The Bureau of Economic Analysis reports…

This report provides an overview of updated and revised digital economy statistics for 2005–2020 as released by the U.S. Bureau of Economic Analysis (BEA). These statistics build on the 2005–2019 estimates released in June 2021 by incorporating new data for 2020 and revised source data for 2005–2019. The new data show in 2020, the U.S. digital economy accounted for $3.31 trillion of gross output, $2.14 trillion of value added (translating to 10.2 percent of U.S. gross domestic product (GDP)), $1.09 trillion of compensation, and 7.8 million jobs.1 Growth in price-adjusted GDP (also referred to as “chained-dollar” or “real” GDP) was 4.0 percent in 2020, greatly outpacing growth in the overall economy, which contracted –3.4 percent.2 Hardware, software, and business-to-consumer (B2C) e-commerce were the main drivers of growth in the digital economy for 2020. These new digital economy statistics suggest this area of the economy was mostly insulated from the declines seen in other areas of the economy caused by the pandemic. See BEA’s digital economy website for the detailed data tables, plus other research and papers related to this subject.

It will be interesting to compare before/after height of pandemic statistics.