.

The Gross Domestic Product (GDP) in Japan expanded 1.70 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - Japan GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Uruguay Real GDP Growth

• The Gross Domestic Product (GDP) in Uruguay expanded 1.2 % YoY in Mar 2023, following a negative growth of 0.1 % in the previous quarter.
• Real GDP Growth YoY data in Uruguay is updated quarterly, available from Mar 1998 to Mar 2023, with an average rate of 3.3 %.
• The data reached an all-time high of 11.3 % in Jun 2021 and a record low of -13.6 % in Jun 2020.

CEIC calculates quarterly Real GDP Growth from quarterly Real GDP Index. The Central Bank of Uruguay provides Real GDP Index based on SNA 2008, at 2016 prices. Real GDP Growth prior to Q1 2017 is calculated from Real GDP based on SNA 1993, at 2005 prices.


Related information about Uruguay Real GDP Growth

• In the latest reports, Nominal GDP of Uruguay reached 19.2 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 6.1 % in Mar 2023.
• GDP Per Capita in Uruguay reached 15,471.9 USD in Dec 2020.
• Its Gross Savings Rate was measured at 17.1 % in Dec 2016.
• For Nominal GDP contributions, Investment accounted for 15.2 % in Mar 2023.
• Public Consumption accounted for 16.7 % in Mar 2023.
• Private Consumption accounted for 59.8 % in Dec 2022.

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 Venezuela expanded 8.54 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides - Venezuela GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Brunei Real GDP Growth

• The Gross Domestic Product (GDP) in Brunei expanded 0.9 % YoY in Sep 2022, following a negative growth of 4.4 % in the previous quarter.
• Real GDP Growth YoY data in Brunei is updated quarterly, available from Mar 2005 to Sep 2022, with an average rate of 0.2 %.
• The data reached an all-time high of 7.1 % in Dec 2019 and a record low of -6.0 % in Mar 2014.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Department of Economic Planning and Statistics, Ministry of Finance and Economy provides Real GDP in local currency, at 2010 prices based on SNA 2008. Real GDP Growth prior to Q1 2014 is calculated from Real GDP at 2000 prices based on SNA 1993.


Related information about Brunei Real GDP Growth

• In the latest reports, Nominal GDP of Brunei reached 4.1 USD bn in Sep 2022.
• Its GDP deflator (implicit price deflator) increased 22.0 % in Sep 2022.
• GDP Per Capita in Brunei reached 31,781.3 USD in Dec 2021.
• Its Gross Savings Rate was measured at 60.0 % in Sep 2022.
• For Nominal GDP contributions, Investment accounted for 30.5 % in Sep 2022.
• Public Consumption accounted for 17.6 % in Sep 2022.
• Private Consumption accounted for 22.4 % in Sep 2022.

The statistic shows global gross domestic product (GDP) from 1985 to 2024, with projections up until 2030. In 2020, global GDP amounted to about 85.76 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.

The statistic shows 20 countries with the lowest growth in real GDP in 2023. In 2023, Sudan's real gross domestic product had decreased by 18.3 percent compared to the previous year.

The Gross Domestic Product (GDP) in Germany expanded 0.40 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - Germany GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This paper shows that foreign aid has a significant positive average effect on real per capita gross domestic product (GDP) growth if, and only if, the quantitatively large negative reverse causal effect of per capita GDP growth on foreign aid is adjusted for in the growth regression. Instrumental variables estimates show that a 1 percentage point increase in GDP per capita growth decreased foreign aid by over 4%. Adjusting for this quantitatively large, negative reverse causal effect of economic growth on foreign aid shows that a 1% increase in foreign aid increased real per capita GDP growth by around 0.1 percentage points.

The Gross Domestic Product (GDP) in Canada expanded 0.50 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Canada GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.