Table 106.10.

Expenditures of educational institutions related to the gross domestic product, by level of institution: Selected years, 1929-30 through 2019-20

Year	Gross domestic product (GDP) (in billions of current dollars)	School year		Expenditures for education in current dollars
				All educational institutions		All elementary and secondary schools			All degree-granting postsecondary institutions
				Amount (in millions)	As a percent of GDP	Amount (in millions)		As a percent of GDP	Amount (in millions)		As a percent of GDP
1	2	3		4	5	6		7	8		9
1929	$104.6	1929-30		---	---	---		---	$632		0.6
1939	93.4	1939-40		---	---	---		---	758		0.8
1949	272.5	1949-50		$8,494	3.1	$6,249		2.3	2,246		0.8
1959	521.7	1959-60		22,314	4.3	16,713		3.2	5,601		1.1
1961	562.2	1961-62		26,828	4.8	19,673		3.5	7,155		1.3
1963	637.5	1963-64		32,003	5.0	22,825		3.6	9,178		1.4
1965	742.3	1965-66		40,558	5.5	28,048		3.8	12,509		1.7
1967	860.0	1967-68		51,558	6.0	35,077		4.1	16,481		1.9
1969	1,017.6	1969-70		64,227	6.3	43,183		4.2	21,043		2.1
1970	1,073.3	1970-71		71,575	6.7	48,200		4.5	23,375		2.2
1971	1,164.9	1971-72		76,510	6.6	50,950		4.4	25,560		2.2
1972	1,279.1	1972-73		82,908	6.5	54,952		4.3	27,956		2.2
1973	1,425.4	1973-74		91,084	6.4	60,370		4.2	30,714		2.2
1974	1,545.2	1974-75		103,903	6.7	68,846		4.5	35,058		2.3
1975	1,684.9	1975-76		114,004	6.8	75,101		4.5	38,903		2.3
1976	1,873.4	1976-77		121,793	6.5	79,194		4.2	42,600		2.3
1977	2,081.8	1977-78		132,515	6.4	86,544		4.2	45,971		2.2
1978	2,351.6	1978-79		143,733	6.1	93,012		4.0	50,721		2.2
1979	2,627.3	1979-80		160,075	6.1	103,162		3.9	56,914		2.2
1980	2,857.3	1980-81		176,378	6.2	112,325		3.9	64,053		2.2
1981	3,207.0	1981-82		190,825	6.0	120,486		3.8	70,339		2.2
1982	3,343.8	1982-83		204,661	6.1	128,725		3.8	75,936		2.3
1983	3,634.0	1983-84		220,993	6.1	139,000		3.8	81,993		2.3
1984	4,037.6	1984-85		239,351	5.9	149,400		3.7	89,951		2.2
1985	4,339.0	1985-86		259,336	6.0	161,800		3.7	97,536		2.2
1986	4,579.6	1986-87		280,964	6.1	175,200		3.8	105,764		2.3
1987	4,855.2	1987-88		301,786	6.2	187,999		3.9	113,787		2.3
1988	5,236.4	1988-89		333,245	6.4	209,377		4.0	123,867		2.4
1989	5,641.6	1989-90		365,825	6.5	231,170		4.1	134,656		2.4
1990	5,963.1	1990-91		395,318	6.6	249,230		4.2	146,088		2.4
1991	6,158.1	1991-92		417,944	6.8	261,755		4.3	156,189		2.5
1992	6,520.3	1992-93		439,676	6.7	274,435		4.2	165,241		2.5
1993	6,858.6	1993-94		460,756	6.7	287,407		4.2	173,351		2.5
1994	7,287.2	1994-95		485,169	6.7	302,200		4.1	182,969		2.5
1995	7,639.7	1995-96		508,523	6.7	318,046		4.2	190,476		2.5
1996	8,073.1	1996-97		538,854	6.7	338,951		4.2	199,903	1	2.5
1997	8,577.6	1997-98		570,471	6.7	361,615		4.2	208,856	1	2.4
1998	9,062.8	1998-99		603,847	6.7	384,638		4.2	219,209		2.4
1999	9,630.7	1999-2000		649,322	6.7	412,538		4.3	236,784		2.5
2000	10,252.3	2000-01		705,017	6.9	444,811		4.3	260,206		2.5
2001	10,581.8	2001-02		752,780	7.1	472,064		4.5	280,715		2.7
2002	10,936.4	2002-03		795,691	7.3	492,807		4.5	302,884		2.8
2003	11,458.2	2003-04		830,293	7.2	513,542		4.5	316,751		2.8
2004	12,213.7	2004-05		875,988	7.2	540,969		4.4	335,019		2.7
2005	13,036.6	2005-06		925,249	7.1	571,669		4.4	353,580		2.7
2006	13,814.6	2006-07		984,048	7.1	608,495		4.4	375,553		2.7
2007	14,451.9	2007-08		1,054,901	7.3	646,414		4.5	408,487		2.8
2008	14,712.8	2008-09		1,089,683	7.4	658,926		4.5	430,757		2.9
2009	14,448.9	2009-10		1,100,897	7.6	654,418		4.5	446,479		3.1
2010	14,992.1	2010-11		1,124,352	7.5	652,356		4.4	471,997		3.1
2011	15,542.6	2011-12		1,136,876	7.3	648,794		4.2	488,083		3.1
2012	16,197.0	2012-13		1,153,874	7.1	655,013		4.0	498,861		3.1
2013	16,784.9	2013-14		1,192,886	7.1	675,818		4.0	517,067		3.1
2014	17,527.3	2014-15		1,241,626	7.1	706,135		4.0	535,491		3.1
2015	18,238.3	2015-16		1,296,371	7.1	736,905		4.0	559,466		3.1
2016	18,745.1	2016-17		1,352,197	7.2	768,623		4.1	583,574		3.1
2017	19,543.0	2017-18		1,404,579	7.2	798,976		4.1	605,603		3.1
2018	20,611.9	2018-19		1,468,000	7.1	836,000	2	4.1	632,354		3.1
2019	21,433.2	2019-20	2	1,515,000	7.1	864,000		4.0	651,000		3.0

