GDP by State — Stats and Trends

26.11.2022
Milena

The gross domestic product (GDP) represents the monetary value of all services and goods made in a country within a given period. Experts use GDP to establish a country’s economic state and potential. While usually calculated for countries, in the United States, the GDP by state is equally important. It tells volumes about how each state is doing financially, and whether there is progress on the horizon. We also use the GDP of each state to determine what share of the US GDP they represent. The percentage gives a clear picture of each state’s contribution and prosperity.

GDP of the United States

Before providing data on the GDP of every state, let’s quickly go over the essential figures regarding the US GDP. Below, we’ll also see how each region is doing compared to the rest. Then, we’ll focus on the GDP by US state.

US RegionGDP Q4 2020(in millions)GDP Q4 2021(in millions)Percentage of Total US GDP
Q4 2021
United States$21,477,597$24,002,815100.0
New England$1,142,558$1,260,5025.3
Mideast$3,822,776$4,181,85617.4
Great Lakes$2,845,578$3,148,75813.1
Plains$1,359,002$1,509,8136.3
Southeast$4,608,412$5,161,68121.5
Southwest$2,506,381$2,867,64211.9
Rocky Mountain$776,161$876,0063.6
Far West$4,280,066$4,846,74720.2

As you can see, the US had a GDP of $24 trillion in the last quarter of 2021. In 2021, the country’s GDP per capita was $59,085 and is expected to hit $67,000 by 2024.

Among the US regions, the Southeast contributed the most towards the country’s total GDP, or $5.16 trillion. The Rocky Mountain region, by contrast, had the lowest contribution in Q4 of 2021 of $876 billion.

GDP by State

What state has the highest GDP? What state contributes the least toward the US GDP?

Scroll down to find out.

StateGDP Q4 2021(in millions)Percentage of Total US GDP Q4 2021GDP per capita in 2021
California$3,513,34814.6$73,264
Texas$2,104,5798.8$61,469
New York$1,914,2078.0$76,365
Florida$1,286,0865.4$47,269
Illinois$973,4864.1$61,560
Pennsylvania$874,8813.6$54,842
Ohio$765,0033.2$53,420
Georgia$713,9483.0$53,270
New Jersey$700,1192.9$61,172
Washington$696,7482.9$74,319
North Carolina$684,6072.9$51,362
Massachusetts$663,7502.8$76,324
Virginia$614,7542.6$58,474
Michigan$592,3492.5$47,934
Maryland$451,9861.9$59,783
Colorado$440,9031.8$64,308
Tennessee$439,0501.8$50,530
Indiana$438,0121.8$50,873
Arizona$429,8191.8$47,779
Minnesota$429,3911.8$60,659
Wisconsin$379,9091.6$51,980
Missouri$373,1051.6$47,937
Connecticut$308,6711.3$68,381
South Carolina$281,7541.2$42,585
Oregon$279,4241.2$53,691
Louisiana$267,1261.1$47,827
Alabama$257,4651.1$41,664
Kentucky$244,4801.0$43,868
Utah$230,3421.0$55,995
Iowa$225,6960.9$56,295
Oklahoma$218,5640.9$48,469
Nevada$204,3060.9$50,753
Kansas$198,2910.8$55,303
District of Columbia$156,4570.7$189,513
Nebraska$154,1490.6$62,197
Arkansas$150,4830.6$40,764
Mississippi$129,9740.5$35,374
New Mexico$114,6800.5$44,249
New Hampshire$102,4390.4$59,746
Idaho$98,4550.4$42,134
Hawaii$94,9370.4$51,713
West Virginia$91,9530.4$40,014
Delaware$84,2060.4$64,187
Maine$79,1770.3$46,343
Rhode Island$68,8230.3$49,841
North Dakota$66,3720.3$69,429
South Dakota$62,8090.3$55,349
Montana$61,9830.3$44,352
Alaska$57,9830.2$69,430
Wyoming$44,3230.2$62,888
Vermont$37,6440.2$47,318

(BEA, Statista, Trading Economics)

Alabama

Alabama’s GDP represents only 1.1% of the US GDP. The state ranked 48th, with the Alabama GDP per capita in 2021 totaling $41,644. Alabama, however, saw its GDP increase over the course of 2021, climbing from 233.63 billion in Q4 2020 to 257.46 in Q4 2021. 

  • Q4 2021 GDP – $257.46 billion
  • Percent of the U.S. Q4 2021 GDP – 1.1%
  • GDP per capita in 2021 – $41,644

Alaska

Alaska has a modest GDP but a surprisingly high GDP per capita by state. Its $69,430 per capita GDP made Alaska the 6th state with the largest US GDP per capita in 2021. As for the state’s GDP in US dollars, it came in at $57.98 million in the last quarter of 2021, up from $51.35 million in Q4 2020. Alaska is also among the five states with the lowest contribution towards the US GDP, with 0.2%.

