What industry contributes most to GDP?
On the more detailed and specific industry level, the real estate industry ranked No. 1 as the industry with the largest GDP in Q1 2021, at more than $4 trillion ($4,008,708,000,000).
What industry makes up 22% of our GDP?
| Industry | Percentage of GDP |
|---|---|
| Finance, insurance, real estate, rental, and leasing | 22.3% |
| Professional and business services | 12.8% |
| Government | 12.6% |
| Manufacturing | 10.8% |
What is the US GDP composition by sector?
Economy of the United States
| Statistics | |
|---|---|
| GDP growth | 2.9% (2018) 2.3% (2019) −3.5% (2020) 5.7% (2021) 4.4 (2022e) |
| GDP per capita | $74,725 (est 2022) |
| GDP per capita rank | 7th (nominal; 2022) 8th (PPP; 2022) |
| GDP by sector | Agriculture: 0.9% Industry: 18.9% Services: 80.2% (2017 est.) |
What contributes to the United States GDP?
The four components of gross domestic product are personal consumption, business investment, government spending, and net exports.
What is the United States leading industry?
1. Real Estate, Renting, and Leasing. Real Estate, renting, and leasing constitutes the largest sector of the United States’ economy with the GDP value added of $1.898 trillion accounting for 13% of the national GDP.
What is GDP by state?
Gross domestic product by state is the market value of goods and services produced by the labor and property located in a state. GDP by state is the state counterpart of the nation’s gross domestic product, the Bureau’s featured and most comprehensive measure of U.S. economic activity.
What is the breakdown of gross domestic product by industry?
An industry-by-industry breakdown of gross domestic product. In addition to showing each industry’s contribution to the U.S. economy, known as its value added, these statistics include industries’ compensation of employees, gross operating surplus, and taxes.
What is Bea’s gross domestic product by state?
Complete information on the sources and methods for the estimation of BEA’s Gross Domestic Product by State. Gross domestic product by state is the market value of goods and services produced by the labor and property located in a state.
Does GDP by state capture geographic differences in prices?
However, real GDP by state does not capture geographic differences in the prices of goods and services that are produced and sold locally. GDP by state statistics provide a framework for analyzing current economic conditions in each state and can serve as a basis for decisionmaking. For example: