U.S. Digital Economy: Value Added in 2022

By Raulin Cadet | Published June 6, 2024 | Updated June 6, 2024 | Topics: GDP, Industry, Digital economy, USA

"Productivity is never an accident. It is always the result of a commitment to excellence, intelligent planning and focused effort."

— Paul J. Meyer

The digital economy is growing fast due to innovations. It is evident that it boosts the economy, adding value to most industries. But, which industries profit more from digital economy? This blog post presents the value added by digital economy to the U.S. GDP, by industry.

Definition: The Bureau of Economic Analysis (BEA) defines digital economy as including four groups of economic activities: (1) Infrastructure, consisting of information and communications technology hardware and software; (2) E-Commerce; (3) Priced digital services, consisting of those related digital services such as cloud, internet and data; (4) Federal non defenses services which "represents the annual budget for federal nondefense government agencies whose services are directly related to supporting the digital economy." (reference for details).

TThree industries, more than any others, benefit from the digital economy: information; professional, scientific, and technical services; wholesale trade. While the digital economy enables these industries, as it does for others, to innovate, increase productivity, and enhance product quality, the magnitude of its impact may vary. Although the value added by the digital economy to other industries may not be as significant as for the three mentioned, they still benefit from its development.