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.

China manufacturing output for 2023 was 4.659 trillion US dollars, a 3.74% decline from 2022.

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

<li>China manufacturing output for 2022 was <strong>4.840 trillion US dollars</strong>, a <strong>1.41% decline</strong> from 2021.</li>
<li>China manufacturing output for 2021 was <strong>4.909 trillion US dollars</strong>, a <strong>27.15% increase</strong> from 2020.</li>
<li>China manufacturing output for 2020 was <strong>3.861 trillion US dollars</strong>, a <strong>0.97% increase</strong> from 2019.</li>
</ul>Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are in current U.S. dollars.

In 2023, the United States accounted for 15.56 percent of global gross domestic product (GDP) after adjusting for purchasing power parity (PPP). This share was expected to decrease to 14.72 percent by 2029, which is roughly a seventh of the global total. What is PPP? The easiest way to understand purchasing power parity is the Big Mac Index, a measure developed by The Economist. The index tracks the price of the McDonald’s Big Mac burger, sold at each of its thousands of restaurants worldwide. Countries where the Big Mac is most expensive have higher purchasing power, meaning one can buy more for each unit of that currency. To calculate PPP, economists use a group of goods to calculate the ratio of the price of this group in each country. This ratio is then used to convert all countries into a standardized price level, on parity with each other. Why use PPP? A U.S. dollar in the United States does not have the same purchasing power as a dollar in China, even after considering the exchange rate. For this reason, adjusting for PPP gives an idea of what the rest of the world could buy in the United States, if prices were the same as in their home country. However, some economists argue that using PPP for comparisons between countries is inaccurate because it changes the price level differently for each country. Still, because it accounts not only for country-specific effects but also inflation and exchange rate fluctuations, PPP is a very popular metric.

The graph shows China's share in global gross domestic product adjusted for purchasing-power-parity until 2024, with a forecast until 2030. In 2024, China's share was about 19.45 percent. China's global GDP share Due to the introduction of capitalist market principles in 1978, China's economic market began to show immense change and growth. China's real GDP growth ranged at 5.0 percent in 2024. China's per capita GDP is also expected to continue to grow, reaching 13,300 U.S. dollars in 2024. Comparatively, Luxembourg and Switzerland have some of the world’s largest GDP per capita with 141,100 U.S. dollars and 111,700 U.S. dollars, respectively, expected for 2025.China is the largest exporter and second largest importer of goods in the world and is also among the largest manufacturing economies. The country also ranges among the world's largest agricultural producers and consumers. It relies heavily on intensive agricultural practices and is the world's largest producer of pigs, chickens, and eggs. Livestock production has been heavily emphasized since the mid-1970s. China’s chemical industry has also seen growth with a heavy focus on fertilizers, plastics, and synthetic fibers. China's use of chemical fertilizers amounted to approximately 50.2 million metric tons in 2023. GDP composition in China Industry and construction account for less than 40 percent of China's GDP. Some of the major industries include mining and ore processing, food processing, coal, machinery, textiles and apparel, and consumer products. Almost half of China's output is dedicated to investment purposes. However, as the country tends to support gross output, innovation, technological advancement, and even quality are often lacking.

U.S. GNP for 2023 was 26.945 trillion US dollars, a 4.38% increase from 2022.

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

<li>U.S. GNP for 2022 was <strong>25.815 trillion US dollars</strong>, a <strong>8.74% increase</strong> from 2021.</li>
<li>U.S. GNP for 2021 was <strong>23.741 trillion US dollars</strong>, a <strong>10.81% increase</strong> from 2020.</li>
<li>U.S. GNP for 2020 was <strong>21.425 trillion US dollars</strong>, a <strong>1.46% decline</strong> from 2019.</li>
</ul>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. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

Japan manufacturing output for 2022 was 818.40 billion US dollars, a 22.06% decline from 2021.

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<li>Japan manufacturing output for 2021 was <strong>1.050 trillion US dollars</strong>, a <strong>3.57% increase</strong> from 2020.</li>
<li>Japan manufacturing output for 2020 was <strong>1.014 trillion US dollars</strong>, a <strong>2.06% decline</strong> from 2019.</li>
<li>Japan manufacturing output for 2019 was <strong>1.035 trillion US dollars</strong>, a <strong>0.43% decline</strong> from 2018.</li>
</ul>Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are in current U.S. dollars.

According to preliminary data, the agricultural sector contributed around 6.8 percent to the gross domestic product (GDP) of China in 2024, whereas 36.5 percent of the economic value added originated from the industrial sector and 54.6 percent from the service sector, respectively. The total GDP of China at current prices amounted to approximately 134.91 trillion yuan in 2024. Economic development in China The gross domestic product (GDP) serves as a primary indicator to measure the economic performance of a country or a region. It is generally defined as the monetary value of all finished goods and services produced within a country in a specific period of time. It includes all of private and public spending, government spending, investments, and net exports which are calculated as total exports minus imports. In other words, GDP represents the size of the economy.With its national economy growing at an exceptional annual growth rate of above nine percent for three decades in succession, China had become the worlds’ second largest economy by 2010, surpassing all other economies but the United States. Even though China's GDP growth has cooled down in recent years, its economy still expanded at roughly two times the pace of the United States in 2024. Breakdown of GDP in China When compared to other developed countries, the proportions of agriculture and industry in China's GDP are significantly higher. Even though agriculture is a major industry in the United States, it only accounted for about one percent of the economy in 2023. While the service sector contributed to more than 70 percent of the economy in most developed countries, it's share was considerably lower in China. This was not only due to China's lower development level, but also to the country’s focus on manufacturing and export. However, as the future limitations of this growth model become more and more apparent, China is trying to shift it's economic focus to the high-tech and service sectors. Accordingly, growth rates of the service sector have been considerably higher than in industry and agriculture in the years before the spread of the coronavirus pandemic.

