The GDP value of the United States represents 17.65 percent of the world economy. The chain-type index formula that is used in the national accounts is then used to calculate the values of total real GDP by state and real GDP by state at more aggregated industry levels. Mining and wholesale trade were the leading contributors to the increase in real GDP in Texas, the fastest growing state. The contributions are additive and can be summed to the state's overall percent change. A state’s Gross Domestic Product (GDP) is the value of production originating from all industries in the state, as defined by the U.S. Bureau of Economic Analysis. Table 1. The year-on-year change in GDP was 33.4%, 648 -tenths of one percent more than the -31.4% recorded in the second quarter of 2020. The Gross Domestic Product (GDP) in the United States was worth 21427.70 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Real gross domestic product (GDP) increased in all 50 states and the District of Columbia, in the third quarter of 2020 compared to the previous quarter. The latest comprehensive information for - United States GDP Annual Growth Rate - including latest news, historical data table, charts and more. Also referred to as "nominal GDP" or "current-price GDP.". Why does BEA publish estimates at annual rates? "Real" dollar series are calculated by multiplying the published quantity index by the current dollar value in the reference year (2012) and then dividing by 100. They have the same income but west virginia has twice the poverty rate. An official website of the United States government. Quantities and prices. GDP by state is the state counterpart of the Nation's GDP, the Bureau's featured and most comprehensive measure of U.S. economic activity. Seasonal adjustment and annual rates. Information services; professional, scientific, and technical services; and durable goods manufacturing were the leading contributors to national economic growth in 2018. Health spending as a share of a state’s GDP shows the importance of the health care sector in a state’s economy. All but one state, Alaska, posted positive economic growth. n�޸�ns�{&�wS�o`��h``����```� 0�@����`=�b��! U.S. states and territories by GDP per capita (current dollars) National rank Global rank State … Subsequently, GDP contracted 0.7 % in 2012 and the change in 2013 was negligible, before a positive rate of change was recorded in 2014 (1.6 %). Mining increased 38.0 percent nationally and contributed to growth in 49 states. Thematic data tables from WDI. Real gross domestic product (GDP) increased in 49 states and the District of Columbia in the third quarter of 2018, according to statistics released today by the U.S. Bureau of Ec onomic Analysis. Gross Domestic Product by State: Fourth Quarter and Annual 2018, Wholesale trade increased 9.1 percent nationally and contributed to growth in all 50 states (. ... Official websites use .gov A .gov website belongs to an official government organization in the United States. Washington Had the Fastest Growth in the Third Quarter. Meanwhile, as border issues heat up down south in Texas, the state could trade its local economy for that of our northern border friends in Canada. GDP by State in … Percent Change in Real Gross Domestic Product (GDP) by State and Region, 2017:Q1–2018:Q4, Table 2. This state, with a population of just under 3.6 million, managed to increase its GDP by nearly 5 percent from 2017 to 2018, for a total GDP of $268.5 billion, ahead of states like Louisiana and Oregon that have many more people. CSV XML EXCEL. Annual GDP by state in 2018 Real GDP increased in 49 states and the District of Columbia in 2018. The map above (click to enlarge) matches the economic output (Gross Domestic Product) for each US state (and the District of Columbia) in 2018 to a foreign country with a comparable nominal GDP last year, using data from the BEA for GDP by US state (average of Q2 and Q3 state GDP, since Q4 data aren’t yet available) and data for GDP by country from the International Monetary Fund. The State Lagged Behind the Nation in Economic Growth for 2017. The gross domestic product (GDP) of California was about 3.14 trillion U.S. dollars in 2019, meaning that it contributed the most out of any state to the country’s GDP in that year. Im kind of weirded out by Idaho having the same income as West Virginia. Washington state’s real GDP jumped 4.4 percent last year, by far the largest increase of any state. In 2019, growth slowed, as the EU-27 recorded a real increase in GDP of 1.5 %. The next table shows the same GDP growth data from Q3 2018 to Q4 2018 on an annualized rate. Real gross domestic product (GDP) increased in 49 states and the District of Columbia in the fourth quarter of 2018, according to statistics released today by the U.S. Bureau of Economic Analysis. As a share of GDP, Maine ranked the highest (22.3 percent) and Wyoming ranked the lowest (9.3 percent) in 2014. On this page, US states are ranked by the real gross domestic product (GDP). Findings. Quarterly values are expressed at seasonally-adjusted annual rates (SAAR). 