What share of global GDP does the economy of the United States produce?
The United States generates 26% of global economic output, making it the world's largest economy by nominal GDP. U.S. nominal GDP was estimated at $31.856 trillion in the first quarter of 2026.
When did the United States become the world's largest economy?
The United States has been the world's largest national economy since around 1890. It overtook the United Kingdom in nominal GDP in 1872 and in GDP per capita adjusted for purchasing power parity in 1905.
How severe was the economic impact of the COVID-19 pandemic on the United States?
U.S. GDP shrank at a quarterly annualized rate of 32.9% in the second quarter of 2020. The unemployment rate hit 14.7% by the 8th of May 2020, with 20.5 million jobs lost in April alone, and retail sales dropped a record 8.7% in March 2020.
How unequal is wealth distribution in the United States economy?
The top 1% of households controlled 38.6% of the country's wealth in 2016, up from approximately 24% in 1979. The bottom 25% of families had a median net worth of zero as of 2017.
What role does the U.S. dollar play in international trade and global reserves?
About 60% of funds used in international trade are denominated in U.S. dollars. Almost two thirds of all currency reserves held globally are in U.S. dollars, compared to around 25% for the euro, the next most popular reserve currency.
How does the United States compare to other advanced economies on worker protections?
The United States is the only advanced economy that does not legally guarantee paid vacation or paid sick days, and one of only a few countries without paid family leave as a legal right. In 2020, the International Trade Union Confederation gave the U.S. a score of 4 out of 5+, its third-lowest rating, on workers' rights.