The chart above shows the annualized nominal gross domestic product (GDP) in each US state as of the second quarter of 2020 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 30 states' entire economies.
Findings
- The difference between the state with the largest GDP, California, and the state with the smallest, Vermont, is $2,862,879.10 million (up from $2,530,445.10 million five years ago and up from $1,930,543.30 million ten years ago). California and Vermont had the largest and smallest GDP respectively both five and ten years ago.
- California has 95.88 times the GDP that Vermont does. The ratio of largest GDP to smallest GDP was up from 83.76 five years ago and up from 72.45 ten years ago.
- The median GDP in the 50 US states is $224,409.30 million (up from $201,555.50 million five years ago and up from $169,081.75 million ten years ago) and the mean $385,292.45 million (up from $359,718.30 million five years ago and up from $294,281.57 million ten years ago).
- Of the fifty states, forty-one had the GDP rise over the past five years while nine had the GDP decline.
- Of the fifty states, forty-seven had the GDP rise over the past ten years while three had the GDP decline.
Caveats
- Data is from the second quarters of 2020, 2015, and 2010.
- 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, Oklahoma had the worst performance over the past five years with a loss of $11,006.80 million. California had the best performance with a gain of $332,031.90 million. Over the past ten years, Alaska had the worst performance with a loss of $6,913.70 million while California had the best performance with a gain of $935,491.50 million.
In relative terms, Wyoming had the worst performance over the past five years with a 12.89% drop in GDP while Utah had the best performance with a 23.30% rise in GDP. Over the past ten years, Alaska had the worst performance with a 13.15% drop in GDP while Washington had the best performance with a 58.74% rise in GDP.
There were 34 states with a GDP of over $100,000 million ten years ago, 36 states five years ago, and 36 states now. On the flip side, there were six states with a GDP of less than $50,000 million ten years ago, four states five years ago, and five states now.
Washington (from 14th largest GDP to 9th largest GDP) surpassed five states in the five year period. Conversely, New Jersey (from 8th to 10th), Massachusetts (from 10th to 12th), Minnesota (from 16th to 18th), Indiana (from 17th to 19th), Tennessee (from 18th to 20th), Louisiana (from 24th to 26th), Oklahoma (from 29th to 31st), and Alaska (from 46th to 48th) were each surpassed by two states in the five year period. Over the past ten years, Washington (from 14th to 9th largest GDP), Colorado (from 21st to 16th), and Arizona (from 22nd to 17th) each surpassed five states, while Alaska (from 43rd to 48th) was surpassed by five.
Data
| State | Second Quarter 2010 | Second Quarter 2015 | Second Quarter 2020 |
|---|---|---|---|
| Alabama | 174,016.2 | 200,190.9 | 209,852.3 |
| Alaska | 52,558.1 | 51,420.2 | 45,644.4 |
| Arizona | 246,779.2 | 298,042.6 | 350,140.9 |
| Arkansas | 100,516 | 117,385.4 | 120,812.4 |
| California | 1,957,562.4 | 2,561,022 | 2,893,053.9 |
| Colorado | 252,805.4 | 317,429.8 | 365,008.7 |
| Connecticut | 238,822.2 | 262,692 | 262,708.3 |
| Delaware | 57,243 | 73,021.8 | 71,610.5 |
| Florida | 735,796 | 892,828.1 | 1,026,676.3 |
| Georgia | 411,623.9 | 514,250.3 | 580,731.7 |
| Hawaii | 67,600.5 | 82,229.9 | 83,429 |
| Idaho | 54,744.8 | 65,837 | 77,384.1 |
| Illinois | 658,151.4 | 793,300.4 | 807,383.5 |
| Indiana | 279,390.4 | 330,270.8 | 344,033.2 |
| Iowa | 141,679.2 | 178,681.1 | 179,037.3 |
| Kansas | 126,590.5 | 153,743.4 | 161,464.3 |
| Kentucky | 164,147.3 | 193,151.9 | 193,877.8 |
| Louisiana | 225,068.3 | 233,577.8 | 224,129.4 |
| Maine | 51,728.8 | 57,363.6 | 61,496.3 |
| Maryland | 314,490.9 | 368,105.1 | 398,609.3 |
| Massachusetts | 407,645.4 | 502,894.5 | 546,546.3 |
| Michigan | 385,499.8 | 471,942.1 | 475,493.9 |
| Minnesota | 269,437.2 | 331,184.4 | 348,033.8 |
| Mississippi | 95,232.8 | 105,403.9 | 105,681 |
| Missouri | 257,702.2 | 294,230 | 299,130.6 |
| Montana | 37,767.6 | 46,648.2 | 47,721.4 |
| Nebraska | 91,492.3 | 115,901.9 | 119,692.3 |
| Nevada | 123,109.5 | 143,247 | 156,421.3 |
| New Hampshire | 64,512.7 | 75,659.1 | 78,691.2 |
| New Jersey | 493,602 | 568,477.9 | 574,017.5 |
| New Mexico | 82,964.5 | 91,810.7 | 93,367.1 |
| New York | 1,228,293.1 | 1,490,925.5 | 1,587,879.2 |
| North Carolina | 413,754.6 | 502,062.4 | 546,775.7 |
| North Dakota | 35,183 | 55,529.3 | 49,880.8 |
| Ohio | 492,786.8 | 609,109.9 | 626,275.4 |
| Oklahoma | 152,303.7 | 184,067.3 | 173,060.5 |
| Oregon | 162,514.1 | 200,936.2 | 233,799.2 |
| Pennsylvania | 595,317.7 | 711,160.9 | 723,830.4 |
| Rhode Island | 49,335.1 | 56,491.3 | 56,285.2 |
| South Carolina | 163,405.6 | 202,174.8 | 224,689.2 |
| South Dakota | 36,978.5 | 47,115 | 50,951.3 |
| Tennessee | 254,716 | 322,938.4 | 333,194.3 |
| Texas | 1,223,504.7 | 1,563,001.9 | 1,628,185 |
| Utah | 116,287.8 | 148,330.2 | 182,894.6 |
| Vermont | 27,019.1 | 30,576.9 | 30,174.8 |
| Virginia | 422,795.7 | 483,744.6 | 519,911.6 |
| Washington | 365,191.3 | 470,199.1 | 579,694.9 |
| West Virginia | 64,570.5 | 71,512.9 | 68,000.8 |
| Wisconsin | 252,813 | 305,941.7 | 314,026.5 |
| Wyoming | 37,027.7 | 38,152.9 | 33,233.1 |
Sources
US Bureau of Economic Analysis. 2020. "GDP by State." Accessed November 19, 2020. https://www.bea.gov/data/gdp/gdp-state.