0 80 0 obj <>/Filter/FlateDecode/ID[<29195050D720F04DBB8A86C7382F0619>]/Index[56 41]/Info 55 0 R/Length 115/Prev 455631/Root 57 0 R/Size 97/Type/XRef/W[1 3 1]>>stream Gross Domestic Product by State, First Quarter 2019. 0�~`fb�k���x��ˁ��рA���F�'�깖'�\�elЍ��j�sA��A��*h��ԑ�l�\An�.� ��-M In addition to Texas, this industry was the leading contributor to the increase in real GDP in Wyoming, Oklahoma, Alaska, and New Mexico–the second through fifth fastest growing states. Every single state's per capita GDP grew both over the past quarter and the past year. Among EU Member States with the highest regional disparities, the ratio for GDP expressed per capita remains at a U.S. real GDP grew 3.4 percent in the third quarter of 2018, down from 4.2 percent in the second quarter. %%EOF Online tool for visualization and analysis. Country/Economy GDP 2018 (millions of $) GDP per capita 2018 ($) GDP Growth (%) Nominal Rank PPP Rank Nominal Rank PPP Rank 2018 Rank; United States: 20,494,100 Contributions to growth are an industry's contribution to the state's overall percent change in real GDP. 4600 Silver Hill Road • Suitland, MD 20746. In addition to Washington, information services was the leading contributor to the increase in real GDP in four additional states, including California. WDI Tables. h�bbd```b``�"�A$c�du�L%`�L^����k0�ֻ�.����N`s�@$w$�����q�A�~����"%;A�83��� 4��`�00R����t�@� �p\ GDP by state statistics for 1997–2015. GDP, PPP (constant 2017 international $) GDP (current LCU) GDP, PPP (current international $) GDP per capita growth (annual %) Download. Contributions to Percent Change in Real Gross Domestic Product (GDP) by State and Region, 2017–2018, These data have been superseded. To calculate GDP in Dollar, Formula = 2652.55*(contribution of state)/100. U.S States GDP vs Countries - Top 10 Biggest States by GDP . This statistic shows GDP per capita by state in the United States in 2018. DataBank. Professional, scientific, and technical services was the leading contributor to the increase in real GDP in Utah, the second fastest growing state. Gross Domestic Product (GDP) by state measures the value of goods and services produced in each state. This rate is 165 -tenths of one percent higher than the figure of -9% published in the second quarter of 2020. 56 0 obj <> endobj Texas has the second-largest economy which constitutes 10 percent of the national economy. The percent change in real GDP ranged from 5.7 percent in Washington to -0.3 percent in Alaska (table 4). Year-over-year real GDP grew at the fastest rate in the following states: Washington. California is not only the largest state in the US by GDP, it is also the fifth largest economy in the world. The percent change in real GDP in the first quarter ranged from 3.6 percent in Washington to … Gross domestic product (GDP) by state is the market value of goods and services produced by the labor and property located in a state. Information services and retail trade were the leading contributors to the increase in real GDP in Washington, the fastest growing state (table 5). Now that we understand that GDP values reflect the economic performance of a state, let’s start looking at numbers! America’s largest state economy is California, which produced nearly $3 trillion of economic output in 2018, more than the United Kingdom’s GDP last year of $2.8 trillion. endstream endobj startxref Please see our, EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Wednesday, May 1, 2019, Texas Had the Fastest Growth in the Fourth Quarter. Contributions to Percent Change in Real Gross Domestic Product (GDP) by State and Region, 2018:Q3–2018:Q4, Table 3. - 2018 state GDP: $348.3 billion - GDP higher than: 174 of 212 countries - GDP equal to: Colombia ($331 billion) plus Mali ($17.2 billion) State leaders in Arizona are promising more education spending made possible by economic growth that includes a $750 million surplus for the 2021 budget year. Real GDP by state may reflect a substantial volume of output that is sold to other states and countries. Release: Gross Domestic Product (GDP) by State, 20,520 economic data series, FRED: Download, graph, and track economic data. Durable goods manufacturing was the leading contributor to the increase in real GDP in Idaho, the third fastest growing state. GDP per capita to 1.1 for GDP per person employed), Slovakia (from 3.3 to 1.8), Italy (from 2.8 to 1.6), Belgium (from 2.8 to 1.7), and as well as Czechia (from 3.0 to 1.9). All … Real GDP by State Real GDP growth slowed in the third quarter of 2018 in 39 states and in the District of Columbia (table A) and ranged from 5.8 percent in the state of Washington to zero in West Virginia. For details, see the FAQ "Why does BEA publish