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.
Value added to the gross domestic product of the United States in 2023, by industry
(in billion U.S. dollars)
Industry
Value added in billion U.S. dollars
Finance, insurance, real estate, rental, and leasing
5,656.5
Professional and business services
3,543.9
Government
3,107.4
Manufacturing
2,804.7
Educational services, health care, and social assistance
2,351.6
Retail trade
1,738.5
Wholesale trade
1,613.7
Information
1,475.1
Arts, entertainment, recreation, accommodation, and food services
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BEA. (March 27, 2024). Value added to the gross domestic product of the United States in 2023, by industry (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 11, 2024, from https://www.statista.com/statistics/247991/value-added-to-the-us-gdp-by-industry/
BEA. "Value added to the gross domestic product of the United States in 2023, by industry (in billion U.S. dollars)." Chart. March 27, 2024. Statista. Accessed December 11, 2024. https://www.statista.com/statistics/247991/value-added-to-the-us-gdp-by-industry/
BEA. (2024). Value added to the gross domestic product of the United States in 2023, by industry (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 11, 2024. https://www.statista.com/statistics/247991/value-added-to-the-us-gdp-by-industry/
BEA. "Value Added to The Gross Domestic Product of The United States in 2023, by Industry (in Billion U.S. Dollars)." Statista, Statista Inc., 27 Mar 2024, https://www.statista.com/statistics/247991/value-added-to-the-us-gdp-by-industry/
BEA, Value added to the gross domestic product of the United States in 2023, by industry (in billion U.S. dollars) Statista, https://www.statista.com/statistics/247991/value-added-to-the-us-gdp-by-industry/ (last visited December 11, 2024)
Value added to the gross domestic product of the United States in 2023, by industry (in billion U.S. dollars) [Graph], BEA, March 27, 2024. [Online]. Available: https://www.statista.com/statistics/247991/value-added-to-the-us-gdp-by-industry/