The chart above shows the annualized nominal gross domestic product (GDP) in each US state as of the first quarter of 2021 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 38 states' entire economies.
- The difference between the state with the largest GDP, California, and the state with the smallest, Vermont, is $3,202,823.70 million (up from $2,598,825.80 million five years ago and up from $2,001,875.70 million ten years ago). California and Vermont had the largest and smallest GDP respectively both five and ten years ago.
- California has 93.66 times the GDP that Vermont does. The ratio of largest GDP to smallest GDP was up from 84.57 five years ago and up from 73.89 ten years ago.
- The median GDP in the 50 US states is $256,530.90 million (up from $210,540.95 million five years ago and up from $173,866.50 million ten years ago) and the mean $435,801.50 million (up from $364,591.74 million five years ago and up from $301,324.76 million ten years ago).
- Of the fifty states, 50 had the GDP rise over the past five years while 0 had the GDP decline.
- Of the fifty states, 50 had the GDP rise over the past ten years while 0 had the GDP decline.
- Data is from the first quarters of 2021, 2016, and 2011.
- 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.
In absolute terms, Wyoming had the worst performance over the past five years with a gain of $3,115.60 million. California had the best performance with a gain of $607,465.60 million. Over the past ten years, Wyoming had the worst performance with a gain of $546.90 million while California had the best performance with a gain of $1,208,047.00 million.
In relative terms, Wyoming had the worst performance over the past five years with a 8.67% rise in GDP while Utah had the best performance with a 36.34% rise in GDP. Over the past ten years, Alaska had the worst performance with a 1.28% rise in GDP while Washington had the best performance with a 74.20% rise in GDP.
There were 34 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 6 states with a GDP of less than $50,000 million ten years ago, 5 states five years ago, and 2 states now.
Washington (from 13th largest GDP to 9th largest GDP) rose 4 spots in the five year period. Conversely, New Jersey (from 8th to 10th), Minnesota (from 16th to 18th), Tennessee (from 18th to 20th), Kansas (from 31st to 33rd), and Alaska (from 46th to 48th) fell 2 spots in the five year period. Over the past ten years, Washington (from 14th to 9th largest GDP) rose 5 spots, while Alaska (from 43rd to 48th) fell 5 spots.
|State||First Quarter 2011||First Quarter 2016||First Quarter 2021|
US Bureau of Economic Analysis. 2021. "GDP by State." Accessed August 25, 2021. https://www.bea.gov/data/gdp/gdp-state.