On October 29, 1929, the U.S. experienced the most devastating stock market crash in it's history. The Wall Street Crash of 1929 set in motion the Great Depression, which lasted for twelve years and affected virtually all industrialized countries. In the United States, GDP fell to it's lowest recorded level of just 57 billion U.S dollars in 1933, before rising again shortly before the Second World War. After the war, GDP fluctuated, but it increased gradually until the Great Recession in 2008. Real GDP Real GDP allows us to compare GDP over time, by adjusting all figures for inflation. In this case, all numbers have been adjusted to the value of the US dollar in FY2012. While GDP rose every year between 1946 and 2008, when this is adjusted for inflation it can see that the real GDP dropped at least once in every decade except the 1960s and 2010s. The Great Recession Apart from the Great Depression, and immediately after WWII, there have been two times where both GDP and real GDP dropped together. The first was during the Great Recession, which lasted from December 2007 until June 2009 in the US, although its impact was felt for years after this. After the collapse of the financial sector in the US, the government famously bailed out some of the country's largest banking and lending institutions. Since recovery began in late 2009, US GDP has grown year-on-year, and reached 21.4 trillion dollars in 2019. The coronavirus pandemic and the associated lockdowns then saw GDP fall again, for the first time in a decade. As economic recovery from the pandemic has been compounded by supply chain issues, inflation, and rising global geopolitical instability, it remains to be seen what the future holds for the U.S. economy.

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.

United States US: GDP: Real: Final Consumption Expenditure: Household data was reported at 11,763.375 USD bn in 2016. This records an increase from the previous number of 11,450.431 USD bn for 2015. United States US: GDP: Real: Final Consumption Expenditure: Household data is updated yearly, averaging 6,202.208 USD bn from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 11,763.375 USD bn in 2016 and a record low of 2,951.010 USD bn in 1970. United States US: GDP: Real: Final Consumption Expenditure: Household data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Real. Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

During the "Golden Age of Capitalism", from 1950 to 1973, GDP grew by annual averages of just under five percent in Western Europe*, four percent in the U.S., and ten percent in Japan. This period of prosperity came to an end with the recession of 1973-1975, however GDP growth rates did not return to their previous levels when the recession ended, as growth was fairly sporadic in the 1970s and then much slower throughout the 1980s. From 1973 to 1987, GDP grew annually at just two fifth of the Golden Age's rate in Europe and Japan, while the U.S.' annual rates were somewhat closer.

One major difference between the two given periods was that the U.S. was the dominant and most influential economy of all developed (non-communist) countries in the 1950s and 1960s, however, the 1970s and 1980s saw Japan and the European Communities (led by West Germany and France) emerge as major economic powers in their own right. While the U.S. remained the most powerful country in the world, other developed nations became more economically autonomous, and began asserting their own influence internationally.

United States US: GDP: Real: Final Consumption Expenditure data was reported at 14,181.007 USD bn in 2016. This records an increase from the previous number of 13,845.233 USD bn for 2015. United States US: GDP: Real: Final Consumption Expenditure data is updated yearly, averaging 8,025.838 USD bn from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 14,181.007 USD bn in 2016 and a record low of 4,106.529 USD bn in 1970. United States US: GDP: Real: Final Consumption Expenditure data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Real. Final consumption expenditure (formerly total consumption) is the sum of household final consumption expenditure (formerly private consumption) and general government final consumption expenditure (formerly general government consumption). Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

The gross savings of the United States represented over 18 percent of its GDP in 2021. Despite some fluctuations, the savings rate was on a downward trend until 2009. In 2015, the gross savings rate reached its highest value since 1998. The value of gross savings as a share of the GDP has fallen in 2021.

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.

United States US: GDP: Real: Gross National Expenditure data was reported at 17,567.618 USD bn in 2016. This records an increase from the previous number of 17,279.383 USD bn for 2015. United States US: GDP: Real: Gross National Expenditure data is updated yearly, averaging 9,772.719 USD bn from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 17,567.618 USD bn in 2016 and a record low of 4,926.926 USD bn in 1970. United States US: GDP: Real: Gross National Expenditure data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Gross Domestic Product: Real. Gross national expenditure (formerly domestic absorption) is the sum of household final consumption expenditure (formerly private consumption), general government final consumption expenditure (formerly general government consumption), and gross capital formation (formerly gross domestic investment). Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Graph and download economic data for Real GDP per Hour Worked in the United States (DISCONTINUED) from 1970 to 2011 about per hour, real, GDP, and USA.

The Gross Domestic Product per capita in European Union was last recorded at 34601.03 US dollars in 2023. The GDP per Capita in European Union is equivalent to 274 percent of the world's average. This dataset provides the latest reported value for - European Union GDP Per Capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

GDP at purchaser's prices 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. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

GDP at purchaser's prices 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. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

Graph and download economic data for Federal Debt Held by Foreign and International Investors as Percent of Gross Domestic Product (HBFIGDQ188S) from Q1 1970 to Q4 2024 about foreign, debt, federal, GDP, and USA.

In the second quarter of 2022, the GDP of the U.S. had decreased by 0.6 percent before heading into the November midterm elections. Historically, the state of the economy has played an important role in U.S. elections.

Bahrain GDP for 2023 was 43.21 billion US dollars, a 2.65% decline from 2022.

• Bahrain GDP for 2022 was 44.38 billion US dollars, a 12.97% increase from 2021.
• Bahrain GDP for 2021 was 39.29 billion US dollars, a 13.48% increase from 2020.
• Bahrain GDP for 2020 was 34.62 billion US dollars, a 10.43% decline from 2019.

GDP at purchaser's prices 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. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

The 1973-1975 recession marked the end of a remarkably prosperous period for developed economies. Apart from the United States, who experienced a brief recession in 1969-70, the other nations had enjoyed a period of uninterrupted growth in the 25 years leading up to this event. Japan in particular had the fastest growth of any major economy. This ended, however, following the 1973 oil crisis, which saw the member states of the OAPEC (Organization of Arab Petroleum Exporting Countries) place an embargo on the nations who supported Israel during the Yom Kippur War, particularly the U.S., who supplied arms to Israel. As a result, oil prices quadrupled in some periods; the U.S. and most of its major economic partners then went into recession due to their dependency on oil imports. Additional factors exacerbated the effects of the recession in each country, such as the miners' strike in the United Kingdom, or Nixon's unstable economic policies in the early 1970s. It was not until 1976 when the major OECD economies would come out of their recession, although real GDP growth rates would not return to the consistent highs experienced in the 1950s and 1960s. Additionally, while GDP growth resumed within a few years, inflation rates and unemployment rates generally remained higher going into the 1980s.

GDP at purchaser's prices 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. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

Samoa: Gross Domestic Product, billions of U.S. dollars: Pour cet indicateur, La Banque mondiale fournit des données pour la Samoa de 1970 à 2023. La valeur moyenne pour Samoa pendant cette période était de 0.37 billion U.S. dollars avec un minimum de 0.05 billion U.S. dollars en 1970 et un maximum de 0.94 billion U.S. dollars en 2023.

GDP at purchaser's prices 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. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

Graph and download economic data for Real imports of services (B656RX1Q020SBEA) from Q1 1970 to Q4 2024 about imports, services, real, GDP, and USA.