The U.S. GDP by industry in 2023 is projected to be $20,520 billion, a 6.3% increase from $19,440 billion in 2022. The following sections provide more information about the projected growth rates of each industry:
Business Services
Business services include a variety of professional services such as accounting, law and engineering. These industries are among the largest in the U.S. economy, with over $1 trillion in output each year.
Real Estate
Real estate is one of the largest industries in the United States. It has been for decades and will likely continue to be so for years to come. In fact, real estate was responsible for $1 trillion worth of new construction projects in 2017 alone. This industry includes residential development (apartments and homes), commercial property management, rental properties and more–and it touches every single person who lives here!
Manufacturing
Manufacturing is a major industry in the United States, accounting for 12.2% of GDP in 2023. Output is expected to grow by 2.9% year-on-year in 2023, while employment grows by 1.7%.
Resource, Agriculture & Transportation
Resource, Agriculture & Transportation
- Mining (except oil and gas)
- Fishing, hunting and trapping
- Agriculture, forestry, fishing and hunting
- Transportation (except air transportation), warehousing & utilities
Health, Social & Education Services
Healthcare services are a major part of the U.S. economy, accounting for $1 trillion in spending and employing more than 2 million people in 2018. The industry includes hospitals, doctors’ offices and clinics that provide healthcare services directly to patients; nursing homes that provide long-term care; home health agencies that provide assistance with activities such as dressing and bathing; outpatient care centers where procedures such as x-rays or physical therapy are performed; laboratories that perform tests on specimens taken from patients’ bodies (such as blood samples); diagnostic imaging centers that use X-rays or other equipment to create images of internal organs so they can be viewed by physicians remotely rather than requiring an office visit; retail pharmacies like CVS/pharmacy or Walgreens/Duane Reade where consumers can purchase prescription drugs without seeing their doctor first; medical device manufacturers who supply equipment used during surgeries conducted at hospitals or clinics but also sell products directly to consumers through online retailers like Amazon Prime Now
Finance & Insurance
This sector includes banks and other financial institutions, real estate companies, insurance providers and securities brokers. The finance and insurance industries make up about 10% of America’s GDP today, but they’re expected to grow faster than any other industry over the next decade–growing at an average rate of 3% per year through 2023.
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