---Not available.

1 Estimated by the National Center for Education Statistics based on enrollment data for the given year and actual expenditures for prior years.

2 Estimated by the National Center for Education Statistics based on teacher and enrollment data, and actual expenditures for prior years.

NOTE: Data in this table represent the 50 states and the District of Columbia. Total expenditures for public elementary and secondary schools include current expenditures, interest on school debt, and capital outlay. Data for private elementary and secondary schools are estimated. Expenditures for colleges and universities in 1929-30 and 1939-40 include current-fund expenditures and additions to plant value. Public and private degree-granting institutions data for 1949-50 through 1995-96 are for current-fund expenditures. Data for private degree-granting institutions for 1996-97 and later years are for total expenditures. Data for public degree-granting institutions for 1996-97 through 2000-01 are for current expenditures; data for later years are for total expenditures. Postsecondary data through 1995-96 are for institutions of higher education, while later data are for degree-granting institutions. Degree-granting institutions grant associate’s or higher degrees and participate in Title IV federal financial aid programs. Some data have been revised from previously published figures. Detail may not sum to totals because of rounding.

SOURCE: U.S. Department of Education, National Center for Education Statistics, Biennial Survey of Education in the United States, 1929-30 through 1949-50; Statistics of State School Systems, 1959-60 through 1969-70; Revenues and Expenditures for Public Elementary and Secondary Education, 1970-71 through 1986-87; Common Core of Data (CCD), "National Public Education Financial Survey," 1987-88 through 2017-18; Higher Education General Information Survey (HEGIS), Financial Statistics of Institutions of Higher Education, 1965-66 through 1985-86; Integrated Postsecondary Education Data System (IPEDS), "Finance Survey" (IPEDS-F:FY87-99); and IPEDS Spring 2001 through Spring 2020, Finance component. U.S. Department of Commerce, Bureau of Economic Analysis, National Income and Product Accounts Tables, retrieved April 7, 2021, from https://apps.bea.gov/itable/index.cfm. (This table was prepared April 2021.)