Gross Domestic Product by State Shows Varied Growth Across States

RAND State Statistics recently updated its Gross Domestic Product (GDP) database with GDP by state and GDP Per Capita in nominal and constant or "chained" (2012) dollars, from 2001 to 2019. The data is based on North American Industry Classification System (NAICS) categories and the per capita figures are based on July 1st population data from the Bureau of the Census. Here are some of the highlights.

 

From 2018 to 2019, United States Gross Domestic Product grew 4% (See Table 1); per capita Gross Domestic Product increased 3.5% (See Table 2). The state with the highest GDP growth over this one-year period was Washington (6.5%), and the state with the lowest GDP growth was Alaska (0.2%). Similarly, Washington had the highest Per Capita GDP growth (5.3%) and Alaska had the lowest Per Capita GDP growth (0.7%).

 

Table 1—Gross Domestic Product by State, 2018 - 2019

 

Table 2—Per Capita Gross Domestic Product by State, 2018 - 2019

Figure 1 shows the states with the highest GDP in 2019 and Figure 2 shows the states with the highest Per Capita GDP in 2019.

Figure 1—Gross Domestic Product by State, 2019

 

Figure 2—Per Capita Gross Domestic Product by State, 2019

 

From 2010-2019, the US experienced GDP growth of 43% and per capita GDP growth of 34.7%. Washington had the highest GDP growth (67.6%), followed by Utah (63%), North Dakota (60.2%), California (58.7%) and Oregon (54.8%). Alaska had the lowest GDP growth (2.7%), followed by Wyoming (8%), Louisiana (13.6%), West Virginia (20.8%), and Connecticut (20.9%) (See Figure 3).

 

The highest GDP Per Capita in 2010-2019 was California (49.9%), followed by Washington (48.4%), New York (45.8%), North Dakota (41.9%), and Utah (41.1%). The lowest was Alaska (0.2%), followed by Wyoming (5.3%), Louisiana (11.1%), District of Columbia (15.9%), and Connecticut (21.4%) (See Figure 4).

 

Figure 3—Gross Domestic Product by State, 2010 - 2019

Figure 4—Per Capita Gross Domestic Product by State, 2010 - 2019

 

Over a longer period, from 2001-2019, US GDP grew 102.5%, i.e., it doubled, and per capita GDP growth was 75.8%. North Dakota had the highest GDP growth of 201.6%, followed by Utah (162.3%), Washington (155.7%), Texas (138.6%), and South Dakota (134.7%).  The lowest GDP growth during this time was Michigan (54%) (See Figure 5). North Dakota also had the highest Per Capita GDP growth (152.9%), followed by South Dakota (101.1%), Washington (101%), New York (99%), and California (97%). The lowest Per Capita GDP from 2001-2019 was Delaware (35.3%) (See Figure 6).

 

Figure 5—Gross Domestic Product by State, 2001 - 2019

Figure 6—Per Capita Gross Domestic Product by State, 2001 - 2019

From 2001-2019, North Dakota had the highest average annual GDP growth (6.32%) and Michigan had the lowest average annual GDP growth (2.43%). The highest average annual per capita GDP growth occurred in North Dakota (5.29%), and the lowest average annual per capita GDP growth from 2001-2019 was in Delaware (1.69%). Similar to trends from 2018-2019, The U.S. GDP average annual growth was 4.0% (See Figure 7), and the U.S. per capita GDP average annual growth was 3.2% (See Figure 8).

 

Figure 7—United States Gross Domestic Product, 2001 - 2019

Figure 8—United States Per Capita Gross Domestic Product, 2001 - 2019

 

Category: Business & Economics