Thematic data tables from WDI. World's GDP is $80,934,771,028,340 (nominal, 2017).. See also: GDP per Capita Over the 7 full quarters of the Trump Administration, real output has grown at a compound annual rate of 2.9 percent, compared to a compound annual growth rate of 2.3 percent during the preceding 4-year Presidential term. Population figures based on United Nations data. To avoid ambiguity and ensure clarity on which measure is being used, we recommend the following language to report fourth-quarter-to-fourth-quarter growth rates: For reporting annual-average-to-annual-average growth rates, we would recommend: Real GDP grew at a 3.1 percent over the four quarters of 2018. For the second consecutive year, economic growth precisely matched or narrowly exceeded the Administration’s own forecast, outperforming consensus forecasts in the process. Here we show you the progression of the GDP in United States. U.S. gross domestic product (GDP) by year is a good overview of economic growth in the United States. The two concepts provide somewhat different information. In 2018 (2017:Q4 to 2018:Q4), the U.S. economy grew at a rapid rate of 3.1 percent, the fastest pace for any calendar year since 2005, with output rising … On a year-over-year basis, real GDP grew 2.9 percent. It will likely be 2022 before the economy returns to its level at the end of 2019. Country. Online tool for visualization and analysis. Real gross domestic product (GDP) decreased at an annual rate of 31.4 percent in the second quarter of 2020, according to the “third” estimate released by the Bureau of Economic Analysis. Gross domestic product grew at a solid 4.1 percent pace in the second quarter, its best pace since 2014, boosting hopes that the economy is ready to break out of its decade-long slumber. Real investment in intellectual property products, up 10.8 percent, and grew at its fastest pace since 1999. Seven quarterly growth rates are needed to approximate the annual-average to annual-average growth rates, and three of those quarters (with a cumulative weight of 6/16) are in the preceding year. The economy, which slumped by 0.9% in 2017, is expected to grow by 1.9% in 2018 and 2019. Though there are merits to both approaches, the CEA generally prefers the fourth-quarter-to-fourth-quarter-growth rates (also known as Q4-to-Q4 growth rates), because they reflect only what happens in a given year, and CEA thinks that they are closer to what is meant intuitively in discussions of growth during a certain year. 2013", "Home - Regional - Quarterly by Province", "World Economic Outlook Database, October 2019", "Rodiklių duomenų bazė - Oficialiosios statistikos portalas", "GaWC – The World According to GaWC 2016", "Regional economic activity by gross domestic product, UK: 1998 to 2018", Total Gross Domestic Product for Los Angeles-Long Beach-Anaheim, Total Gross Domestic Product for Riverside-San Bernardino-Ontario, Total Gross Domestic Product for Oxnard-Thousand Oaks-Ventura, "GRPs of regions and Minsk city and their percentage shares in GDP in 2018", "Валовой региональный продукт::Мордовиястат", "U.S. metro areas – ranked by Gross Metropolitan Product (GMP) 2019 | Statistic", "Bruttoinlandsprodukt in den Metropolregionen in Deutschland 2014 | Statistik", https://ec.europa.eu/eurostat/documents/2995521/10474907/1-05032020-AP-EN.pdf/81807e19-e4c8-2e53-c98a-933f5bf30f58&ved=2ahUKEwi-u5GHnujpAhUOuIsKHaOlDG0QFjACegQIBRAJ&usg=AOvVaw0NnWnyaFRad5NgG3NGcbJP&cshid=1591276979492, "2.1. This impressive economic performance was not merely a continuation of trends already underway during the preceding expansion, but rather a marked acceleration of economic activity. The Administration’s official FY2018 forecast, finalized in November 2017, was for 2018 calendar year growth of 3.1 percent, compared to the consensus Blue Chip forecast of 2.3 percent, which was made in the same time period (November 2017). Following considerable volatility during the pre-2017 expansion, and after slowing in 2015 and 2016, real GDP growth since 2016:Q4 has been consistently strong. U.S. economic growth was better than expected as 2018 came to a close, with GDP rising 2.6 percent, according to a first estimate the Commerce Department released Thursday. The GDP figure in the second quarter of 2020 was €4,405,475$4,852,190 million, United States is the world's leading economy with regard to GDP, as can be seen in the ranking of quarterly GDP of the 50 countries that we publish. Figure 3 reports seasonally adjusted annual growth rates in real GDP by quarter over the current business cycle. The fourth-quarter-to-fourth-quarter growth rate in 2018 was 3.1 percent. Gross Domestic Product of United States fell 9.5 in the second quarter of 2020 compared to the previous quarter. Countries by Real GDP Growth Rate in 2018 (Data from IMF WEO Database, April 2020) This article includes a lists of countries and dependent territories sorted by their real gross domestic product growth rate ; the rate of growth of the value of all final goods and services produced within a state in a given year. CSV XML EXCEL. This is a list of cities in the world by gross domestic product (GDP).The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. In the first quarter of 2020, real GDP decreased 5.0 percent. Gross private domestic investment, just 17 percent of GDP at the start of the year, accounted for 36 percent of the growth in real GDP in 2018. Achieving 3.1 percent growth in 2018 therefore marks the second consecutive year that the U.S. economy has exceeded consensus forecasts. The 1.1 percentage point performance above trend is almost exactly in line with peer-reviewed estimates of an exogenous tax shock of the same magnitude as the Tax Cuts and Jobs Act, as reported in Mertens (2018), and is consistent with the Administration’s own estimates of the effects of the law. U.S. GDP by Year Since 1929 Compared to Major Events . You can see GDP in other countries in GDP and see all the economic information about United States in United States's economy. In contrast, the fourth-quarter-to-fourth-quarter growth rates reflect only what happened during the specified year, and can be approximated by averaging the growth rates of the four quarters of the year. In contrast, annual-average-to-annual-average growth rates are affected by real GDP growth in the final three quarters of the preceding year, and as an artifact of the arithmetic, some quarters are weighted more heavily than others. 