In most years since 1980, global GDP growth has been relatively consistent, generally fluctuating between two and five percent growth from year to year. The most notable exceptions to this were during the Great Recession in 2009, and again in 2020 during the Covid-19 pandemic, where the global economy actually shrank in both of these years. As the world economy continues to deal with the economic impact of the pandemic, as well as the fallout from Russia's invasion of Ukraine in 2022, the future remains uncertain, however current estimates suggest that annual growth will return to steady figures of around 3 percent in 2029.

The average for 2023 based on 184 countries was 0.54 percent. The highest value was in the USA: 26.47 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.

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.

This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

India: Percent of world GDP: The latest value from 2023 is 3.41 percent, an increase from 3.34 percent in 2022. In comparison, the world average is 0.54 percent, based on data from 184 countries. Historically, the average for India from 1980 to 2023 is 2.01 percent. The minimum value, 1.09 percent, was reached in 1993 while the maximum of 3.41 percent was recorded in 2023.

Global real gross domestic product (GDP) growth is estimated to remain around ***** percent until 2025. While the increase is expected to be only *** percent in the Euro Area in 2024, it is estimated to grow by over **** percent in emerging and developing Asia.

Graph and download economic data for Constant GDP per capita for the World (NYGDPPCAPKDWLD) from 1960 to 2024 about World, per capita, real, and GDP.

U.S. GDP for 2023 was 27.721 trillion US dollars, a 6.59% increase from 2022.

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

<li>U.S. GDP for 2022 was <strong>26.007 trillion US dollars</strong>, a <strong>9.82% increase</strong> from 2021.</li>
<li>U.S. GDP for 2021 was <strong>23.681 trillion US dollars</strong>, a <strong>10.9% increase</strong> from 2020.</li>
<li>U.S. GDP for 2020 was <strong>21.354 trillion US dollars</strong>, a <strong>0.86% decline</strong> from 2019.</li>
</ul>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 Gross Domestic Product (GDP) in the United States was worth 29184.89 billion US dollars in 2024, according to official data from the World Bank. The GDP value of the United States represents 27.49 percent of the world economy. This dataset provides - United States GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Sweden: Percent of world GDP: The latest value from 2023 is 0.56 percent, a decline from 0.58 percent in 2022. In comparison, the world average is 0.54 percent, based on data from 184 countries. Historically, the average for Sweden from 1980 to 2023 is 0.85 percent. The minimum value, 0.56 percent, was reached in 2023 while the maximum of 1.31 percent was recorded in 1980.

New Zealand: Percent of world GDP: The latest value from 2023 is 0.24 percent, a decline from 0.25 percent in 2022. In comparison, the world average is 0.54 percent, based on data from 184 countries. Historically, the average for New Zealand from 1980 to 2023 is 0.22 percent. The minimum value, 0.16 percent, was reached in 2000 while the maximum of 0.26 percent was recorded in 2017.

This statistic shows the growth of the gross domestic product (GDP) in selected countries from 2019 to 2029. According to the forecast, the GDP of Germany will grow by 0.15 percent in 2024.

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.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. The Bureau of Economic Analysis provides Nominal GDP in USD.

The Gross Domestic Product (GDP) in Iran was worth 436.91 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Iran represents 0.41 percent of the world economy. This dataset provides - Iran GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in South Korea was worth 1712.79 billion US dollars in 2023, according to official data from the World Bank. The GDP value of South Korea represents 1.62 percent of the world economy. This dataset provides - South Korea GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Graph and download economic data for Constant GDP per capita for Low Income Countries (NYGDPPCAPKDLIC) from 1980 to 2024 about per capita, income, and GDP.

Graph and download economic data for Gross Domestic Product for Developing Countries in Europe and Central Asia (NYGDPMKTPCDECA) from 1987 to 2024 about Central Asia, Europe, and GDP.

Key information about India Real GDP Growth

• The Gross Domestic Product (GDP) in India expanded 4.4 % YoY in Dec 2022, following a growth of 6.3 % in the previous quarter.
• Real GDP Growth YoY data in India is updated quarterly, available from Jun 2005 to Dec 2022, with an average rate of 7.2 %.
• The data reached an all-time high of 21.6 % in Jun 2021 and a record low of -23.4 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. Ministry of Statistics and Programme Implementation provides Real GDP in local currency based on SNA 2008, at 2011-2012 prices. Real GDP prior to Q2 2012 is based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices.


Related information about India Real GDP Growth

• In the latest reports, Nominal GDP of India reached 844.6 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.6 % in Dec 2022.
• GDP Per Capita in India reached 2,301.4 USD in Mar 2022.
• Its Gross Savings Rate was measured at 30.2 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 28.4 % in Dec 2022.
• Public Consumption accounted for 9.0 % in Dec 2022.
• Private Consumption accounted for 63.3 % in Dec 2022.

Graph and download economic data for Gross Domestic Product for the Arab World (NYGDPMKTPCDARB) from 1961 to 2024 about Arab World and GDP.