A state’s (or country’s) gross domestic product is the measure of the total value of goods and services the state produces within a certain time period. The benefit of having a metric like this is easy comparison, tracking, and planning of resource allocation, as well as gauging the condition of the states’ economies.
Read on for an exhaustive overview of GDP by state data, GDP per capita by state, more about the states with the highest and lowest GDPs, as well as the highest level of change. The data given in the table is based on current-dollar value, in annualized projections for easier comparison of historical data. Also, the US states are ranked by GDP according to the latest data from Q2 2022.
GDP by State – The Highlights
In Q2 2022, real national GDP decreased at an annual rate of 0.6%.
The US GDP was $25.66 trillion in current dollar value in Q3 2022.
California had the highest annualized GDP of $3.56 trillion in Q2 2022.
Vermont had the lowest annualized GDP of $40.24 billion in Q2 2022.
The District of Columbia had the highest GDP per capita, at $189,513.
Mississippi had the lowest GDP per capita with $35,374.
GDP Ranking by State
| Rank | State | Q2 of 2022 GDP (in millions) | 2021 GDP | 2021 GDP per Capita |
|---|---|---|---|---|
| 1 | California | $3,558,511.9 | $3,373,240.7 | $73,264 |
| 2 | Texas | $2,354,455.1 | $2,051,768.6 | $61,469 |
| 3 | New York | $2,034,912.3 | $1,901,296.5 | $76,365 |
| 4 | Florida | $1,371,467.9 | $1,255,558.3 | $47,269 |
| 5 | Illinois | $1,024,018.9 | $945,673.8 | $61,560 |
| 6 | Pennsylvania | $915,423.8 | $844,496.5 | $54,842 |
| 7 | Ohio | $817,626.8 | $756,617.2 | $53,420 |
| 8 | Georgia | $747,535.2 | $691,626.9 | $53,270 |
| 9 | New Jersey | $737,654.4 | $682,945.9 | $61,172 |
| 10 | North Carolina | $723,163.4 | $662,120.8 (↑ from 11th) | $51,362 |
| 11 | Washington | $717,336.2 | $677,489.5 (↓ from 10th) | $74,319 |
| 12 | Massachusetts | $679,121.7 | $641,332.2 | $76,234 |
| 13 | Virginia | $642,755.1 | $604,957.6 | $58,474 |
| 14 | Michigan | $615,407.9 | $572,205.8 | $47,934 |
| 15 | Colorado | $480,828.3 | $436,359.5 (↑ from 16th) | $64,308 |
| 16 | Tennessee | $469,937.6 | $427,125.5 (↑ from 17th) | $50,530 |
| 17 | Maryland | $465,635.4 | $443,929.9 (↓ from 15th) | $59,783 |
| 18 | Arizona | $453,602.3 | $420,026.7 | $47,779 |
| 19 | Indiana | $452,422.4 | $412,975.2 | $50,873 |
| 20 | Minnesota | $442,528.3 | $412,458.6 | $60,659 |
| 21 | Wisconsin | $398,850.0 | $368,611.3 | $51,980 |
| 22 | Missouri | $386,397.3 | $358,572.0 | $47,937 |
| 23 | Connecticut | $317,906.7 | $298,395.2 | $68,381 |
| 24 | Oregon | $294,324.8 | $272,190.9 | $53,691 |
| 25 | South Carolina | $292,932.0 | $269,802.5 | $42,585 |
| 26 | Louisiana | $281,047.1 | $258,571.3 | $47,827 |
| 27 | Alabama | $275,396.0 | $254,109.7 | $41,664 |
| 28 | Kentucky | $258,293.5 | $237,182.0 | $43,868 |
| 29 | Utah | $245,830.9 | $225,340.3 | $55,995 |
| 30 | Oklahoma | $242,302.6 | $215,336.3 (↑ from 31th) | $48,469 |
| 31 | Iowa | $230,104.3 | $216,860.2 (↓ from 30th) | $56,295 |
| 32 | Nevada | $213,409.5 | $194,486.6 | $50,753 |
| 33 | Kansas | $209,272.0 | $191,380.6 | $55,303 |
| 34 | Arkansas | $163,778.9 | $148,676.1 | $40,764 |
| 35 | Nebraska | $161,259.6 | $146,285.4 | $62,197 |
| 36 | Mississippi | $138,156.3 | $127,307.7 | $35,374 |
| 37 | New Mexico | $122,358.8 | $109,582.8 | $44,249 |
| 38 | Idaho | $108,437.8 | $96,282.8 (↑ from 39th) | $42,134 |
| 39 | New Hampshire | $104,172.5 | $99,673.3 (↓ from 38th) | $59,746 |
| 40 | Hawaii | $96,978.9 | $91,096.1 | $51,713 |
| 41 | West Virginia | $96,723.7 | $85,434.2 | $40,014 |
| 42 | Delaware | $86,672.7 | $81,160.0 | $64,187 |
| 43 | Maine | $83,514.4 | $77,963.3 | $46,343 |
| 44 | North Dakota | $74,744.6 | $63,559.6 (↑ from 45th) | $69,429 |
| 45 | Rhode Island | $70,759.5 | $66,570.9 (↓ from 44th) | $49,481 |
| 46 | South Dakota | $67,489.3 | $61,684.7 | $55,349 |
| 47 | Montana | $64,757.4 | $58,699.8 | $44,352 |
| 48 | Alaska | $64,256.6 | $57,349.4 | $69,430 |
| 49 | Wyoming | $48,043.5 | $41,510.2 | $62,888 |
| 50 | Vermont | $40,248.6 | $37,103.8 | $47,318 |
| -- | District of Columbia | $160,728.2 | $153,670.5 | $189,513 |
(BEA, Statista)
Highest GDP by State
California ($3.56 trillion)
Economically, California is the strongest state in the US, so it’s expected that it has the largest GDP by state. Its most developed sector is finance, insurance, real estate and leasing, which contributed $473.16 billion to its GDP (in chained-dollar value) in 2021. Professional and business services is the second-largest sector in the state, followed by the IT sector.
