The chart above shows the annualized nominal gross domestic product (GDP) in each US state as of the first quarter of 2020 in millions of dollars, the change from the previous quarter, and the GDP one year prior. Nebraska and South Dakota were the only states to see an increase in GDP over the previous quarter.
- The difference between the state with the largest GDP, California, and the state with the smallest, Vermont, is $3,129,453.60 million (down from $3,147,980.30 million last quarter and up from $3,053,385.20 million last year). California and Vermont had the largest and smallest GDP respectively both last quarter and last year.
- California has 90.60 times the GDP that Vermont does. The ratio of largest GDP to smallest GDP was up from 90.25 last quarter and up from 90.06 last year.
- The median GDP in the 50 US states is $251,140.05 million (down from $252,688.10 million last quarter and up from $245,022.70 last year) and the mean $425,371.36 million (down from $429,171.76 the previous quarter and up from $416,714.35 last year).
- Two states saw their GDP rise in current dollars from the previous quarter. Forty-eight states saw their GDP shrink in current dollars from the previous quarter.
- Forty-five states saw their GDP rise in current dollars from last year. Five states saw their GDP shrink in current dollars from last year.
- Data is from the first quarter of 2019, the fourth quarter of 2019, and the first quarter of 2020.
- 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.
- Data may conflict with previous report as statistical agencies make updates to the data over the course of each release.
- All figures are rounded to the nearest hundredth.
In absolute terms, Texas saw the largest decrease over the previous quarter with a loss of $26,704.60 million. Nebraska had the largest growth with a gain of $63.70 million. Year over year, Oklahoma had the largest decrease with a loss of $2,324.40 million while California had the greatest increase with a gain of $76,711.00 million.
In relative terms, Wyoming had the largest decrease over the previous quarter with a 3.29% drop in GDP while South Dakota had the greatest increase with a 0.06% rise in GDP. Year over year, Wyoming had the largest decrease with a 2.31% drop in GDP while Utah had the largest growth with a 3.60% rise in GDP.
California accounted for nearly one-sixth of the economic output of the 50 states at 14.88%. It, with Texas and New York accounted for just under one-third of the economic output of the 50 states at 31.90%. Adding in Florida, Illinois, Pennsylvania, Ohio, and New Jersey amounts to just over half the economic output of the 50 states at 51.50%.
South Dakota (from 47th to 46th largest GDP) surpassed one state over the previous quarter. Alaska (from 46th to 47th) was bested by one state. Year over year, South Dakota (from 47th to 46th) rose one spot. On the flip side, Alaska (from 46th to 47th) fell one.
|State||First Quarter 2019||Fourth Quarter 2019||First Quarter 2020|
US Bureau of Economic Analysis. 2020. "GDP by State." Accessed July 14, 2020. https://www.bea.gov/data/gdp/gdp-state.