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.

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.

Graph and download economic data for Gross Domestic Product: All Industry Total in Michigan (MINQGSP) from Q1 2005 to Q3 2024 about MI, GSP, industry, GDP, and USA.

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.

The Gross Domestic Product (GDP) in the United States expanded 2.50 percent in the fourth quarter of 2024 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.

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.

• 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.

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

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.

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.

Key information about United States Private Consumption: % of GDP

• United States Private Consumption accounted for 68.8 % of its Nominal GDP in Dec 2024, compared with a ratio of 67.7 % in the previous quarter.
• US Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1947 to Dec 2024, with an average share of 63.5 %.
• The data reached an all-time high of 68.8 % in Dec 2024 and a record low of 57.7 % in Mar 1952.

• In the latest reports, US GDP expanded 1.8 % YoY in Mar 2023.
• Its Nominal GDP reached 6,632.4 USD bn in Mar 2023.
• US GDP Per Capita reached 59,484.0 USD in Dec 2017.
• Its Gross Savings Rate was measured at 16.0 % in Mar 2023.

United States LS: Loan Demand from Small Firms: Stronger: Net data was reported at -10.800 % in Oct 2018. This records a decrease from the previous number of 9.100 % for Jul 2018. United States LS: Loan Demand from Small Firms: Stronger: Net data is updated quarterly, averaging 3.600 % from Oct 1991 (Median) to Oct 2018, with 109 observations. The data reached an all-time high of 38.900 % in Jul 2004 and a record low of -63.500 % in Apr 2009. United States LS: Loan Demand from Small Firms: Stronger: Net data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S022: Senior Loan Officer Opinion Survey: Demand for Commercial and Industrial Loans.

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.

In a 2024 study, New Jersey was considered the best state for working from home in the United States with a total score of 64.76. This score is a weighted average across 12 metrics which were divided into two major categories. Examples of metrics include cybersecurity, the percentage of workers working remotely, as well as the cost of internet in each state.

IntroductionEducation level is positively associated with adult health in the United States. However, new research shows that the association is stronger in some U.S. states than others, and that states with stronger associations also tend to have poorer overall levels of health. Understanding why educational disparities in health are larger in some states than others can advance knowledge of the major drivers of these disparities, between individuals and states. To that end, this study examined how key mechanisms (economic conditions, health behaviors, family, healthcare) help explain the education-health association in each state and whether they do so systematically.MethodsUsing data on over 1.7 million adults ages 25–64 in the 2011–2018 Behavioral Risk Factor Surveillance System, we estimated the association between education level and self-rated health in each state, net of age, sex, race/ethnicity, and calendar year. We then estimated the contribution of economic, behavioral, family, and healthcare mechanisms to the association in each state.ResultsThe strength of the education-health association differed markedly across states and was strongest in the Midwest and South. Collectively, the mechanisms accounted for most of the association in all states, from 55% of it in North Dakota to 73% in Oklahoma. Economic (employment, income) and behavioral (smoking, obesity) mechanisms were key, but their contribution to the association differed systematically across states. In states with stronger education-health associations, economic conditions were the dominant mechanism linking education to health, but in states with weaker associations, the contribution of economic mechanisms waned and that of behavioral mechanisms rose.DiscussionMeaningful reductions in educational disparities in health, and overall improvements in health, may come from prioritizing access to employment and livable income among adults without a 4-year college degree, particularly in Southern and Midwestern states.

United States LS: Demand for GSE Eligible: Stronger: Net data was reported at -18.600 % in Apr 2018. This records a decrease from the previous number of -15.500 % for Jan 2018. United States LS: Demand for GSE Eligible: Stronger: Net data is updated quarterly, averaging 0.800 % from Jan 2015 (Median) to Apr 2018, with 14 observations. The data reached an all-time high of 48.300 % in Jul 2016 and a record low of -18.600 % in Apr 2018. United States LS: Demand for GSE Eligible: Stronger: Net data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.KA051: Senior Loan Officer Opinion Survey: Residential Mortgage Loans.

The Arts and Cultural Production Satellite Account (ACPSA) is produced through the partnership between the United States Bureau of Economic Analysis (BEA) and the National Endowment for the Arts (NEA). Built with the BEA's input-output (I-O) accounts, the ACPSA provides detailed statistics that illustrate the impact of arts and cultural production on the United States economy. Specifically, this account provides an assessment of the arts and cultural sector's contributions to gross domestic product (GDP).

For years 1998 to 2014, the ACPSA presents annual statistics about the following items: (1) Output of detailed arts and cultural commodities and the industries producing these commodities; (2) employment and compensation within these industries; (3) arts and cultural value added by industry; and (4) commodity-flow details for arts and cultural production products. In the data tables provided (click on "Other" in the Dataset(s) section), the statistics fall under two broad categories: (1) core arts and cultural production and (2) supporting arts and cultural production. The core category contains the commodities in which the output primarily contributes to arts and culture. Performing arts, museums, design services, and arts education are included in the core category. The supporting category consists of commodities that support the core category through publication, dissemination of the creative process, or other supportive functions. This category contains event promotion, printing, and broadcasting.

Six national-level data tables are provided for each year from 1998 to 2011:

• Table 1. Production of Commodities by Industry
• Table 2. Output and Value Added by Industry
• Table 3. Supply and Consumption of Commodities
• Table 4. Employment and Compensation of Employees by Industry
• Table 5. Total ACPSA-related Employment by Industry
• Table 6. Output by ACPSA Commodity

For the years 2012 to 2014, an additional seventh data table is added:

• Table 7. Real Output by Commodity

For years 2001-2014 a state-level employment data table is included. It contains estimates for each state annually of employment and compensation by industry, and comparisons with ACPSA employment and compensation by industry the same year. It also includes the annual total of employment in each state across the arts and cultural commodities industries.

In addition, estimates of real value added by industry and estimates of real gross output and prices indexes by ACPSA commodity are provided in separate Excel files (click on "Other" in the Dataset(s) section). The industries and commodities presented in the data are based on the 2007 North American Industrial Classification System (NAICS). Users are encouraged to review the Table Guide provided in the Dataset(s) section as it gives important information for all data tables. Also, users should review The NEA Guide to the U.S. Arts and Cultural Production Satellite Account and other related materials available on NEA's Arts Data Profile #12 and Arts Data Profile #13.

Key information about United States Gross National Product (GNP)

• United States Gross National Product (GNP) was reported at 7,347.016 USD bn in Sep 2024.
• This records an increase from the previous number of 7,269.154 USD bn for Jun 2024.
• US Gross National Product (GNP) data is updated quarterly, averaging 1,117.425 USD bn from Mar 1947 to Sep 2024, with 311 observations.
• The data reached an all-time high of 7,347.016 USD bn in Sep 2024 and a record low of 61.035 USD bn in Mar 1947.

• US Gross National Product (GNP) data remains active status in CEIC and is reported by CEIC Data.
• CEIC de-annualises quarterly Gross National Product. The Bureau of Economic Analysis provides annualised Gross National Product in USD. Seasonally adjusted auxiliary series is used since non-seasonally adjusted data is unavailable from the source.

Data replication files for "Economic Voting and State-Business Relations in OECD CountriesEconomic Voting and State-Business Relations in OECD Countries" (forthcoming)

Mexico City's GDP amounted to approximately 3.81 trillion Mexican pesos in 2023. During that year, the GDP of the city corresponded to 14.8 percent of the national gross domestic product. This share turned the capital into the federal entity with the largest contribution to Mexico's economic output. On the flip side, the eastern state of Tlaxcala only represented 0.6 percent of the national GDP.