Donald Trump has bid farewell to the old year and welcomed 2018 with a lavish party at his private club in Florida.

The US President predicted a "tremendous" 2018, saying he expected the stock market would continue to gain ground and that companies would return to the US.

Image: Ivanka Trump, her husband Jared Kushner and their children on New Year's Eve

Guests gathered in the ballroom of his Mar-a-Lago estate, which was decorated with white and gold flowers and glittering lights for the occasion.

Image: Treasury Secretary Steven Mnuchin and his wife Louise Linton arrive for the party

Joining the President, First Lady Melania and their son Barron were Mr Trump's daughter Ivanka Trump and son-in-law Jared Kushner; sons Eric Trump and Donald Trump Jr; and Treasury Secretary Steven Mnuchin.

What a year it’s been, and we're just getting started. Together, we are MAKING AMERICA GREAT AGAIN! Happy New Year!! pic.twitter.com/qsMNyN1UJG — Donald J. Trump (@realDonaldTrump) December 31, 2017

Mr Trump singled out as his main accomplishments of 2017 the tax overhaul, opening the Arctic National Wildlife Refuge to oil drilling, and changes to the national health care law.