There are three different ways to calculate gross domestic product: the expenditure approach, the value-added approach, and the income approach.

Gross domestic product only accounts for consumer spending, investments, government spending, and net exports—meaning factors such as stock market performance, Social Security payments, household labor, and the value of environmental damage largely aren't represented.

In the wake of the Great Depression, a Russian-American economist named Simon Kuznets popularized the formula for gross domestic product to summarize the health of the economy and provide the American government with a metric to track growth.

A list of the world's top 25 economies by GDP

Gross domestic product estimates the value of goods and services produced in a country, typically through the expenditure method, which adds up spending by consumers, investors and governments with the value of exports. The top five economies are the US, China, Germany, Japan and India.

Learn how 'real' and 'nominal' gross domestic product differ, with real GDP being adjusted for inflation and nominal GDP reflecting current monetary values.

Explore a breakdown of the US gross domestic product, including GDP's growth over time, the GDP of individual states, and which industries contribute the most to US GDP.

Consumer spending accounts for 70% of America's gross domestic product.

See a breakdown of every state's portion of the entire US gross domestic product.

At $159K, Luxembourg has the world's highest GDP per capita (also known as GDP per person) as of June 2026.

US state economies compared to entire countries

This map compares US state economies by their gross domestic product to that of a similarly sized country. For instance, California has the largest state economy in the US, with a GDP nearly equal to that of India, the fifth-largest economy in the world. Click here to see how the rest of the states compare.

Ranking the world’s economies: 1980 vs. 2025

The US remains the world’s largest economy, having increased its annual gross domestic product from $2.9T in 1980 to $30.6T in 2025. In 1980, China ranked seventh globally with a GDP of $304B. In 2025, China ranked second with a GDP of $19.4T.

See comparisons of different countries' taxation strategies

Taxes are a major revenue source for most countries, and how each government taxes citizens often reflects the country's economy. Developed countries tax at much higher rates than developing ones, and as a country grows its GDP, it also typically grows the proportional percentage of taxes it gains from its citizens.

There's no single definition of an economic recession, though recessions are commonly identified by two consecutive quarters of shrinking gross domestic product.

It's tough to measure just how much the global commodities market is worth

That's partly because of all the different ways and places commodities are traded—such as futures exchanges, spot markets, and over-the-counter deals. Additionally, the same commodity can be traded multiple times in different markets, making it easy to risk duplicating trade values in calculations.

See a breakdown of how each country contributes to the world's $126T economy.

After the COVID-19 pandemic, Amsterdam became the first city to apply 'doughnut economics,' a new economic school of thought that defines productivity in terms of environmental impact.

Check the current Consumer Price Index

The Consumer Price Index is a metric that attempts to capture price changes felt by consumers by averaging a basket of about 80,000 items, each weighted to reflect the impact of changes on households.

Visualizing $102T of global debt

Which countries have the most debt? And how does it stack up against their gross domestic product? This visualization, based on data from the International Monetary Fund’s October 2024 outlook, has answers.

The roughly 11 countries in BRICS, an economic coalition created to counter the G7, collectively hold about 40% of global gross domestic product when adjusted for purchasing power parity.

In 2025, the US credit rating was downgraded over concerns about the debt-to-GDP ratio.

Calculate your capital gains tax bill

If mental math is not your forte, a handy tool can help you figure out what you owe at tax time. Find the purchase and sales price of an asset, your taxable income, your tax filing status, and the length of time you held said asset, and you'll get your total for Uncle Sam.

One signal that a recession has become a depression? When GDP declines more than 10%

There’s no single definition for recessions or depressions, but both are marked by sustained periods of declining economic activity. Depressions are more severe than recessions.

The global creator economy is worth roughly $250B

That number is derived from multiple sources (such as brand deals and affiliate links), and the projections for how much the creator economy will be worth in the future are even more complicated.

Individual income taxes are the federal government's primary revenue source, see a tracker that breaks down where the rest of the budget comes from

The US government historically makes nearly half of its total revenue last year from individual income taxes. But the US makes also makes money from a variety of other sources, including Medicare taxes and corporate income taxes. However, the federal government has run a deficit since 2001—reaching a peak of $3.13T in 2020.

Explore 'The Big Mac Index,' an economic indicator created by The Economist as a cheeky reference for the purchasing power of consumers across different countries (paywall may apply).

Use this calculator to find out what your federal income taxes pay for

In the fiscal year 2024, the US federal government's biggest spending priorities included $1.5T on Social Security, $877B on national defense, and $874B on Medicare. This calculator from the Microsoft AI for Good Lab can help you estimate how your tax dollars are allocated across $6.8T in federal spending.

Vizualize global debt by country

Global debt reached $226T by the end of 2020—the biggest one-year jump since World War II. This graphic compares the debt-to-GDP ratio of various countries.

Visualizing the world's wealth in 2019

The world has a net worth of $360T. The U.S. economy continues to dominate given its sheer size, Asia and Europe are not that far behind.

Explore internet usage data, including how humans consume 1.2 billion years of content yearly

About half this time consists of content from social media platforms, where the average user spends about 18.5 hours weekly. An estimated $3.66T was spent on consumer goods by online shoppers in 2025, though nonconsumer goods, such as flights and hotel stays, greatly increase this estimate.

Explore which sectors produce the most greenhouse gas emissions by country

As of 2023, the energy sector, including electricity and heating, accounts for the largest share of greenhouse gas emissions. The 10 largest greenhouse gas-emitting nations account for two-thirds of global emissions, with the world's top three—China, the US, and India—contributing 15 times more than the bottom 100.

Watch Ray Dalio explain how the economy works

Dalio describes the economy as a machine that runs on three main cycles: productivity growth, the short-term debt cycle, and the long-term debt cycle. Dalio says layering these three cycles on top of each other essentially creates a template for understanding changes in the economy.

A recession is commonly defined as two straight quarters of shrinking GDP

Recessions are sustained downturns in the economy. They’re significant, widespread, and there’s no single, surefire way to define or predict them.

Consumer spending accounts for 70% of US GDP, making Black Friday significant

Lizabeth Cohen, a history professor at Harvard and author of the book “A Consumer's Republic: The Politics Of Mass Consumption In Postwar America,” has argued that the US government has presented consumerism as a way out of economic crisis or decline since around World War II.

Calculate creator economy platform costs

The creator economy continues to be an attractive way to earn money for many people. While many platforms exist to help creators monetize their work, each has different feature sets and pricing models. This calculator helps workers decide which platform works best for them.

What something costs is reflective of a balance in the market determined by the amount of demand relative to the supply of goods and services

Because economies are complex systems, a wide variety of issues influence this balance—including some things generally considered to be positive, like rising wages.

'And it can tell us everything about America except why we are proud that we are Americans:' Hear Robert Kennedy's famous 1968 speech criticizing gross domestic product as the primary benchmark for American growth.

Global trade volume is roughly 45 times what it was when the General Agreement on Tariffs and Trade was founded

Since 1950, world trade values have grown nearly 410 times, mainly due to the successive tariff reductions negotiated under GATT and the WTO.

The US Bureau of Labor Statistics releases a monthly 'jobs report' that tracks the unemployment rate, the number of Americans currently on payroll, and more.

The impact of greenhouse gases is assessed as a measure of Global Warming Potential

Since 1990, the Intergovernmental Panel on Climate Change has used GWP to measure how much energy 1 metric ton of a gas emits over a given period—usually 100 years—relative to 1 metric ton of carbon dioxide. By definition, carbon dioxide has a GWP of 1.