The per capita GDP by state statistics place Wyoming in the 10th position, even though it . List of sovereign states in Europe by GDP (PPP) per capita, Map of sovereign states in Europe by projected 2022 GDP (PPP) per capita based on international dollars, Table of sovereign states in Europe by GDP (PPP) per capita, List of European countries by GDP (nominal) per capita, List of European countries by GNI (PPP) per capita, List of sovereign states in Europe by net average wage, List of countries by GDP (nominal) per capita, List of countries by GDP (PPP) per capita, "IMF WEO October 2022 Edition GDP (PPP) per capita international dollars", "IMF WEO October 2022 Edition GDP (PPP) per capita - international dollars", "IMF WEO October 2021 Edition GDP (PPP) per capita - international dollars", https://en.wikipedia.org/w/index.php?title=List_of_sovereign_states_in_Europe_by_GDP_(PPP)_per_capita&oldid=1162507145, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 4.0, This page was last edited on 29 June 2023, at 15:58. However, the value should still be relatively similar, if not identical. Of course, GDP is not the only viable indicator of economic health, and there are other means of measuring the financial well-being of any country. Gross domestic product, or GDP, is one of the most important and indicative measures as it provides vital information about the health and growth of the economy. Four states contribute over $1 trillion to the U.S. GDP: California, Texas, New York, and Florida. It has the second-best agriculture, forestry, fishing, and hunting industry in the USA, with a current GDP of $14 billion, only exceeded by California. Chained-dollar values are not additive, because the relative weights for a given period differ from those of the reference year. Great Lakes (Illinois, Indiana, Michigan, Ohio, and Wisconsin) A decade later, shes utilizing her educational background in English and knack for research to craft website content on crypto and ensure readers are fully informed. The contributions are additive and can be summed to the state's overall percent change. RELEASE TABLES Gross Domestic Product Table 7.1. In Q1, US GDP increased to $24.740 trillion, while in Q2, it reached $25.248 trillion. The collective GDP contribution of these five states is over 40% of the national GDP. United States GDP per capita 2022 Data - 2023 Forecast - TRADING ECONOMICS second quarter of 2020 through the second quarter of 2022 and for annual 2020 and 2021 per capita personal income estimates. Moreover, the stats show that the largest share of its GDP, or $282 billion, comes from this industry. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information New York was the only state that saw no change in GDP from Q3 to Q4 2022. Real gross domestic product (GDP) increased in 46 states and the District of Columbia in the fourth quarter of 2022, with the percent change in real GDP ranging from 7.0 percent in Texas to -4.3 percent in South Dakota. Of the states with the lowest per capita income, the top seven states are also among the ten states considered to be the least educated. The GDP per capita varies greatly over the globe. The description is composed by our . In BEA's state statistics, estimates of personal income for the United States is the sum of the state estimates and the estimate for the District of Columbia. Annualized growth rates show the rate of change that would have occurred had the pattern been repeated over four quarters (1 year). The manufacturing and real estate sectors are also big in Texas, each contributing $260 billion to the states GDP in Q2 of 2022. Federal government agencies use the statistics in forecasting models to project energy and water use. The numbers in this article are the GDP for each state in Q4 of 2022 from the Bureau of Economic Analysis. Real gross domestic product per capita in chained 2012 dollars. For more Information about COVID19 impacts, refer to, Stay informed about BEA developments by reading, Historical time series for these estimates can be accessed in BEA's, Access BEA data by registering for BEA's Data, For more on BEA's statistics, see our online journal, the, For upcoming economic indicators, see BEA's, For complete information on the sources and methods used to estimate gross domestic product and personal income by state, see BEA's. GDP per Capita by Country 2022 - World Populace Academic regional economists use the statistics for applied research. We believe transferring money between countries should be a painless experience for everyone involved. In the simplest of terms, growth in the GDP means growth in the economy. Dollars). PDF Gross Domestic Product by State and Personal Income by State, 2nd Data indicates growth in the US economy in both the first and second quarters of 2022. Saskatchewan moved from the province with the sixth highest relative GDP per capita, at 70.5% in 1950, to the province with the second highest GDP per capita, at 116.7% in 2016. GDP per capita EU member states 2022 | Statista GDP growth by state statistics show that Texas had one of highest growth rates in the USA entering the year 2022. An official website of the United States government. Temporary state refundable tax credits in these states and other states resulted in above-average increases in transfer receipts in the third quarter.1. Release Table for 2022, Release Tables: Per Capita Personal Income by State, Annual. 