The Internet sector accounts for 10% of US GDP

The Internet sector accounts for 10% of US GDP

Top 20 Country GDP (PPP) History & Projection (1800-2040)

Description video:
This video shows the Top 20 countries with highest GDP PPP from 1800 to 2040 based on 2011 international dollars. It gives a brief history of the world since the 1800s. China and India were ahead before the 1900s while the US started leading after the 20th century.\n\nPurchasing power parity (PPP) is a neoclassical economic theory that states that the exchange rate between two countries is equal to the ratio of the currencies’ respective purchasing power.\n\nTwitter: https://twitter.com/wawamustats\nFacebook: https://fb.me/wawamustats\n\nSource:\nThe Angus Maddison Project \u0026 World Bank\n\nSpecial Thanks to Our Patron: \nC\u0026MHansen\n\nSubscribe here: https://www.youtube.com/wawamustats?sub_confirmation=1

The Internet sector accounts for 10% of US GDP

In 2018, the fast-growing internet sector accounted for $ 2.1 trillion in the U.S. economy, or about 10% of the country’s gross domestic product (GDP), an industry group said Thursday..

The Internet Association, a group representing Amazon.com Inc, Facebook Inc, Alphabet Inc, Twitter Inc, Uber Technology Inc and many more firms, has released its estimates as the tech sector comes under increasing criticism, with some lawmakers calling for large firms to split, renewed antitrust investigation.

The study says the Internet sector is the fourth largest sector of the US economy, after real estate, public sector and manufacturing..

According to April estimates by the US Bureau of Economic Analysis (BEA), «digital economy» was 6.9% of US GDP or $ 1.35 trillion in 2017, which puts it in seventh place overall.

The Internet sector accounts for 10% of US GDP

This definition includes digital technology infrastructure, e-commerce transactions and digital media, but does not include goods and services related to the economy. «sharing».

The Internet Association’s study used 2018 government census, BEA, and SEC data to assess the contribution of the Internet sector to the American economy. Group chief economist Christopher Hooton said the internet industry «creates jobs in every sector of the economy», and said the new analysis more accurately captures the economic impact of the internet.

The BEA study notes that workers in the US digital economy received an average of $ 132,223 in compensation for their work in 2017, compared to $ 68,506 per worker on average..