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 the previous quarter, and the GDP one year prior. Every single state's economy grew both over the past quarter and the past year.
- The difference between the state with the largest GDP, California, and the state with the smallest, Vermont, is $2,984,183 million (up from $2,953,296 million last quarter and up from $2,847,079 million last year). California and Vermont had the largest and smallest GDP respectively both last quarter and last year.
- California has 88.37 times the GDP that Vermont does. The ratio of largest GDP to smallest GDP was down from 88.39 last quarter and up from 87.43 last year.
- The median GDP in the 50 US states is $238,726 million (up from $236,318 million last quarter and up from $227,751 last year) and the mean $412,287 million (up from $408,164 the previous quarter and up from $391,683 last year).
- All 50 states saw their GDP rise in current dollars from the previous quarter.
- All 50 states saw their GDP rise in current dollars from last year.
- Data is from the fourth quarter of 2018.
- 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 saw the smallest increase over the previous quarter with a growth of $39.2 million. California had the largest growth with a gain of $31,247.3 million. Year over year, Vermont had the smallest increase with a gain of $1,212.1 million while California had the greatest increase with a gain of $138,316.4 million.
In relative terms, West Virginia had the smallest increase over the previous quarter with a 0.06% rise in GDP while Texas had the greatest increase with a 1.41% rise in GDP. Year over year, Rhode Island had the smallest growth with a 2.29% rise in GDP while Washington had the largest growth with a 7.79% rise in GDP.
California accounted for nearly one-sixth of the economic output of the 50 states at 14.64%. It, with Texas and New York accounted for just under one-third of the economic output of the 50 states at 31.72%. Adding in Florida, Illinois, Pennsylvania, Ohio, and New Jersey amounts to just over half the economic output of the 50 states at 51.44%.
Washington overcame Massachusetts from the previous quarter to become the state with the 10th largest GDP (from 11th the previous quarter). Massachusetts went from 10th largest to 11th over the course of the quarter. Year over year, Washington (12th to 10th largest GDP) and Colorado (18th to 16th) both rose two spots while Tennessee (19th to 18th), West Virginia (41st to 40th), and North Dakota (46th to 45th) each rose one. On the flip side, Indiana (16th to 19th largest GDP) fell three spots, while Massachusetts (10th to 11th), North Carolina (11th to 12th), Idaho (40th to 41st), and Alaska (45th to 46th) each fell one.
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US Bureau of Economic Analysis. 2019. "GDP by State." Accessed May 22, 2019. https://www.bea.gov/data/gdp/gdp-state.