Nominal US GDP by Year 8-16-24

This update includes revisions published by BEA. The 2020 data shows 3 revisions. 

US Nominal GDP by Year

Year      $ NGDP   

2018  20.53306T

2019  21.38098T

2020  21.06047T est Feb 2020

2020  20.93T final Dec 31 2020..

2020  22.31T current data.

2021  23.315T

2022  25.462T

2023 was 26.949T

2024 was 28.269T

https://www.google.com/search?q=did+us+nominal+gdp+decrease+in+2020&oq=did+us+nominal+gdp+decrease+in+2020&aqs=chrome..69i57j33i160.21490j0j7&sourceid=chrome&ie=UTF-8

The 2020 decrease reflected Covid 19 shutdowns. The US Nominal GDP was reported as $22.31T and was revised down to $20.93T.

Current-dollar GDP decreased 2.3 percent, or $500.6 billion, in 2020 to a level of $20.93 trillion, compared with an increase of 4.0 percent, or $821.3 billion, in 2019 (tables 1 and 3).Jan 28, 2021  US 2020 ngdp was 20.93T

Current-dollar GDP increased 9.2 percent, or $2.15 trillion, in 2022 to a level of $25.46 trillion, compared with an increase of 10.7 percent, or $2.25 trillion, in 2021 (tables 1 and 3).

US 2021 ngdp was 23.31T.

https://www.bea.gov/news/2023/gross-domestic-product-fourth-quarter-and-year-2022-advance-estimate#:~:text=Current%2Ddollar%20GDP%20increased%209.2,(tables%201%20and%203).

Norb Leahy, Dunwoody GA Tea Party Leader