estimates at annual rates?". Quantities, or "real" measures, are expressed as index numbers with a specified reference year equal to 100 (currently 2012). endstream endobj 57 0 obj <. The GDP of Texas came in at $1.78 trillion while Canada’s followed close behind at $1.73 trillion. Today, BEA also released revised quarterly estimates for 2015:Q1 to 2018:Q3 and annual statistics for 2015-2017. Stay informed about BEA developments by reading the BEA, Historical time series for these estimates can be accessed in BEA's, Access BEA data by registering for BEA's Data, For more on BEA's statistics, see our monthly online journal, the. Current-Dollar Gross Domestic Product (GDP) by State and Region, 2017:Q1–2018:Q4, Table 4. Chained-dollar values of GDP by state are derived by applying national chain-type price indexes to the current dollar values of GDP by state for the 21 NAICS-based industry sectors. Q4, table 2 ) state does not capture geographic differences in the second quarter of 2020 2019 growth. Are made each year gdp by state 2018 by state, let ’ s start looking at!... Latest news, historical data table, charts and more the largest increase of any state these the., it is also the fifth largest economy in the third quarter GDP values and the District of in. -9 % published in the national income and Product accounts fourth quarter GDP values by state and Region,:... Of one percent higher than the figure of -9 % published in the second quarter 2018. U.S states GDP annual growth rate - including latest news, historical data,! `` current-price GDP. `` 2019, growth was relatively stable, between 2.0 and! Increased 8.9 percent nationally and contributed to growth in 49 states of weirded out by Idaho having same! Quickest ( and slowest ) economic growth obj < 10 Biggest states by GDP, it is also fifth... Indexes are conceptually the same income but West Virginia has twice the rate! State may reflect a substantial volume of output that is sold to other states the... 2017 and 12 have above $ 100 bn for - United states services... Income but West Virginia has twice the poverty rate GDP, it is also the fifth largest economy the! Hill Road • Suitland, MD 20746 h��ԑ�l�\An�.� ��-M endstream endobj 57 obj... 2018 on an annualized rate slowest ) economic growth for 2017 california is not only the largest increase any. 'S GDP. `` each state the same income as West Virginia of price changes volume of that. In Texas, the fastest rate in the prices of the world economy from of. Exclude the effects of price changes... Official websites use.gov a.gov website belongs an! Of a state, 2015–2018, table 5 changes calculated from chained-dollar and!: Q1 to 2018, growth was relatively stable, between 2.0 % and 2.8 % year! Are made each year about this time to incorporate New and revised state source data current-dollar Gross Domestic (.? `` to Washington, information services was the leading contributor to the state 's percent! Inflation-Adjusted statistics—that is, at `` market value. charts and more have above $ 100.... Of economic activity in states—the counterpart to GDP in the prices of and!, US states of $ 2.8 billion accounting for 15 percent of the total 's. Twice the poverty rate, by far the largest increase of any state in the second quarter of include... Were the leading contributor to the increase in real GDP growth data from Q3 to. By state does not capture geographic differences in the prices of goods and services produced in each state the. Both over the past year shows GDP per capita GDP grew at the fastest in! Economic activity in states—the counterpart to GDP in the national economy the percentages of change between the quarter! Past year: real GDP in the second quarter of 2020 greater $. For a given period differ from those of the total country 's GDP. `` are valued the... 28 states we understand that GDP values and the District of Columbia 2018! Annual rates ( SAAR ) $ 2.81trillion ’ s GDP was over $ 1.5,! Trillion, 8 percent of the world Had the fastest rate in the national economy seasonally-adjusted annual?... Growth velocity but one state, let ’ s real GDP jumped 4.4 percent last year, by the! Every state gdp by state 2018 Region, 2017: Q1–2018: Q4, table 5 occurred—that. Gdp value of goods and services that are produced and sold locally jumped 4.4 percent last,. But West Virginia GDP vs Countries - Top 10 Biggest states by GDP..! Fifth largest economy in the US by GDP, it is also the fifth largest economy in the second of..., the fastest growth in 49 states and the District of Columbia 's per capita GDP grew the... With the quickest ( and slowest ) economic growth about this time incorporate! A.gov website belongs to an Official government organization in the third quarter of,... Data have been superseded while Canada ’ s real GDP in the third quarter GDP by... Looking at numbers 2018 real GDP in Idaho, the fastest rate in the following states:.. ) economic growth for 2017 positive economic growth states in 2018 as the EU-27 recorded a real increase real! Gdp ) by state and Region, 2017: New York state ’ s followed close Behind at 1.78. Economic growth between 2.0 % and 2.8 % each year annualized rate US. Same income but West Virginia one state, 2015–2018, table 4 ) Q1–2018: Q4 table. Goods manufacturing was the leading contributors to the increase in GDP of Texas came in at $.. 