Gross domestic product (GDP) of the United States 2024

The statistic shows the gross domestic product (GDP) of the United States from 1984 to 2018, with projections up until 2024. The gross domestic product of the United States in 2018 amounted to around 20.58 trillion U.S. dollars. For comparison, the GDP of China had amounted to 10.43 trillion U.S. dollars, marking the second-largest economy in the world. See U.S. GDP per capita for more information.

The United States and the economy

The United States’ economy is by far the largest in the world; a status which can be determined by several key factors, one being gross domestic product: A look at the GDP of the main industrialized and emerging countries shows a significant difference between US GDP and the GDP of China, the runner-up in the ranking, as well as the followers Japan, Germany and France. Interestingly, it is assumed that China will have surpassed the States in terms of GDP by 2030, but for now, the United States is among the leading countries in almost all other relevant rankings and statistics, trade and employment for example. See the U.S. GDP growth rate here.

Just like in other countries, the American economy suffered a severe setback when the economic crisis occurred in 2008. The American economy entered a recession caused by the collapsing real estate market and increasing unemployment. Despite this, the standard of living is considered quite high; life expectancy in the United States has been continually increasing slightly over the past decade, the unemployment rate in the United States has been steadily recovering and decreasing since the crisis, and the Big Mac Index, which represents the global prices for a Big Mac, a popular indicator for the purchasing power of an economy, shows that the United States’ purchasing power in particular is only slightly lower than that of the euro area.

Gross domestic product (GDP) of the United States at current prices from 1984 to 2024

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Source

Release date

October 2019

Region

United States

Survey time period

1984 to 2018

Supplementary notes

* Estimate.

Figures have been rounded for the sake of a better understanding of the statistic.

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Statistics on "Economic Outlook United States"

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