The chart above shows the annualized nominal gross domestic product (GDP) in each US state as of the fourth quarter of 2018 in millions of dollars, the change from five years ago, and the GDP ten years prior. California's economy grew more over the past five years than the size of 42 states' entire economies.
Findings
- The difference between the state with the largest GDP, California, and the state with the smallest, Vermont, is $2,984,183 million (up from $2,313,809 million five years ago and up from $1,932,602 million ten years ago). California and Vermont had the largest and smallest GDP respectively both five and ten years ago.
- California has 88.37 times the GDP that Vermont does. The ratio of largest GDP to smallest GDP was up from 80.26 five years ago and up from 75.99 ten years ago.
- The median GDP in the 50 US states is $238,726 million (up from $189,415 million five years ago and up from $167,163 million ten years ago) and the mean $412,287 million (up from $337,057 million five years ago and up from $287,295 million ten years ago).
- Forty-nine states saw their GDP rise over the past five years while one saw its GDP decline.
- Forty-nine states saw their GDP rise over the past ten years while one saw its GDP decline.
Caveats
- Data is from the fourth quarters of 2018, 2013, and 2008.
- The data is seasonally adjusted in current dollars.
- Growth rates may differ from those provided by the Bureau of Economic Analysis as the BEA's growth rates are based on chained dollars in conjunction with the chain index or the quality index for real GDP.
- All figures are rounded to the nearest hundredth.
Details
In absolute terms, Alaska saw the largest decrease over the past five years with a decline of $1,066.70 million. California had the largest growth with a gain of $675,334.20 million. Over the past ten years, Wyoming had the largest decrease with a decline of $1,375.00 million while California had the greatest increase with a gain of $1,059,963.00 million.
In relative terms, Alaska had the largest decrease over the past five years with a 1.91% drop in GDP while Washington had the greatest increase with a 35.49% rise in GDP. Over the past ten years, Wyoming had the largest decrease with a 3.33% drop in GDP while North Dakota had the largest growth with a 75.03% rise in GDP.
There were 33 states with a GDP of over $100,000 million ten years ago, 36 states five years ago, and 37 states now. On the flip side, there were seven states with a GDP of less than $50,000 million ten years ago, four states five years ago, and three states now.
Washington overcame the most states in the five year period going from having the 14th largest GDP to the 10th largest GDP. Conversely, Indiana, Oklahoma, and Alaska were each surpassed by three states in the five year period. Over the past ten years, Washington, Colorado, and North Dakota each surpassed four states, while Missouri was surpassed by four going from the 18th largest economy in the US to the 22nd.
Data
| State | Fourth Quarter 2008 | Fourth Quarter 2013 | Fourth Quarter 2018 |
|---|---|---|---|
| Alabama | 170,486.2 | 191,855.6 | 224,653.6 |
| Alaska | 53,278.2 | 55,918.1 | 54,851.4 |
| Arizona | 253,136.8 | 278,884.8 | 355,310.9 |
| Arkansas | 98,654.9 | 114,867.1 | 129,812 |
| California | 1,958,374.3 | 2,343,003.1 | 3,018,337.3 |
| Colorado | 252,321.8 | 294,391.9 | 376,993.8 |
| Connecticut | 232,971 | 247,901.2 | 279,652.7 |
| Delaware | 53,992.5 | 63,118.4 | 76,537.1 |
| Florida | 735,855.7 | 815,906.8 | 1,059,143.9 |
| Georgia | 407,751 | 468,573.3 | 601,503.1 |
| Hawaii | 66,548.6 | 76,576.3 | 93,419.4 |
| Idaho | 55,053.7 | 62,143.9 | 78,640.1 |
| Illinois | 641,816.5 | 750,165.3 | 879,947.3 |
| Indiana | 268,581.2 | 312,615.5 | 371,629.1 |
| Iowa | 134,095 | 162,314.9 | 192,607.7 |
| Kansas | 125,408.2 | 146,164.8 | 169,558 |
| Kentucky | 156,076.7 | 183,167.7 | 211,621.1 |
| Louisiana | 212,104 | 230,017.9 | 255,492 |
| Maine | 49,932.9 | 54,491 | 65,349.3 |
| Maryland | 298,637.6 | 345,173.5 | 417,775.6 |
| Massachusetts | 386,819.4 | 461,558.9 | 575,634.5 |
| Michigan | 380,578.1 | 438,112.2 | 537,086.7 |
| Minnesota | 262,523.1 | 311,448.1 | 374,919.7 |
| Mississippi | 96,228.7 | 101,871.5 | 115,749.4 |
| Missouri | 257,131.9 | 279,981.6 | 323,286.7 |
| Montana | 36,207.9 | 43,263.9 | 49,634.6 |
| Nebraska | 83,657.8 | 107,162.3 | 124,741.9 |
| Nevada | 126,788.5 | 132,697 | 168,752.3 |
| New Hampshire | 60,550.4 | 70,972.1 | 86,046.3 |
| New Jersey | 491,970.3 | 538,537.9 | 634,721.1 |
| New Mexico | 84,009.5 | 89,444.4 | 101,451.8 |
| New York | 1,088,631.2 | 1,387,882.4 | 1,701,398.9 |
| North Carolina | 412,903.8 | 464,774.2 | 575,605.4 |
| North Dakota | 31,798.9 | 54,801 | 55,657 |
| Ohio | 484,295.7 | 572,687.4 | 689,139.4 |
| Oklahoma | 157,353 | 186,973.6 | 203,250.2 |
| Oregon | 163,840.4 | 183,174.4 | 243,085.1 |
| Pennsylvania | 579,904.4 | 674,584.4 | 803,307.4 |
| Rhode Island | 47,383.6 | 53,697.7 | 61,340.9 |
| South Carolina | 160,953.4 | 186,680 | 234,366.7 |
| South Dakota | 35,241.3 | 44,765.8 | 52,543.8 |
| Tennessee | 251,157.5 | 296,394.1 | 373,663.3 |
| Texas | 1,212,955 | 1,528,045 | 1,818,585.4 |
| Utah | 114,019.6 | 136,022.7 | 180,861.7 |
| Vermont | 25,772.5 | 29,193.9 | 34,154.2 |
| Virginia | 402,605.3 | 458,333.6 | 544,348 |
| Washington | 355,012.6 | 425,594.2 | 576,623.5 |
| West Virginia | 63,176.9 | 71,486 | 79,167.9 |
| Wisconsin | 244,915.8 | 286,660.8 | 342,470 |
| Wyoming | 41,273.8 | 38,780.8 | 39,898.8 |
Sources
US Bureau of Economic Analysis. 2019. "GDP by State." Accessed May 22, 2019. https://www.bea.gov/data/gdp/gdp-state.