  • Q4 2021 GDP – $57.98 billion
  • Percent of the US Q4 2021 GDP – 0.2%
  • GDP per capita in 2021 – $69,430

Arizona

Arizona has the 13th lowest per capita GDP by state in the US. With a GDP of just under $430 billion in Q4 2021, the state represents 1.8% of the US GDP. Arizona’s GDP jumped from about $393 billion in Q1 2021.

  • Q4 2021 GDP – $429.81 billion
  • Percent of the US Q4 2021 GDP – 1.8%
  • GDP per capita in 2021 $47,779

Arkansas

Arkansas has the 3rd worst GDP per capita in the US. With a GDP of just over $150 billion, the state contributes about 0.6% of the total GDP of the country. Arkansas, however, saw its gross domestic product inch higher in the period between Q4 of 2020 and Q4 of 2021. It went from $134.53 billion to $150.48 billion.

  • Q4 2021 GDP – $150.48 billion
  • Percent of the US Q4 2021 GDP – 0.6%
  • GDP per capita in 2021 – $40,764

California

California had the largest GDP by state in 2021. The California percentage of the US GDP in Q4 of 2021 was an impressive 14.6%. For comparison, Texas had the second-highest percentage of 8.8%. California not only tops the list of states with the largest economies — besides having a high GDP, California is also among the states with the best job market, too. The state is also great for real estate investing and a generally great destination to settle in.

  • Q4 2021 GDP – $3.10 trillion
  • Percent of the US Q4 2021 GDP – 14.6%
  • GDP per capita in 2021 – $73,264

Colorado

Colorado’s US GDP by state stands at $440.9 billion. This jurisdiction represents only 1.8% of the US total GDP as of Q4 2021. These figures place Colorado among the top 20 states with the highest GDP and establish it as a developed economy. Colorado’s GDP increased between Q4 2020 and Q4 of 2021, from $391.12 billion to $440.9 billion.

  • Q4 2021 GDP – $440.90 billion
  • Percent of the US Q4 2021 GDP – 1.8%
  • GDP per capita in 2021 – $64,308

Connecticut

With its GDP of nearly $310 billion, Connecticut doesn’t have fantastic state rankings by GDP. It belongs, however, among the top 10 states when it comes to GDP per capita. Its state GDP per capita of $68,381 in 2021 earned Connecticut the 8th place. The state’s GDP meanwhile rose from $282.72 billion in Q4 2020 to $308.67 billion in 2021.

  • Q4 2021 GDP – $308.67 billion
  • Percent of the US Q4 2021 GDP – 1.3%
  • GDP per capita in 2021 – $68,381

D.C.

D.C. was at the top of the list of the US states ranked by GDP per capita in 2021 when its GDP per capita soared to $189,513. As for its GDP in US dollars, D.C. is among the 20 states with the lowest GDP by state. Still, D.C. saw its economy grow from $147.4 billion in Q4 of 2020 to $156.45 billion in Q4 of 2021.

  • Q4 2021 GDP – $156.45 billion
  • GDP percent of the US Q4 2021 – 0.7%
  • GDP per capita in 2021 – $189,513

Delaware

Being a small state, Delaware’s percentage of the US GDP is only 0.4%. Still, the state had a solid GDP per capita of $64,187 in 2021. Delaware meanwhile noted a GDP growth by state in the period between 2020 and 2021.

  • Q4 2021 GDP – $84.20 billion
  • Percent of the US Q4 2021 GDP – 0.4%
  • GDP per capita in 2021 – $64,187

Florida

When it comes to GDP of US states per capita, Florida is nearly at the bottom of the list with its $47,269 as of 2021. Florida’s GDP meanwhile totaled $1.16 trillion at the beginning of 2021, only to reach $1.28 trillion by the end of 2021. With such a GDP, Florida represents a significant 5.4% of the US GDP. This state, in fact, has the 4th largest gross domestic product by the state in the United States.

  • Q4 2021 GDP – $1.28 trillion
  • Percent of the US Q4 2021 GDP – 5.4%
  • GDP per capita in 2021 – $47,269

Georgia

Georgia is the eighth richest state in the USA by GDP. The state’s GDP of almost $714 billion is 3% of the total gross domestic product in the US as of Q4 2021. Georgia’s GDP per capita of $53,270, however, placed the state in the worse half in this category in 2021.

  • Q4 2021 GDP – $713.94 billion
  • Percent of the US Q4 2021 GDP – 3%
  • GDP per capita in 2021 – $53,270

Hawaii

Hawaii has the 11th lowest US GDP per state of $94.93 billion and represents only 0.4% of the country’s gross domestic product at the end of 2021. Hawaii didn’t rank much better with its GDP per capita in 2021 either — its $51,713 got the state the 29th place in the respective US states economy ranking.

