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. For details, see the FAQ "Why does BEA publish estimates at annual rates?". On this page, US states are ranked by the real gross domestic product (GDP). Gross domestic product (GDP) by state is the market value of goods and services produced by the labor and property located in a state. 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. 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). Current-dollar statistics are valued in the prices of the period when the transactions occurred—that is, at "market value." This rate is 165 -tenths of one percent higher than the figure of -9% published in the second quarter of 2020. Thematic data tables from WDI. Quantity indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). Washington state’s real GDP jumped 4.4 percent last year, by far the largest increase of any state. U.S. real GDP grew 3.4 percent in the third quarter of 2018, down from 4.2 percent in the second quarter. Current-Dollar Gross Domestic Product (GDP) by State and Region, 2017:Q1–2018:Q4, Table 4. Information services and retail trade were the leading contributors to the increase in real GDP in Washington, the fastest growing state (table 5). This is a list of U.S. states, the District of Columbia, and U.S. territories sorted by their gross … Wholesale trade, mining, and information services were the leading contributors to the increase in real GDP nationally (table 2). An official website of the United States government. It even surpasses the United Kingdom, whose 2018 GDP clocked in at $2.81trillion. In 2019, growth slowed, as the EU-27 recorded a real increase in GDP of 1.5 %. Thursday, February 8, 2018. Today, BEA also released revised quarterly estimates for 2015:Q1 to 2018:Q3 and annual statistics for 2015-2017. From 2015 to 2018, growth was relatively stable, between 2.0 % and 2.8 % each year. California has the largest GDP among US states of $2.8 billion accounting for 15 percent of the total country's GDP. The following table gives the latest available nominal NSDP per capita figures for the States and Union Territories of India at current prices in Indian rupees . 0 n�޸�ns�{&�wS�o`��h``����```� 0�@����`=�b��! CSV XML EXCEL. 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. 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. Real GDP increased in 49 states and the District of Columbia in 2018. 4600 Silver Hill Road • Suitland, MD 20746. Online tool for visualization and analysis. 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 The percent change in real GDP in the fourth quarter ranged from 6.6 percent in Texas to 0.0 percent in Delaware (table 1). 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. Gross Domestic Product of United States grew 7.5% in the third quarter of 2020 compared to the previous quarter. Also referred to as "nominal GDP" or "current-price GDP.". In addition to Washington, information services was the leading contributor to the increase in real GDP in four additional states, including California. 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. Coastal states like California, with its booming tech sector, and New York, with robust financial and real estate industries, performed well, with 2.6% and 2.2% growth, respectively. In US Dollar, 5 states/UTs have economy of greater than $200 billion for year 2017 and 12 have above $100 bn. Findings. Seasonal adjustment and annual rates. endstream endobj startxref 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. The percent change in real GDP ranged from 5.7 percent in Washington to -0.3 percent in Alaska (table 4). The percent change in real GDP ranged from 5.7 percent in Washington to -0.3 percent in Alaska (table 4). Updates to Gross Domestic Product by State, Next release: July 25, 2019 at 8:30 A.M. EDT The GDP of Texas came in at $1.78 trillion while Canada’s followed close behind at $1.73 trillion. The U.S. GDP, the total value of the goods and services produced, grew by a 10-year annual average of 1.9% between 2008 and 2018. @�U��0 U.S States GDP vs Countries - Top 10 Biggest States by GDP . 96 0 obj <>stream Real gross domestic product (GDP) increased in 48 states and the District of Columbia in the first quarter of 2018, according to statistics released today by the U.S. Bureau of Economic Analysis. They have the same income but west virginia has twice the poverty rate. US GDP by State US total State GDP is $20.0137 trillion, population is 328 million, total state and local government spending is $3.7755 trillion, total state and local government debt $3.098 trillion, Land area 3.8 million square miles. 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. The latest comprehensive information for - United States GDP Annual Growth Rate - including latest news, historical data table, charts and more. 20 minutes ago. 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. Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. Real values are inflation-adjusted statistics—that is, these exclude the effects of price changes. 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 (. In 2017: New York State’s GDP was over $1.5 trillion, 8 percent of the U.S. total. 1. Mining and wholesale trade were the leading contributors to the increase in real GDP in Texas, the fastest growing state. GDP, PPP (constant 2017 international $) GDP (current LCU) GDP, PPP (current international $) GDP per capita growth (annual %) Download. Information services increased 8.9 percent nationally and contributed to growth in every state and the District of Columbia. Quantities, or "real" measures, are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Real GDP by state may reflect a substantial volume of output that is sold to other states and countries. Economy of Maharashtra is approx. 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. Percent changes calculated from chained-dollar levels and quantity indexes are conceptually the same; any differences are due to rounding. Year-over-year real GDP grew at the fastest rate in the following states: Washington. 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. Here are the percentages of change between the third quarter GDP values and the fourth quarter GDP values by state for the year 2018. 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. 0�~`fb�k���x��ˁ��рA���F�'�깖'�\�elЍ��j�sA��A��*h��ԑ�l�\An�.� ��-M Gross Domestic Product (GDP) by state measures the value of goods and services produced in each state. Gross Domestic Product by State, First Quarter 2019. The State Lagged Behind the Nation in Economic Growth for 2017. Percent Change in Real Gross Domestic Product (GDP) by State, 2015–2018, Table 5. 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