The chart above shows the annualized nominal gross domestic product (GDP) in each US state as of the fourth quarter of 2020 in millions of dollars, the change from the previous quarter, and the GDP one year prior. Only 13 states grew over the same quarter last year.
- The difference between the state with the largest GDP, California, and the state with the smallest, Vermont, is $3,130,625.90 million (up from $3,087,108.30 million last quarter and down from $3,170,679.90 million last year). California and Vermont had the largest and smallest GDP respectively both last quarter and last year.
- California has 93.85 times the GDP that Vermont does. The ratio of largest GDP to smallest GDP was up from 93.77 last quarter and up from 93.39 last year.
- The median GDP in the 50 US states is $248,528.10 million (up from $245,024.95 million last quarter and down from $255,178.55 last year) and the mean $424,592.58 million (up from $418,146.01 the previous quarter and down from $429,636.22 last year).
- Of the 50 states, 50 saw a rise of GDP in current dollars from the previous quarter while zero saw a contraction.
- Of the 50 states, 13 saw a rise of GDP in current dollars from last year while 37 saw a contraction.
- Data is from the fourth quarter of 2019, the third quarter of 2020, and the fourth 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, Vermont had the worst performance over the previous quarter with a gain of $439.70 million. Texas had the best performance with a gain of $48,094.90 million. Year over year, New York had the worst performance with a loss of $66,634.00 million while Washington had the best performance with a gain of $13,129.30 million.
In relative terms, Michigan had the worst performance over the previous quarter with a 0.65% gain in GDP while South Dakota had the best performance with a 3.44% gain in GDP. Year over year, Wyoming had the worst performance with a 9.10% drop in GDP while Utah had the best performance with a 3.15% gain in GDP.
California accounted for nearly one-sixth of the economic output of the 50 states at 14.91%. It, with Texas and New York accounted for just under one-third of the economic output of the 50 states at 31.60%. Adding in Florida, Illinois, Pennsylvania, Ohio, and Washington amounts to just over half the economic output of the 50 states at 51.12%.
Nebraska (from 35th to 34th) and Idaho (from 40th to 39th) rose one spot over the previous quarter. Arkansas (from 34th to 35th) and New Hampshire (from 39th to 40th) fell two spots. Year over year, Washington (from 10th to 8th) rose two spots. On the flip side, New Jersey (from 8th to 10th), Louisiana (from 24th to 26th), and Oklahoma (from 29th to 31st) fell two spots.
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US Bureau of Economic Analysis. 2021. "GDP by State." Accessed March 30, 2021. https://www.bea.gov/data/gdp/gdp-state.