Annual currency in circulation (CIC) to GDP ratio of the U.S. 2001-2022

The market size of currency circulating in the United States economy made up nearly ten percent of the country's GDP. This so-called CIC/GDP ratio is meant to roughly measure the use of cash money in the country. Due to the anonymity of cash transactions, sources struggle to find exact volumes on this. The ratio mentioned here is quite popular in that regard, as the data it needs is relatively easy to find. Some industry experts mention, however, that this ratio is too general and does not necessarily reflect retail payments. In the case of the United States, another issue may come into play: During the coronavirus pandemic, the Federal Reserve pumped significant amounts of cash money into the American economy. This may potentially reflected in the growing ratio observed here.