GDP - Statistics & Facts
GDP: facts and statistics
The Gross Domestic Product (GDP) is an economic construct that measures a country’s production in a given amount of time. The GDP includes all goods and services produced in a country regardless of their purpose. It aggregates all private and public consumption, investment, government outlays and net exports. Mostly calculated on an annual basis, the GDP is one of the most commonly used indicators of economic activity. The GDP is a good measure of the absolute size of an economy but it is not adjusted for a country’s size, and thus not perfectly suited for country to country comparisons.
A construct often used to make the GDP comparable is the GDP per capita, which is derived by simply dividing the GDP by the number of the respective country’s residents. GDP per capita is often used as an indicator for a country’s standard of living and although not perfectly accurate, it provides a decent benchmark.
A concept closely related to the GDP is the Gross National Product (GNP) (also known as Gross National Income (GNI)). In contrast to the GDP, which measures production on a geographic basis, the GNP is calculated based on ownership. Hence, the production of a factory in India that is owned by an American company would be included in the GNP of the USA and in the GDP of India. GNP used to be the official measure of production in the U.S. but has been replaced by the GDP in 1991.
According to this GDP-based country ranking, the U.S. economy is still the largest economy in the world with a Gross Domestic Product of more than 17 trillion U.S. dollars. It is expected though that, given China’s GDP growth rates, the GDP of China will eventually outgrow the U.S. GDP within the next couple of years.
Ranking countries based on per capita GDP yields an entirely different result: In 2014, the three countries with the highest per capita GDP were Luxemburg, Norway and Qatar. The United States of America was ranked 9th behind countries as small as Denmark and Sweden. Meanwhile large, fast growing economies like India, Brazil and China are nowhere to be found in the Top 20.
Photo: istockphoto.com / sagadogo
|Gross Domestic Product of the U.S.||$18.04tr||Details →|
|Real GDP of the U.S. (in chained US-dollars)||$16,088.25bn||Details →|
|Annual growth of Real GDP of the U.S.||1.6%||Details →|
|GDP per capita in the U.S.||$54,360.5||Details →|
|GDP by Sector and Industry||Values||Statistic|
|Services' share of GDP in the U.S.||77.98%||Details →|
|Real gross value added to the U.S. GDP by business sector||$12,465.3bn||Details →|
|Real value added to U.S. GDP by government||$2,040.7bn||Details →|
|GDP by State and Metropolitan Area||Values||Statistic|
|GDP of California||$2,458.54 bn||Details →|
|Change in Real GDP of North Dakota||-2.1%||Details →|
|Per capita Real GDP of Alaska||$66,835||Details →|
|GDP of New York-Northern New Jersey-Long Island, NY-NJ-PA||$1,664bn||Details →|
|U.S. share of global GDP||15.9%||Details →|
|Luxembourg has highest GDP per capita||$105,829.05||Details →|
- Gross domestic product (GDP) of the United States 2020Gross domestic product (GDP) of the United States 2020
Gross domestic product (GDP) of the United States at current prices from 2010 to 2020 (in billion U.S. dollars)
- Gross domestic product (GDP) of China 2010-2021Gross domestic product (GDP) of China 2010-2021
China: gross domestic product (GDP) at current prices from 2010 to 2021 (in billion U.S. dollars)
- Gross domestic product (GDP) ranking by country 2016Gross domestic product (GDP) ranking by country 2016
Gross domestic product (GDP) ranking by country 2016 (in billion U.S. dollars)
- GDP per capita by country 2016GDP per capita by country 2016
The 20 countries with the largest gross domestic product (GDP) per capita in 2016 (in U.S. dollars)
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