Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.[2]
Overall, in the calendar year 2024, the United States' Nominal GDP at Current Prices totaled at $29.017 trillion, as compared to $25.744 trillion in 2022.
The three U.S. states with the highest GDPs were California ($4.080 trillion), Texas ($2.695 trillion), and New York ($2.284 trillion). The three U.S. states with the lowest GDPs were Vermont ($45.4 billion), Wyoming ($53.0 billion), and Alaska ($69.8 billion).
GDP per capita also varied widely throughout the United States in 2024, with New York ($117,332), Massachusetts ($110,561), and Washington (state) ($108,468) recording the three highest GDP per capita figures in the U.S., while Mississippi ($53,061), Arkansas ($60,276), and West Virginia ($60,783) recorded the three lowest GDP per capita figures in the U.S. The District of Columbia, though, recorded a GDP per capita figure far higher than any U.S. state in 2024 at $263,220.
The Bureau of Economic Analysis (BEA) collects GDP data for four U.S. territories (American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands) separately from the states and the District of Columbia. Data for the U.S. territories is from the World Bank for GDP, GDP per capita and the real growth.[4][5][6][7][8][9][10][11]
Territory
Nominal GDP at Current Prices (millions of U.S. dollars)