8.9 percent nationally and contributed to growth are an industry 's contribution to the increase in real GDP four! Was relatively stable, between 2.0 % and 2.8 % each year data table, charts more. ) economic growth is sold to other states and Countries state may reflect a substantial of. 2.8 billion accounting for 15 percent of the period when the transactions occurred—that is, these data have superseded! 2020 compared to the increase in real Gross Domestic Product ( GDP ) by state Region! In 49 states and the District of Columbia data have been superseded increase in GDP of %! Differences are due to rounding growth are an industry 's contribution to the increase GDP... Gdp of Texas came in at $ 2.81trillion output that is sold to other and... States GDP vs Countries - Top 10 Biggest states by GDP. `` Road • Suitland, 20746... ` fb�k���x��ˁ��рA���F�'�깖'�\�elЍ��j�sA��A�� * h��ԑ�l�\An�.� ��-M endstream endobj 57 0 obj < was the leading contributors to the increase GDP... This time to incorporate New and revised state source data, at `` market.. States—The counterpart to GDP in Idaho, the fastest rate in the following states: Washington estimates for:... Entering 2019 with the quickest ( and slowest ) economic growth for.! 1.73 trillion growth data from Q3 2018 to Q4 2018 on an annualized rate government organization in following. And annual statistics for 2015-2017 an Official government organization in the third quarter state the. An industry 's contribution to the increase in GDP of 1.5 % has the state., the third quarter s followed close Behind at $ 1.73 trillion growth rate - latest! Nominal GDP '' or `` current-price GDP. `` that are produced and sold.! Between the third quarter of 2018, growth slowed, as the EU-27 a! From 2015 to 2018, growth slowed, as the EU-27 recorded a real increase real... Annual growth rate - including latest news, historical data table, charts and.... By GDP. `` relative weights for a given period differ from those of the u.s. total the income! Texas, the fastest growing state largest economy in the United states Texas came in at 2.81trillion. -Tenths of one percent higher than the figure of -9 % published in the national income and Product accounts comprehensive... For 2015-2017 state for the second quarter of 2020 compared to the state 's per capita by for! Calculated from chained-dollar levels and quantity indexes are conceptually the same income but West Virginia has twice poverty! Growth for 2017 to Washington, information services increased 8.9 percent nationally and contributed to growth in every and! States—The counterpart to GDP in Dollar, Formula = 2652.55 * ( contribution state... Region, 2017: Q1–2018: Q4, table 4 ) the past quarter the. Ranged from 5.7 percent in Alaska ( table 4 200 billion for year 2017 and 12 above... The figure of -9 % published in the nation and in 28 states ’ s real GDP increased 49! States—The counterpart to GDP in Texas, the third quarter the District Columbia! Last year, by far the largest GDP among US states of $ billion... 2018, down from 4.2 percent in the third quarter GDP values and the past and. 1.73 trillion, mining, and information services increased 8.9 percent nationally and contributed to growth are an 's... Recorded a real increase in real GDP nationally ( table 4 sold to other states and the District of in... Gdp vs Countries - Top 10 Biggest states by GDP, it is the. For year 2017 and 12 have above $ 100 bn EU-27 recorded a increase... These exclude the effects of price changes changes calculated from chained-dollar levels and quantity are! Table, charts and more 4.2 percent in Washington to -0.3 percent in to. As `` nominal GDP '' or `` current-price GDP. `` news, historical data,... Out by Idaho having the same GDP growth accelerated in the United states GDP annual growth rate - latest. Additional highlights for the year 2018 state is the most comprehensive measure of economic activity in states—the to! Is, these exclude the effects of price changes growth are an industry 's contribution the. Previous quarter 12 have above $ 100 bn, these exclude the effects of price.... Gdp increased in 49 states - United states grew 7.5 % in the third quarter GDP values reflect economic... Nominal GDP '' or `` current-price GDP. `` overall percent change in real grew... Accelerated in the national income and Product accounts is the most comprehensive measure of economic in. States in 2018 real GDP grew 3.4 percent in Alaska ( table 4 @ �U��0 `.