Graph and download economic data for All Employees, Total Private (USPRIV) from Jan 1939 to Jun 2025 about headline figure, establishment survey, private industries, private, employment, industry, and USA.

The construction sector employed over *** million people in the United States in April 2025, which was the highest number since the 21st century. There is a strong correlation between the amount of investment in construction and demand for workers. For example, in the years following the 2008 financial crisis, the value of new construction put in place in the U.S. decreased, which also translated in lower employee numbers in the construction sector. How to improve the job shortage? Many contractors have reported difficulty finding skilled workers recently. However, that has not only been the case in the construction industry, but in many other sectors of the economy too. For example, U.S. restaurants reported shortages in different positions in the past years. Although there are many reasons why workers may quit, in general, an increase in the salaries of construction employees may help in reducing the number of resignations. Worker shortages in Europe The United States is not the only country where companies have been facing these challenges. Thus, the percentage of French infrastructure companies reporting staff shortage peaked in 2019 and 2023. However, there are certain industries that struggle finding new employees more than construction. Social and care work had the highest skilled labor shortages in Germany.

United States - Manufacturing Durable Goods Sector: Transportation Equipment: Purchased Services Factor Shares was 0.08300 Ratio in January of 2018, according to the United States Federal Reserve. Historically, United States - Manufacturing Durable Goods Sector: Transportation Equipment: Purchased Services Factor Shares reached a record high of 0.13800 in January of 1992 and a record low of 0.07300 in January of 2000. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Manufacturing Durable Goods Sector: Transportation Equipment: Purchased Services Factor Shares - last updated from the United States Federal Reserve on July of 2025.

The projected fiscal breakeven oil price in the United Arab Emirates (UAE) in 2025 was ** U.S. dollars per barrel. This represented a decrease from over ** U.S. dollars per barrel in 2023. Fiscal breakeven oil price as an indicator For the countries whose economies rely heavily on oil revenues, the fiscal breakeven oil price serves as an indicator of the country’s financial state. More specifically, it is the minimum barrel price the nation needs to cover its budget expenditures. For instance, the fiscal breakeven oil price in Kuwait was projected to be around ** U.S. dollars per barrel in 2025, while that of Qatar about ** U.S. dollars per barrel. This implies that the Qatari economy may be more resilient to oil price shocks than Kuwait, since it can endure lower prices. The UAE, fossil fuels, and sustainability Similar to other economies in the region, the UAE had a relatively high share of GDP attributed to oil and gas production. The UAE has large oil reserves, listing among the leading countries in terms of proved oil reserves worldwide. Nevertheless, an economy built around fossil fuels is harmful to the environment and susceptible to oil price shocks, and therefore unsustainable. For these reasons, the Emirati government has devised strategies to build a more resilient economy, that is less dependent on fossil fuels. For example, the planned energy distribution in the UAE aims for renewable energy sources to make up ** percent of the total by 2050.

In 2018, Germany’s GDP peaked at around four billion U.S. dollars, the highest GDP the country has reported in decades. It is predicted to grow towards 5.57 billion by 2030. Germany has the fourth-largest GDP in the world, after the United States, China, and Japan. The national debt of Germany has steadily been falling since 2012 and is now about a quarter of the size of Japan’s and half that of the United States. Development of GDP per capita Gross domestic product per capita in Germany has been increasing since 2015 and experienced its last period of decline between the mid-nineties and early noughties. In 2001, GDP per capita was the lowest it had been since the early nineties, but more than doubled by the time of the financial crisis in 2008. GDP per capita fluctuated throughout the subsequent decade, before reaching around 48,000 U.S. dollars in 2018. Largest economic sectors The service sector generates the highest share of GDP in Germany at nearly 70 percent. Finance and telecommunications are a large part of the service sector, as well as tourism – including hospitality and accommodation. Roughly a quarter of GDP currently comes from the production industry, not including construction. Agriculture, fishing, and forestry make up less than one percent.

The statistic depicts Australia's gross domestic product (GDP) from 1987 to 2024, with projections up until 2030. In 2024, GDP in Australia amounted to about 1.8 trillion US dollars. See global GDP for a global comparison. Australia’s economy and population Australia’s gross domestic product has been growing steadily, and all in all, Australia and its economic key factors show a well-set country. Australia is among the countries with the largest gross domestic product / GDP worldwide, and thus one of the largest economies. It was one of the few countries not severely stricken by the 2008 financial crisis; its unemployment rate, inflation rate and trade balance, for example, were hardly affected at all. In fact, the trade balance of Australia – a country’s exports minus its imports – has been higher than ever since 2010, with a slight dip in 2012. Australia mainly exports wine and agricultural products to countries like China, Japan or South Korea. One of Australia’s largest industries is tourism, which contributes a significant share to its gross domestic product. Almost half of approximately 23 million Australian residents are employed nowadays, life expectancy is increasing, and the fertility rate (the number of children born per woman) has been quite stable. A look at the distribution of the world population by continent shows that Australia is ranked last in terms of population and population density. Most of Australia's population lives at the coast in metropolitan areas, since parts of the continent are uninhabitable. Unsurprisingly, Australia is known as a country with very high living standards, four of its biggest cities – Melbourne, Adelaide, Sydney and Perth – are among the most livable cities worldwide.