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USA – GDP to 2028

USA – GDP to 2028

The GDP of the United States is expected to reach about 25.5 trillion US dollars in 2022. The GDP is expected to reach about 26.9 trillion US dollars for the year 2023. The statistic shows the GDP of the United States from 1980 to 2022 with projections Until 2028.
The United States remains the largest economy in the world, far ahead of China. But for how long?

China is in the fast lane

According to current IMF forecasts, the United States will be able to defend its first position in the next five years. However, there is no doubt that China will replace the United States as the world's largest economy in the medium term. A few years ago, forecasts like those from management consulting firm PricewaterhouseCoopers said China could overtake the United States in the not-too-distant future. However, China's growth has slowed somewhat during the coronavirus pandemic, and the country is also suffering from demographic problems. In terms of purchasing power parity, China has already overtaken the USA, but in terms of the absolute size of the economy, China is still far from overtaking the USA. In addition, the conflict between the United States and China continues to escalate, and the United States is specifically trying to impede the growth of strategic industries (such as semiconductors) in China.

What do the terms mean? gross domestic productEnvironment and sustainable developmentFor example?

  • gross domestic product
  • GDP refers to the total value of all goods and services produced in that year Within national borders (local concept) Manufactured and intended for end use. The nationality of the service provider does not matter as long as the service was created within the national territory. It is considered an important indicator of the economic strength of the state.

  • Gross national income
  • On the other hand, gross national income refers to the total value of all goods and services produced in the relevant year Residents (resident concept) Manufactured. The reference value is nationality, not national territory (as long as the first place of residence is still within the national territory). It is considered the most important indicator of income.

  • Gross national income
  • GNP is the old term for gross national income.