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 the previous quarter, and the GDP one year prior. Every single state had a decrease in GDP over the previous quarter and over the previous year.
- The difference between the state with the largest GDP, California, and the state with the smallest, Vermont, is $2,862,879.10 million (down from $3,155,686.00 million last quarter and down from $3,085,367.90 million last year). California and Vermont had the largest and smallest GDP respectively both last quarter and last year.
- California has 95.88 times the GDP that Vermont does. The ratio of largest GDP to smallest GDP was up from 93.77 last quarter and up from 92.27 last year.
- The median GDP in the 50 US states is $224,409.30 million (down from $249,396.55 million last quarter and down from $248,283.15 last year) and the mean $385,292.45 million (down from $425,895.70 the previous quarter and down from $421,346.11 last year).
- Zero states saw a rise of GDP in current dollars from the previous quarter. Fifty saw a contraction.
- Zero states saw a rise of GDP in current dollars from last year. Fifty states saw a contraction.
- Data is from the second quarter of 2019, the first quarter of 2020, and the second 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, California had the worst performance over the previous quarter with a loss of $296,648.70 million. Vermont had the best performance with a loss of $3,841.80 million. Year over year, California had the worst performance with a loss of $226,119.80 million while South Dakota had the best performance with a loss of $3,546.00 million.
In relative terms, Wyoming had the worst performance over the previous quarter with a 14.08% drop in GDP while Delaware had the best performance with a 6.13% drop in GDP. Year over year, Wyoming had the worst performance with a 17.54% drop in GDP while Utah had the best performance with a 3.79% drop in GDP.
California accounted for nearly one-sixth of the economic output of the 50 states at 15.02%. It, with Texas and New York accounted for just under one-third of the economic output of the 50 states at 31.71%. Adding in Florida, Illinois, Pennsylvania, Ohio, and Georgia amounts to just over half the economic output of the 50 states at 51.25%.
Arizona (from 20th to 17th largest GDP) surpassed three states over the previous quarter. New Jersey (from 8th to 10th) was bested by two states. Year over year, Arizona (from 20th to 17th) rose three spots. On the flip side, New Jersey (from 8th to 10th), Louisiana (from 24th to 26th), and Oklahoma (from 29th to 31st), each fell two.
|State||Second Quarter 2019||First Quarter 2020||Second Quarter 2020|
US Bureau of Economic Analysis. 2020. "GDP by State." Accessed October 14, 2020. https://www.bea.gov/data/gdp/gdp-state.