1. The list is initially sorted by Nominal GDP in 2021, but clicking the table headers can sort any column. Rest assured, these partnerships will not affect your fees when using a money transfer provider, and we guarantee all affiliate providers are trusted and regulated. Gross Domestic Product by State and Personal Income by State, 2nd Quarter 2022. Please see our latest releases for current estimates and contact information. As you might have guessed, the home of Silicon Valley and Hollywood has the highest GDP by state in the US. Earnings increased in 19 of the 24 industries for which BEA prepares quarterly estimates (table 6). Per Capita Income by State 2023 - World Population Review Of course, 2020 is an unusual year Note: US data are converted to Canadian dollars using the PPP . Quarterly values are expressed at seasonally adjusted annual rates. When looking at GDP by state in the United States, the GDP helps inform people about how well a state's economy is doing. When it comes to contributing to the national GDP, the Treasure State is the 20th largest contributor in the mining, quarrying, and oil and gas extraction industry, with $2.4 billion. The statistics are also used as a basis for allocating funds and determining matching grants to states. Canada gdp per capita for 2020 was $43,258, a 6.63% decline from 2019. According to the U.S. Bureau of Economic Analysis the real GDP for the U.S. as a whole increased at an annual rate of 2.6%. Earnings increased in all 50 states and the District of Columbia, increasing 6.5 percent nationally. $10,000 - 15,000 $15,000 - $20,000 $20,000 - $30,000 $30,000 - $45,000 $45,000 - $60,000 $60,000 - $90,000 $90,000 - $130,000 Canada GDP per capita 2022 Data - 2023 Forecast - TRADING ECONOMICS 50 Richest Cities In Europe By GDP Per Capita Savoteur As of the second quarter of 2022, the Southeast region of the country accounts for the largest share of its GDP, with $5.461 trillion, while the Rocky Mountains region for the smallest share of $858 billion. GDP per Capita in the United States averaged 39806.71 USD from 1960 until 2021, reaching an all time high of 61855.52 USD in 2021 and a record low of 19135.27 USD in 1960. This industry was the leading contributor to the increase in 14 states. The information services industry increased in all 50 states and the District of Columbia (table 3). While Florida is in the fourth spot in GDP contribution by state, its economy is very diverse and has multiple successful industries. World Economic Outlook (October 2022) - GDP per capita, current prices This page provides - Canada GDP per capita - actual . The percent change in earnings ranged from 8.5 percent in Texas to 3.2 percent in Indiana. Chained-dollar values are not additive, because the relative weights for a given period differ from those of the reference year. It does not include realized or unrealized capital gains or losses. Real GDP increased in most states and the District of Columbia in Q4 of 2022. Next release: December 23, 2022, 10:00 a.m. EST 1289.20. The very last entry on our gross domestic product by state rankings is also the least populated state in the USA. World Economic Outlook (October 2022) - GDP per capita, current prices. Population of metropolitan areas in the U.S. 2021, Population in the states of the U.S. 2022, U.S. state and local government outstanding debt 2020, by state, Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. Southwest (Arizona, New Mexico, Oklahoma, and Texas) Data indicates growth in the US economy in both the first and second quarters of 2022. The real estimates of Gross domestic product (GDP) by state are measured in chained (2012) dollars. Chained-dollar values of GDP by state are derived by applying national chain-type price indexes to the current dollar values of GDP by state for the 21 North American Industry Classification System-based industry sectors. Businesses, trade associations, and labor organizations use the statistics for market research. Transfer receipts increased in 35 states, increasing 1.5 percent nationally. Quantity indexes are calculated using a Fisher chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). In addition to these two global enterprises, California is the most populous state in the US, which is the biggest factor for its gigantic GDP. The percent change in real GDP in the fourth quarter ranged from 10.1 percent in Texas to -2.3 percent in Iowa (table 1). Quarter-to-quarter percent changes are calculated from unrounded data and are annualized. Personal current transfer receipts are benefits received by persons from federal, state, and local governments and from businesses for which no current services are performed. