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 five years ago, and the GDP ten years prior. California's economy grew more over the past five years than the size of 43 states' entire economies.
Findings
- The difference between the state with the largest GDP, California, and the state with the smallest, Vermont, is $3,129,453.60 million (up from $2,473,694.20 million five years ago and up from $1,916,164.40 million ten years ago). California and Vermont had the largest and smallest GDP respectively both five and ten years ago.
- California has 90.60 times the GDP that Vermont does. The ratio of largest GDP to smallest GDP was up from 82.77 five years ago and up from 73.35 ten years ago.
- The median GDP in the 50 US states is $251,140.05 million (up from $199,006.85 million five years ago and up from $166,838.70 million ten years ago) and the mean $425,371.36 million (up from $354,955.57 million five years ago and up from $290,328.27 million ten years ago).
- Forty-nine states saw their GDP rise over the past five years while one saw its GDP decline.
- All 50 states saw their GDP rise over the past ten years.
Caveats
- Data is from the first 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, North Dakota had the worst performance over the past five years with a loss of $572.50 million. California had the best performance with a gain of $660,435.70 million. Over the past ten years, Wyoming had the worst performance with a gain of $1,250.00 million while California had the best performance with a gain of $1,221,731.90 million.
In relative terms, North Dakota had the worst performance over the past five years with a 1.01% drop in GDP while Washington had the best performance with a 31.74% rise in GDP. Over the past ten years, Wyoming had the worst performance with a 3.36% rise in GDP while Washington had the best performance with a 69.72% 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 six states with a GDP of less than $50,000 million ten years ago, four states five years ago, and two states now.
Washington (from 14th largest GDP to 10th largest GDP) surpassed four states in the five year period. Conversely, North Carolina (from 10th to 12th), Indiana (from 17th to 19th), Kansas (from 31st to 33rd), Delaware (from 40th to 42nd), and North Dakota (from 43rd to 45th) were each surpassed by two states in the five year period. Over the past ten years, Washington (from 14th to 10th largest GDP), Colorado (from 20th to 16th), and North Dakota (from 49th to 45th) each surpassed four states, while Virginia (from 9th to 13th), Missouri (from 18th to 22nd), and Alaska (from 43rd to 47th) were each surpassed by four.
Data
| State | First Quarter 2010 | First Quarter 2015 | First Quarter 2020 |
|---|---|---|---|
| Alabama | 170,131 | 197,319.3 | 232,088.7 |
| Alaska | 51,525.4 | 51,319.1 | 53,966.4 |
| Arizona | 243,046.2 | 292,638.8 | 370,659.6 |
| Arkansas | 97,882.2 | 116,942 | 133,965.6 |
| California | 1,942,648.5 | 2,503,944.7 | 3,164,380.4 |
| Colorado | 251,071.9 | 314,437.6 | 392,477.4 |
| Connecticut | 235,511.2 | 257,686.5 | 287,710.5 |
| Delaware | 57,422.7 | 70,549 | 76,085.6 |
| Florida | 725,303.8 | 873,127.3 | 1,104,271 |
| Georgia | 410,351.6 | 503,103.5 | 621,477.8 |
| Hawaii | 66,775.5 | 81,135.9 | 97,089 |
| Idaho | 54,671.2 | 65,543.1 | 81,806.7 |
| Illinois | 648,712 | 781,698.7 | 901,480.1 |
| Indiana | 272,406.1 | 326,771.4 | 378,131 |
| Iowa | 138,732 | 176,013.1 | 196,618.8 |
| Kansas | 123,625.8 | 149,124.9 | 175,123.7 |
| Kentucky | 159,582.2 | 188,639.3 | 215,237.5 |
| Louisiana | 219,434.1 | 236,540.4 | 262,168.1 |
| Maine | 51,214.4 | 56,364.2 | 67,793.2 |
| Maryland | 310,519.1 | 362,502.7 | 431,856.5 |
| Massachusetts | 400,013.9 | 493,773.5 | 600,554.1 |
| Michigan | 372,355.1 | 464,659.6 | 541,621.8 |
| Minnesota | 263,909.2 | 327,207.7 | 383,693.8 |
| Mississippi | 93,887.2 | 104,678.3 | 119,353.5 |
| Missouri | 256,606.5 | 292,081.5 | 334,659.6 |
| Montana | 37,607.9 | 46,017.4 | 52,242.9 |
| Nebraska | 89,012.5 | 113,550.2 | 129,161.2 |
| Nevada | 121,291.6 | 140,086.5 | 177,114.2 |
| New Hampshire | 62,653.2 | 73,880.6 | 89,128.3 |
| New Jersey | 493,135.3 | 563,708.9 | 647,176.6 |
| New Mexico | 82,998.7 | 90,896.7 | 103,463.9 |
| New York | 1,205,081.8 | 1,469,900.6 | 1,729,574.9 |
| North Carolina | 409,079 | 496,283.1 | 592,519.8 |
| North Dakota | 33,842.3 | 56,813.7 | 56,241.2 |
| Ohio | 484,963.2 | 604,551.1 | 699,087.9 |
| Oklahoma | 148,941.2 | 188,030.8 | 202,133.9 |
| Oregon | 163,546.4 | 198,743 | 253,989.5 |
| Pennsylvania | 585,614.3 | 704,504.5 | 815,081 |
| Rhode Island | 48,734.6 | 55,986.3 | 63,865.3 |
| South Carolina | 161,062.9 | 199,270.7 | 248,290.6 |
| South Dakota | 36,298.2 | 46,572.2 | 54,088.8 |
| Tennessee | 253,552.8 | 315,238.3 | 381,898 |
| Texas | 1,215,957 | 1,573,678.9 | 1,891,360.4 |
| Utah | 115,890.4 | 146,297 | 191,418.9 |
| Vermont | 26,484.1 | 30,250.5 | 34,926.8 |
| Virginia | 415,585.4 | 475,367.6 | 560,005.7 |
| Washington | 357,597.2 | 460,680.1 | 606,919.2 |
| West Virginia | 63,857 | 69,999.8 | 76,831 |
| Wisconsin | 249,054.9 | 301,561.1 | 349,294.8 |
| Wyoming | 37,232.8 | 38,106.8 | 38,482.8 |
Sources
US Bureau of Economic Analysis. 2020. "GDP by State." Accessed August 19, 2020. https://www.bea.gov/data/gdp/gdp-state.