  • Q4 2021 GDP – $94.93 billion
  • Percent of the US Q4 2021 GDP – 0.4%
  • GDP per capita in 2021 – $51,713

Idaho

When we analyzed the US economy by state, Idaho didn’t have impressive results. Its GDP per capita of $42,134 places it 5th among the economies with the smallest GDP per capita. Idaho is also the 12th state with the lowest US state GDP contribution of only 0.4%. Idaho’s year-on-year GDP by state, at least, has been on the rise. It improved from $87.69 billion in Q4 of 2020 to $98.45 billion in Q4 of 2021.

  • Q4 2021 GDP – $98.45 billion
  • Percent of the US Q4 2021 GDP – 0.4%
  • GDP per capita in 2021 – $42,134

Illinois

In our ranking of the US states by economy, Illinois got the 5th place with its 2021 Q4 GDP of $973.48 billion. Illinois’ economic output by state represents 4.1% of the overall US GDP. The state’s gross domestic product per capita meanwhile stood at $61,560 in 2021. Thus, further supporting the thesis that Illinois is one of the largest state economies in the US.

  • Q4 2021 GDP – $973.48 billion
  • Percent of the US Q4 2021 GDP – 4.1%
  • GDP per capita in 2021 – $61,560

Indiana

Indiana’s state ranking by GDP is among the top 20 as the state’s gross domestic product is $438 billion. Indiana contributes 1.8% towards the total American GDP, just like Minnesota, Tennessee, Colorado, and Arizona. Indiana’s GDP has been varying in the period between Q1 2020 and Q4 2021. In Q1 of 2020, it was $384 billion and jumped to $389 three quarters later. In Q4 of 2021, it rose to $438. 

  • Q4 2021 GDP – $438.01 billion
  • Percent of the US Q4 2021 GDP – 1.8%
  • GDP per capita in 2021 – $50,873

Iowa

With a GDP by state of $225.69 billion, Iowa is neither a leader nor an underperformer. Iowa is far from the state with the highest GDP, but that doesn’t negate the fact its economy has been improving. After the first quarter of 2020, the state’s GDP was $196 billion. By the end of Q1 of 2021, the economy had improved by over $13 billion, and its gross domestic product reached $210 billion, to grow even further by the end of the year. 

  • Q4 2021 GDP – $225.69 billion
  • Percent of the US Q4 2021 GDP – 0.9%
  • GDP per capita in 2021 – $56,295

Kansas

Kansas is equally unimpressive as Iowa when we consider the state rankings by GDP. The state noted an impressive improvement in its GDP between the first quarter of 2020 and the first quarter of 2021. During the period, Kansas saw its state GDP jump from $178 billion to $185 billion. At the end of the year, it had climbed further to stand at $198 billion.

  • Q4 2021 GDP – $198.29 billion
  • Percent of the US Q4 2021 GDP – 0.8%
  • GDP per capita in 2021 – $55,303

Kentucky

Kentucky holds the 28th place on our list, with all the state economies ranked. The state’s 2021 Q4 GDP was $244 billion, placing it in the company of Alabama and Utah. Kentucky had a much worse ranking for GDP per capita by state in 2021. The $43,868 per capita earned Kentucky the 7th worst place in the category.

  • Q4 2021 GDP – $244.48 billion
  • Percent of the US Q4 2021 GDP – 1%
  • GDP per capita in 2021 – $43,868

Louisiana

Louisiana’s GDP of $267 billion represents 1.1% of the total US gross domestic product. When the GDP of each state is considered, Louisiana falls just out of the top 25 states. The state’s GDP saw a bit of a slowdown due to the pandemic in 2020, having dropped from $247 billion in Q1 to $243 billion in Q4.

  • Q4 2021 GDP – $267.12 billion
  • Percent of the US Q4 2021 GDP – 1.1%
  • GDP per capita in 2021 – $47,827

Maine

Maine is the 8th destination with the worst GDP by US state. Its gross domestic product was only $79.17 billion in 2021. With such a low gross domestic product, Maine’s economy accounts for only 0.3% of the US GDP.

  • Q4 2021 GDP – $79.17 billion
  • Percent of the US Q4 2021 GDP – 0.3%
  • GDP per capita in 2021 – $46,343

Maryland

With the total size of the United States economy at $24 trillion, Maryland’s GDP of $451.98 billion accounts for 1.9% of the total. We’d like to highlight the impressive GDP growth by state Maryland achieved between 2020 and 2021. Maryland started 2020 with a gross domestic product of $422.76 billion. By the end of the first quarter of 2021, the state’s economy was worth an impressive $430.60 billion, finally reaching 451.98 in Q4.

