View yearly updates and historical trends for US GDP as % of World GDP. from United States. Source: World Bank. Track economic data with YCharts analytics.

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.

In 2024 the real gross domestic product (GDP) of the United States increased by 2.8 percent compared to 2023.
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.

The average for 2023 based on 188 countries was 0.53 percent. The highest value was in the USA: 26.3 percent and the lowest value was in Andorra: 0 percent. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

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.

View economic output, reported as the nominal value of all new goods and services produced by labor and property located in the U.S.

United States US: GDP: % of Manufacturing: Medium and High Tech Industry data was reported at 41.166 % in 2015. This stayed constant from the previous number of 41.166 % for 2014. United States US: GDP: % of Manufacturing: Medium and High Tech Industry data is updated yearly, averaging 49.199 % from Dec 1990 (Median) to 2015, with 26 observations. The data reached an all-time high of 51.786 % in 1998 and a record low of 38.398 % in 1996. United States US: GDP: % of Manufacturing: Medium and High Tech Industry 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: Share of GDP. The proportion of medium and high-tech industry value added in total value added of manufacturing; ; United Nations Industrial Development Organization (UNIDO), Competitive Industrial Performance (CIP) database; ;

The Gross Domestic Product (GDP) in Georgia was worth 33.78 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Georgia represents 0.03 percent of the world economy. This dataset provides the latest reported value for - Georgia GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, exports of goods and services from the United States made up about eleven percent of its gross domestic product (GDP). This is an increase from 9.25 percent of GDP of the United States in 1990. U.S. exports The GDP of the United States is the largest in the world, clocking in at more than 20 trillion U.S. dollars in 2022. It is additionally one of the world's largest exporters, second only to China. United States exports surpassed three trillion dollars in 2022, its highest level ever. Balance of trade The balance of trade in the United States has been a longstanding topic of conversation among economists, business interests, and politicians. When a country imports more than it exports, this is known as a trade deficit. While large export industries have been present in the United States for many years, the U.S. trade deficit has been increasing and is the largest volume of any nation.

The Gross Domestic Product (GDP) in Armenia was worth 25.79 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Armenia represents 0.02 percent of the world economy. This dataset provides - Armenia GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 1938, the year before the Second World War, the United States had, by far, the largest economy in the world in terms of gross domestic product (GDP). The five Allied Great Powers that emerged victorious from the war, along with the three Axis Tripartite Pact countries that were ultimately defeated made up the eight largest independent economies in 1938.

When values are converted into 1990 international dollars, the U.S. GDP was over 800 billion dollars in 1938, which was more than double that of the second largest economy, the Soviet Union. Even the combined economies of the UK, its dominions, and colonies had a value of just over 680 billion 1990 dollars, showing that the United States had established itself as the world's leading economy during the interwar period (despite the Great Depression).

Interestingly, the British and Dutch colonies had larger combined GDPs than their respective metropoles, which was a key motivator for the Japanese invasion of these territories in East Asia during the war. Trade with neutral and non-belligerent countries also contributed greatly to the economic development of Allied and Axis powers throughout the war; for example, natural resources from Latin America were essential to the American war effort, while German manufacturing was often dependent on Swedish iron supplies.

The Gross Domestic Product (GDP) in Yemen was worth 19.10 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Yemen represents 0.02 percent of the world economy. This dataset provides the latest reported value for - Yemen GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

United States US: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data was reported at 1.799 % in 2017. This records an increase from the previous number of 1.276 % for 2016. United States US: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data is updated yearly, averaging 1.978 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 3.699 % in 1990 and a record low of 0.759 % in 2009. United States US: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.; ; World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.; ;

The Gross Domestic Product (GDP) in Kazakhstan was worth 288.41 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Kazakhstan represents 0.27 percent of the world economy. This dataset provides the latest reported value for - Kazakhstan GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, the United States had a real gross domestic product of about 23.3 trillion U.S. dollars (2017 chained). See the U.S. GDP for further information. Real Gross Domestic Product is an inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Real GDP in the U.S. The real GDP of the U.S. has increased from 9.37 trillion U.S. dollars (2012 chained) in 1990 to 22 trillion U.S. dollars in 2023. Like many of the worlds major economies, the United States has experienced a steady growth in GDP over the last few years. The Indian economy was expected to experienced growth of 9.4 percent between 2020 and 2021, while China’s GDP was expected to grow 8.1 percent in the same period. One of the defining qualities of the United States’ economy is its diversity and advanced technological advancements. Industries such as finance, real estate, health care, and business and education services are large contributors to the economy, while the manufacturing sector accounts for about 11 percent of the country’s wealth. The GDP generated by each state can also vary widely based on principal industries and production. In 2021, California had the highest state GDP in the United States, reaching 3.35 trillion U.S. dollars; comparatively, Vermont generated a GDP of 36.17 billion U.S. dollars in that year.

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.

CEIC calculates Private Consumption as % of Nominal GDP from quarterly Private Consumption Expenditure and quarterly Nominal GDP. The Bureau of Economic Analysis provides Private Consumption Expenditure in USD and Nominal GDP in USD.


Related information about United States Private Consumption: % of GDP

• 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.

Graph and download economic data for Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSGDA188S) from 1929 to 2024 about budget, federal, GDP, and USA.

The average for 2023 based on 154 countries was 0.65 percent. The highest value was in China: 11.76 percent and the lowest value was in Burundi: 0 percent. The indicator is available from 1990 to 2023. Below is a chart for all countries where data are available.

The gross domestic product (GDP) of California was about 4.1 trillion U.S. dollars in 2024, 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 45.71 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.

Graph and download economic data for Share of Labour Compensation in GDP at Current National Prices for United States (LABSHPUSA156NRUG) from 1950 to 2019 about compensation, labor, GDP, and USA.