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. In North Dakota and South Dakota, the states with the largest and second-largest increases in personal income, increases in earnings in farms was the leading contributor to the increase in personal income in the second quarter (table 5). The Lone Star State has the largest mining, quarrying, and oil and gas extraction industry, in the USA. New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont) Gross Domestic Product by State and Personal Income by State, 2nd State personal income differs slightly from the estimate of U.S. personal income in the National Income and Product Accounts because of differences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of source data. Of course, GDP is not the only viable indicator of economic health, and there are other means of measuring the financial well-being of any country. Seasonal adjustment and annual rates. With $11 billion in the second quarter of 2022, the finance and insurance sector is the largest contributor to South Dakotas GDP. Canada gdp per capita for 2019 was $46,329, a 0.47% decline from 2018. Its education sector is also number one in the country though it contributes only $39 billion to the GDP. BEA used U.S. Census Bureau (Census) population figures to calculate per capita personal income estimates for the second quarter of 2020 through the second quarter of 2022 and for annual 2020 and 2021 per capita personal income estimates. 1364. Quarter-to-quarter dollar changes are differences between published estimates. The figures are not adjusted for inflation and are shown in millions of current dollars: As the data indicates, there have been no changes in the rankings in the previous two quarters, though, a few states went up or down for one or two spots compared to 2021. Notably, Maryland dropped two spots, from the 15th in 2021 to the 17th in 2022, which allowed Tennessee and Colorado each to climb one spot higher to the 16th and 15th place, respectively. Links on this site may direct you to the websites of our partners. U.S. real gross domestic product 2022, by state Published by Statista Research Department , Apr 18, 2023 In 2022, the state of California added about 2.89 trillion chained (2012) U.S.. statistic alerts) please log in with your personal account. Quarter-to-quarter percent changes are calculated from unrounded data and are annualized. on the BEA website. Debt as percentage of GDP by state U.S. 2020 | Statista Property income is rental income of persons, personal dividend income, and personal interest income. Please be aware that we generate revenue through partnerships with selected money transfer providers listed on our site. The durable-goods manufacturing industry was the leading contributor to the decrease in Indiana, the state with the third-largest decrease at 3.3 percent, and in two other states. Emerging stock markets projected to overtake the US by 2030 - Goldman Sachs In, BEA. Contributions to Percent Change in Real Gross Domestic Product (GDP), by State and Region, 2022:Q12022:Q2, Table 3. Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. Finally, Idaho took New Hampshires place on the 38th spot, pushing it one spot lower, and North Dakota climbed to 44th while Rhode Island dropped to 45th. [Online]. Real GDP by state may reflect a substantial volume of output that is sold to other states and countries. California is the state with the highest gross domestic product by state, with $3.558 trillion, as of the second quarter of 2022. Data on the GDP per capita by state show that New York is number one in this regard, even though it is number three when ranked based on total GDP. Gross domestic product (GDP) by state is the market value of goods and services produced by the labor and property located in a state. Note: transcontinental countries that are partly (but not entirely) located in Europe are also shown in the table, but the values shown are for the entire country. BEA's industry estimates are presented on an earnings by place-of-work basis. This page provides . State GDP Growth (2022) #1: San Francisco/Bay Area: California: 4.8% #2: Austin . When shes not investigating the crypto market and expanding her knowledge, youll find her randomly roaming