19. Figure 1 reports that during the entire post-recession expansion from 2009:Q3 through 2016:Q4, the U.S. economy grew at a compound annual rate of just 2.2 percent. Even following passage of the Tax Cuts and Jobs Act, the January 2018 consensus forecast for 2018 growth was only 2.6 percent. Real GDP grew 3.1 percent from the fourth quarter of 2017 to the fourth quarter of 2018. The year-on-year change in GDP was -32.9%, 279 -tenths of one percent less than the … Looking forward, we estimate GDP Growth Rate in the United States to stand at 2.50 in 12 months time. GDP in … In the long-term, the United States GDP Growth Rate is projected to trend around 1.70 percent in 2021 and 1.90 percent in 2022, according to our econometric models. GDP: linked series (current LCU) GDP, PPP (constant 2017 international $) GDP (current LCU) GDP, PPP (current international $) GDP per capita growth (annual %) Download. This rate is 82 If we order the countries according to their GDP per capita, United States is in 6th position of the 50 countries whose quarterly GDP we publish. As reported in Figure 2, 2018 also marks the second consecutive year in which the U.S. economy has exactly matched or narrowly exceeded the Administration’s own growth forecasts, in contrast to the consistent overestimation of growth by the preceding Administration. WDI Tables. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. This is a list of cities in the world by gross domestic product (GDP). Gross Domestic Product of United States fell 9.5 in the second quarter of 2020 compared to the previous quarter. ... For the 2018 comprehensive update, real estimates were rebased from chained (2005) dollars to chained (2012) dollars. This rate is 82 -tenths of one percent less than in the previous quarter, when changed -1.3%. Click on the headers to reorganize columns. The annual-average-to-annual-average growth rates reflect what happened in the preceding year as well as what happened during the year in question. In 2018, its nominal GDP was $782.48 billion, while its GDP based on PPP was $1.86 trillion. In 2018 (2017:Q4 to 2018:Q4), the U.S. economy grew at a rapid rate of 3.1 percent, the fastest pace for any calendar year since 2005, with output rising by $560 billion over the four quarters of the year. Expect 2020 GDP to decline 4.9%, with a 3.8% rise in 2021. Latest official GDP figures published by the World Bank. The year-on-year change in GDP was -32.9%, 279 Overall, U.S. economic output in 2018 was instead $280 billion larger than if the pre-2017 trend had continued. The change was 0.3 percentage point higher than the “second” estimate released in August. All Countries and Economies. [3] The methodology of calculating GDP may differ between the studies and are widely based on projections and sometimes approximate estimations, notably for cities that are not within the Organisation for Economic Co-operation and Development. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. The year-to-year growth rate was 2.9 percent. Evolution: GDP growth rate at constant prices United States, less than the same period last year, when it was, United States (USA) GDP - Gross Domestic Product, Subscribe to our free email alert service, ‹ United Kingdom (UK) GDP - Gross Domestic Product, In August of 2020, Industrial Production went up in Germany, Industrial Production increases up to -6% in August of 2020 in Spain, In September of 2020, Producer price fell in Croatia, In August of 2020, Industrial Production fell in Czech Republic, In August of 2020, Industrial Production went up in Denmark, Industrial Production goes down in August of 2020 in Luxembourg, Industrial Production goes up in August of 2020 in Norway, CPI falls in September of 2020 in El Salvador, September of 2020 CPI went up in Costa Rica, Fewer September passenger car sales in Brazil, September of 2020 CPI went up in Luxembourg, Industrial Production goes up in August of 2020 in Hungary, In August of 2020, Industrial Production went up in Sweden. Annual GDP growth rates are commonly reported in two ways: 1) from annual average (i.e., an average across all four quarters in a given year) to annual average and 2) from fourth quarter to fourth quarter. Refer to sources for more information. The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. Each of the columns in the table is sortable by pressing on the arrows at the head of the column: GDP-2019 is a preliminary data, and GDP-2018 is a revision based on the 2018 CASEN: Singapore GDP in 2011 estimate is 326.8 Billion SGD, which is equivalent to 263.6 Billion USD using 3 February 2013 exchange rate, Organisation for Economic Co-operation and Development, List of metropolitan areas in the European Union by GDP, List of most expensive cities for expatriate employees, List of country subdivisions by GDP over 200 billion USD, "GDP Implicit Price Deflator in United States", "Composition of macro geographical (continental) regions, geographical sub-regions, and selected economic and other groupings", "Posição ocupada pelos maiores municípios brasileiros em relação ao Produto Interno Bruto, Est. Gross Domestic Product | Stratēģijas Uzraudzības Sistēma", "US DOLLAR RATES FOR 12/31/2013 / BRAZILIAN REAL", https://s.askci.com/news/hongguan/20200310/0901391157813.shtml, "Shanghai first Chinese city to top 3 trillion yuan GDP", "Shenzhen economic expansion dwarfs growth in Hong Kong and Singapore", "Surabaya Urban Area (Surabaya + Gresik + Sidoarjo)", "საქართველოს სტატისტიკის ეროვნული სამსახური", https://www.tel-aviv.gov.il/en/WorkAndStudy/Pages/Why-Tel-Aviv.aspx, "Total Real Gross Domestic Product for Wichita, KS (MSA)", https://en.wikipedia.org/w/index.php?title=List_of_cities_by_GDP&oldid=982456777, Articles with dead external links from March 2020, Articles with permanently dead external links, Short description is different from Wikidata, Articles lacking reliable references from June 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 8 October 2020, at 08:03.