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Overall, in the calendar year 2024, the United States' Nominal GDP at Current Prices totaled at $29.017 trillion, as compared to $25.744 trillion in 2022. The three U.S. states with the highest GDPs were California ($4.080 trillion), Texas ($2.695 trillion), and New York ($2.284 trillion).
The United States GDP was $24.8 trillion in 2021. [4] The United States has the largest economy globally and Canada ranks 9th at US$2.015 trillion. [5] The US share of the global market economy estimated at US$79.98 trillion, was c. 25% in 2018, which is down from 35% in 2005. [6]
On the whole, PPP per capita figures are less spread than nominal GDP per capita figures. [5] The rankings of national economies over time have changed considerably; the economy of the United States surpassed the British Empire's output around 1916, [6] which in turn had surpassed the economy of the Qing dynasty in aggregate output decades earlier.
The Trillion dollar club is an unofficial classification of the world's major economies with a gross domestic product (nominal GDP) of more than US$1 trillion per year. [ 1 ] [ 2 ] As of 2023, it included 19 countries.
The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020. ... as a recovering economy ...
The U.S. public debt was $909 billion in 1980, an amount equal to 33% of America's gross domestic product (GDP); by 1990, that number had more than tripled to $3.2 trillion – 56% of GDP. [371] In 2001 the national debt was $5.7 trillion; however, the debt-to-GDP ratio remained at 1990 levels. [372]
The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP). [a] GDP in 2014 Q1 decline was due to foreclosures and increased rates of household saving.
800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. ... $3 trillion could be injected into the U.S. economy without any federal spending by tweaking this corner of the mortgage market ...