cities and sunny coasts all over the world. It does not include realized or unrealized capital gains or losses. As a result, the real estate industry in the Golden Coast accounts for the biggest share of its GDP, with $452 billion. Rest assured, these partnerships will not affect your fees when using a money transfer provider, and we guarantee all affiliate providers are trusted and regulated. While Alberta did not move much in rank, its GDP per capita grew significantly from 1950 to 2016, rising from 98.9% relative GDP per capita in 1950 to 132.4% in 2016. Profit from the additional features of your individual account. Personal income increased in all 50 states and the District of Columbia in the second quarter, with the percent change ranging from 10.9 percent in North Dakota to 2.2 percent in Connecticut (table 3). We'd love to know what you think about MoneyTransfers.com. The GDP of a state refers to the overall production and distribution of goods in a state. Though it makes sense to refer to states as having a GDP, you might run into situations where the economic performance of a state is referred to as the GSP, which stands for gross state product. [Online]. Dollars). While it is second to last in most sectors, Americas Icebox has the 10th biggest mining, quarrying, and oil and gas extraction industry in the US, with a GDP of $12 billion. The expenditure method looks at how much money people spent in a given year, compared to how much they made in total. Canada gdp per capita for 2018 was $46,549, a 3.14% increase from 2017. Millions of Chained 2012 Dollars. Whats interesting is that Mount Rushmore State is 46th in both GDP and population in the US but has the 14th largest agriculture, forestry, fishing, and hunting industry in the country. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information Annualized rates of change can be calculated as follows: (((level of later quarter / level of earlier quarter)^4)-1)*100. It is calculated by dividing the region's income by its population. The expenditure method of determining GDP is the exact opposite way of calculating gross domestic product for a particular state. Business Solutions including all features. Furthermore, the data on GDP ranking by state also indicates North Carolina took Washingtons place and joined the top ten in 2022, while Oklahoma changed places with Iowa for the 30th position. For earlier estimates, BEA continues to use intercensal population statistics that it developed based on Census' methodology. Effects of Selected Federal Pandemic Response Programs on State Personal Income, 3rd Quarter 2022, "Federal Recovery Programs and BEA Statistics". Quantities and prices. On the other hand, Alaskas finance and insurance sector is the smallest in the USA, with a contribution of only 1.4 billion. Academic regional economists use the statistics for applied research. World GDP per Capita Ranking 2022 | Data and Charts Popular Destinations for Sending Money Abroad. Real Gross Domestic Product: Real Estate and Rental and Leasing (NAICS 53) in the United States. Southeast (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia) GDP by state is the state counterpart of the nation's GDP, the Bureau's featured and most comprehensive measure of U.S. economic activity. As a result, the real estate industry in the Golden Coast accounts for the biggest share of its GDP, with $452 billion. See also: GDP by Country # Data indicates growth in the US economy in both the first and second quarters of 2022. dollars)." Here are the 10 states with the highest GDP per capita: Enter your email below, and you'll receive this table's data in your inbox momentarily. Property income increased in all 50 states and the District of Columbia, increasing 5.5 percent nationally. Can I Use PayPal to Transfer Money Internationally. In Q1, US GDP increased to $24.740 trillion, while in Q2, it reached $25.248 trillion. The figures are not adjusted for inflation and are shown in millions of current dollars: As the data indicates, there have been no changes in the rankings in the previous two quarters, though, a few states went up or down for one or two spots compared to 2021. Gross Domestic Product by State and Personal Income by State, 3rd Quarter 2022. Gross Domestic Product by State, 4th Quarter 2021 . The collective GDP contribution of these five states is over 40% of the national GDP. USD. The contributions are additive and can be summed to the state's overall percent change. The mining industry was the leading contributor to the increases in real GDP in Alaska, Texas, Oklahoma, Wyoming, North Dakota, and New Mexico, the six states with the largest increases in real GDP, and in West Virginia, the state with the eighth-largest increase in real GDP. The state with the lowest gross domestic