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 20 trillion U.S. dollars in 2022. 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.