California has the highest GDP contribution by state, estimated at 14.8% in 2021. If California were a country, it would have been the world’s fourth strongest economy, ranking above Germany. Another factor in GDP of each state is population size: California has the largest population in the US of nearly 40 million people.
(Statista)
Texas ($2.35 trillion)
Texas has the second-highest US GDP by state, and is the second most populous state. The state is responsible for about 9% of US GDP, and finance, insurance, real estate and leasing is also its largest sector. Finance is followed by professional services, manufacturing, while Texas’s fourth sector in size is mining and oil extraction.
(Federal Reserve Bank of Dallas, Statista)
New York ($2 trillion)
FInance, leasing, insurance, real estate is the largest sector in New York, raking in $456 billion in 2021. It’s followed by professional services at $219 billion, and IT at $183 billion. New York also has the highest per capita GDP by state at $76,365. Again, it’s no surprise as the state has almost 20 million inhabitants.
(Statista)
Florida ($1.37 trillion)
Florida is the third most populous state, with the growth of the population fueling the economy and the growth of income. According to the 2020 Census, it had 21,538,187 residents. Some of the main sectors in the state’s economy are agriculture, mining, fishing, and tourism.
(EDR)
Illinois ($1 trillion)
The Prairie State contributes to the GDP through its diverse economy: its third largest sector is manufacturing, followed by government services, educational service and healthcare, trade, IT, transportation and services. Illinois comes sixth by population size.
(Statista)
Lowest GDP by State
South Dakota ($67.49 billion)
The population of South Dakota is only 895,376 in 2021, explaining its low gross domestic product by state. The state’s biggest industry is finance and insurance, along with agriculture, tourism, forestry, and mining.
(BEA)
Montana ($64.75 billion)
Besides finance and business, Montana’s economy is sustained by educational and healthcare services, retail trade, manufacturing, arts, recreation, entertainment, hospitality, and construction. Its population is 1.14 million people.
(Statista)
Alaska ($64.25 billion)
Like other states on the list of low GDP states, Alaska has a small population. Only about 732,673 people live on The Last Frontier, with mining, oil, and gas driving its economy (and also enabling this distant state a high GDP per capita by state).
(Statista)
Wyoming ($48.04 billion)
Along with Alaska, Wyoming is another state resting on the mining, oil, and gas sector. Apart from the finance and government services sectors, it’s also strong in transportation, manufacturing, and professional services. Interestingly, its population is only about 578,000.
(Statista)
Vermont ($40.24 billion)
Vermont is another small state with only about 645,000 inhabitants, so it’s no surprise that it’s the state with the lowest GDP ranking. Its strong suite is its finance sector, as well as the government sector, business, manufacturing, education, and tourism.
(Statista)
GDP per Capita by State
While GDP describes a state’s total economic output, GDP per capita shows how much of the output can be attributed to each individual inhabitant. Also, as GDP often grows with population, GDP per capita helps show the economic state of each place more accurately. Of course, this does not always mean a better standard of living, as some states have particularly high inequality between the rich and the poor.
Highest GDP by state per capita:
New York ($76,365)
Massachusetts ($76,234)
Washington ($74,319)
California ($73,264)
Alaska ($69,430)
Lowest GDP by state per capita:
Mississippi ($35,374)
West Virginia ($40,014)
Arkansas ($40,764)
Alabama ($41,664)
Idaho ($42,134)
GDP by State – The Bottom Line
GDP is a useful economic metric, showing the health of a state’s or country’s economy. The US consists of very diverse states in size, population size, industry and development, with GDP managing to describe the interaction of these economic factors.
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