product in the USA is Vermont, with $39.538 billion. Education at the primary, secondary and tertiary levels . Canada gdp per capita for 2021 was $51,988, a 20.18% increase from 2020. Please share your thoughts on how we can improve our service! Quantities, or real measures, are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 1000+ markets in 190+ countries & territories, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Show publisher information GDP per Capita - Worldometer Accessed June 30, 2023. https://www.statista.com/statistics/248053/us-real-gross-domestic-product-gdp-by-state/, BEA. The Periodic Table of Commodity Returns (2013-2022) . While Florida is in the fourth spot in GDP contribution by state, its economy is very diverse and has multiple successful industries. Subject. Map of sovereign states in Europe by projected 2022 GDP (PPP) per capita based on international dollars. With this quarterly system in place, the progression or digression of the GDP in each state can be seen so state governments can understand how their economy performed throughout the year. Gross domestic product, or GDP, is one of the most important and indicative measures as it provides vital information about the health and growth of the economy. 1324. Gross Domestic Product by State and Personal Income by State, 4th Quarter 2022 and Year 2022 Full Release & Tables Tables Only Quarterly Highlights Annual Highlights Technical Note Effects of Selected Federal Pandemic Response Programs on State Personal Income, 4th Quarter 2022 Quantity indexes are calculated using a Fisher chain-weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). To the extent that a state's output is produced and sold in national markets at relatively uniform prices (or sold locally at national prices), real GDP by state captures the differences across states that reflect the relative differences in the mix of goods and services that the states produce. Understanding Gross Domestic Product (GDP) Gros domestic. Currently, you are using a shared account. Real per capita gross domestic product of the United States in 2022, by state (in chained 2012 U.S. dollars) Personal income is measured before the deduction of personal income taxes and other personal taxes and is reported in current dollars (no adjustment is made for price changes). Please see our, EMBARGOED UNTIL RELEASE AT 10:00 a.m. EST, Friday, December 23, 2022, 4600 Silver Hill Road Suitland, MD 20746. Current-dollar statistics are valued in the prices of the period when the transactions occurredthat is, at "market value." In the second quarter of 2022, as real GDP for the nation decreased at an annual rate of 0.6 percent, real GDP decreased in 8 of the 23 industry groups for which BEA prepares quarterly state estimates (table 2). Chained-dollar values of GDP by state are derived by applying national chain-type price indexes to the current dollar values of GDP by state for the 23 North American Industry Classification System-based industry sectors. The top 5 regions also includes Massachusetts, New York, Alaska, and North Dakota. Learn more about how Statista can support your business. Real gross domestic product (GDP) of the United States in 2022, by state (in billion chained 2012 U.S. dollars) [Graph]. List States and union territories of India ordered by Area Population Health care and social assistance; professional, scientific, and technical services; and state and local government were the leading contributors to the overall growth in earnings. Show publisher information Gross Domestic Product by State and Personal Income by State, 3rd Current-dollar statistics are valued in the prices of the period when the transactions occurredthat is, at "market value." For example: These data have been superseded. Real values are inflation-adjusted statisticsthat is, these exclude the effects of price changes. In 2019, the per capita income was $56,663. Fig-ure 1 presents the results for 2020, in Cana-dian dollars. Unlike the other states in the bottom five, Vermont doesnt have any specific industry going for it, and it is among the bottom 10 states by GDP across every sector. List of countries by GDP (nominal) per capita - Wikipedia California is the state with the highest gross domestic product by state, with $3.558 trillion, as of the second quarter of 2022. Per capita personal income is calculated as the total personal income of the residents of a state divided by the population of the state. Per capita income can be used to evaluate the standard of living and quality of life of a population. Real GDP by state may reflect a substantial volume of output that is sold to other states and countries. The top five states by real GDP per capita in the United States are Texas, Florida, West Virginia, Delaware, and Nevada.