In 2023, the mining, quarrying, and oil and gas extraction industry added 170.97 billion chained 2017 U.S. dollars of value to the Texas GDP. The total value added to the GDP of Texas from all industries came to around 2.1 trillion chained 2017 U.S. dollars in the same year.

Graph and download economic data for Real Gross Domestic Product: All Industry Total in Texas (TXRGSP) from 1997 to 2023 about GSP, TX, real, industry, GDP, and USA.

Graph and download economic data for Gross Domestic Product: Private Industries in Texas (TXPINGSP) from 1997 to 2023 about GSP, private industries, TX, private, industry, GDP, and USA.

Graph and download economic data for Gross Domestic Product: Information (51) in Texas (TXINFONQGSP) from Q1 2005 to Q3 2024 about information, GSP, private industries, TX, private, industry, GDP, and USA.

2.436.345,6 (million US dollars) in 2023Q1. Gross state product (GSP). A measurement of a state's output; it is the sum of value added from all industries in the state. GSP is the state counterpart to the Nation's gross domestic product (GDP). Value added. The gross output of an industry or a sector less its intermediate inputs; the contribution of an industry or sector to gross domestic product (GDP). Value added by industry can also be measured as the sum of compensation of employees, taxes on production and imports less subsidies, and gross operating surplus.

In 2023, the finance, real estate, insurance, rental, and leasing industry added the most value to the GDP of the United States. In that year, this industry added 5.66 trillion U.S. dollars to the national GDP.

Gross Domestic Product

Gross domestic product is a measure of how much a country produces in a certain amount of time. Countries with a high GDP tend to have large economies, for example, the United States. However, GDP does not take into consideration the cost of living and inflation rates, so it is not a good measure of the standard of living. GDP per capita at purchasing power parity is thought to be more reflective of living conditions within a particular country.

U.S. GDP

California added the largest amount of value to the real GDP of the U.S. in 2022. California was followed by Texas and New York. In California, the professional and business services industry was the most valuable to GDP in 2022. In New York, the finance, insurance, real estate, rental, and leasing industry added the most value to the state GDP. While the business sector added the highest value to the U.S. real GDP in 2021, it was the information industry that had the biggest percentage change in value added to the GDP between 2010 and 2021.

Graph and download economic data for Gross Domestic Product: Oil and Gas Extraction (211) in Texas (TXOILGASNGSP) from 1997 to 2023 about extraction, oil, mining, gas, GSP, private industries, TX, private, industry, GDP, and USA.

Graph and download economic data for Gross Domestic Product: All Industries in Travis County, TX (GDPALL48453) from 2001 to 2023 about Travis County, TX; Austin; TX; industry; GDP; and USA.

Graph and download economic data for Gross Domestic Product: All Industries in Midland County, TX (GDPALL48329) from 2001 to 2023 about Midland County, TX; Midland; TX; industry; GDP; and USA.

Graph and download economic data for Gross Domestic Product: All Industries in Collin County, TX (GDPALL48085) from 2001 to 2023 about Collin County, TX; Dallas; TX; industry; GDP; and USA.

Graph and download economic data for Gross Domestic Product: All Industries in Grayson County, TX (GDPALL48181) from 2001 to 2023 about Grayson County, TX; Sherman; TX; industry; GDP; and USA.

Graph and download economic data for Total Gross Domestic Product for Dallas-Fort Worth-Arlington, TX (MSA) (NGMP19100) from 2001 to 2023 about Dallas, TX, industry, GDP, and USA.

U.S. spending on private construction continued to grow in 2024 and was over three times larger than construction spending in the public sector. Texas and California were at the top of the ranking when observing construction spending within the 50 U.S. states. According to a forecast, the value of U.S. construction put in place is expected to keep rising until 2025. Road construction spending: predicted to grow The value of road construction until 2026 was expected to reach the highest recorded values since 2005. However, data suggest that the United States still needs to catch up. When comparing infrastructure spending as share of GDP across various countries worldwide, the average spending of the United States was much lower than that of many other countries. How much have U.S. construction costs changed? Construction costs for housing varied significantly per city, with single-family homes in Honolulu, San Francisco and New York among the most expensive. During the past years, building costs grew in most of the U.S. big cities at a fast pace. Whilst there are many reasons why this occurred – supply and demand, or local zoning rules making it difficult to build – there is one that became especially noticeable in the past years: the prices of many important building materials went up significantly.

This graph shows a forecast of the gross domestic product of the United States of America for fiscal years 2024 to 2034. GDP refers to the market value of all final goods and services produced within a country in a given period. According to the CBO, the United States GDP will increase steadily over the next decade from 28.18 trillion U.S. dollars in 2023 to 41.65 trillion U.S. dollars in 2034. The annual GDP of the United States for recent years can be found here. Also, view the monthly inflation rate for the country.

In 2023, Chinese exports of trade goods to the United States amounted to about 427.23 billion U.S. dollars; a significant increase from 1985 levels, when imports from China amounted to about 3.86 billion U.S. dollars. U.S. exports to China Compared to U.S. imports from China, the value of U.S. exports to China in 2020 amounted to 427.23billion U.S. dollars. China is the United States’ largest trading partner, while China was the United States third largest goods export market. Some of the leading exports to China in the agricultural sector included soybeans, cotton, and pork products. Texas was the leading state that exported to China in 2020 based on total value of goods exports, at 16.9 billion U.S. dollars. U.S. - China trade war The trade war between the United States and China is an economic conflict between two of the world’s largest national economies. It started in 2018 when U.S. President Donald Trump started putting tariffs and trade barriers on China, with the intent to get China to conform to Trump’s wishes. President Trump claimed that China has unfair trade businesses. As a result of this trade war, it has caused a lot of tension between the U.S. and China. Nearly half of American companies impacted by the U.S.-China trade tariffs said that the trade war increased their cost of manufacturing. The healthcare product industry has suffered the most from the trade war in regards to reduced profits.