  • Q4 2021 GDP – $451.98 billion
  • Percent of the US Q4 2021 GDP – 1.9%
  • GDP per capita in 2021 – $59,783

Massachusetts

Massachusetts held the third-highest GDP per capita of $76,324 in 2021 when all the US states are ranked by economy. Our analysis of the best GDP of states places Massachusetts in the 12th position in 2021. So, it’s easy to conclude that Massachusetts is a leading economy in the country. The state’s gross domestic product represents 2.8% of the entire US economy. Massachusetts, in fact, has many great things going on. Boston, for example, is one of the best places to flip houses in the US.

  • Q4 2021 GDP – $663.75 billion
  • Percent of the US Q4 2021 GDP – 2.8%
  • GDP per capita in 2021 – $76,324

Michigan

Michigan is another jurisdiction with an excellent GDP by state of $592 billion. Even though the state’s economy was hit hard after the pandemic, dropping from $532.28 billion in Q1 2020 to $467.16 billion in the second quarter, it’s been improving ever since.

  • Q4 2021 GDP – $528.23 billion
  • Percent of the US Q4 2021 GDP – 2.5%
  • GDP per capita in 2021 – $47,934

Minnesota

Minnesota’s $60,659 makes the state the 16th destination with the highest GDP per capita in 2021. Minnesota is also the 20th richest state in the USA by GDP, with a gross domestic product size of $429 billion. Just like many other state economies, Minnesota saw its GDP fall in 2020, having slipped from $383.70 billion in Q1 to $351.21 billion three quarters later.

  • Q4 2021 GDP – $429.39 billion
  • Percent of the US Q4 2021 GDP – 1.8%
  • GDP per capita in 2021 – $60,659

Mississippi

The Mississippi GDP per capita was a modest $35,374, placing the state right at the bottom in 2021. Mississippi noted an improved growth of its GDP by state by year. The state’s economy was worth $118.03 billion at the beginning of 2021, increasing to $129.97 billion in the last quarter of the year.

  • Q4 2021 GDP – $129.97 billion
  • Percent of the US Q4 2021 GDP – 0.5%
  • GDP per capita in 2021 – $35,374

Missouri

Missouri is yet another US state with a low gross domestic per capita of under $50,000. The state’s GDP in Q1 of 2020 was $335.4 billion, and it reached an impressive $347.6 billion in Q1 of 2021, to rise to 373.1 in Q4. Missouri’s GDP was 1.6% of the total size of the United States economy.

  • Q4 2021 GDP – $373.10 billion
  • Percent of the US Q4 2021 GDP – 1.6%
  • GDP per capita in 2021 – $47,937

Montana

With a GDP per capita by state of only $44,352, Montana was among the 10 worst states in this regard in 2021. The Big Sky State is also the fourth with the lowest gross domestic product of $61.98 billion. With that GDP, Montana’s economy accounts for only 0.3% of the GDP of the United States.

  • Q4 2021 GDP – $61.98 billion
  • Percent of the US Q4 2021 GDP – 0.3%
  • GDP per capita in 2021 – $44,352

Nebraska

Cornhusker State belongs to the top 15 states with highest GDP per capita. However, the state doesn’t stand out when it comes to overall GDP. Its gross domestic product increased from 140.22 billion in the last quarter of 2020 to $154.14 billion a year later.

  • Q4 2021 GDP – $154.14 billion
  • Percent of the US Q4 2021 GDP – 0.6%
  • GDP per capita in 2021 – $62,197

Nevada

Nevada’s state rankings by GDP aren’t the best either. The state’s share of the US economy is only 0.9% or $204.3 billion in Q4 2021. In Q4 2020, Nevada recorded an average gross domestic product per capita of $50,753.

  • Q4 2021 GDP – $204.30 billion
  • Percent of the US Q4 2021 GDP – 0.9%
  • GDP per capita in 2021 – $50,753

New Hampshire

New Hampshire had a GDP of $102.43 billion in Q4 2021 which makes it the 13th state that contributes the least towards the US economy. The gross domestic product of the state slightly decreased between Q1 and Q2 of 2020, slipping from $89 billion to $80 billion. Regarding the per capita GDP, New Hampshire’s $59,746 earned the state the 18th place.

  • Q4 2021 GDP – $102.43 billion
  • Percent of the US Q4 2021 GDP – 0.4%
  • GDP per capita in 2021 – $59,746

New Jersey

New Jersey has always been a huge part of the US economy. The state’s gross domestic product of $700 billion makes the Garden State the 9th economy with the highest US GDP per state. New Jersey’s growth from $646 billion in Q1 2020 to $700 billion in Q4 2021 is even more impressive when we consider a drop to $571 billion in Q2 2021. The state represents about 2.9% of the US gross domestic product.

  • Q4 2021 GDP – $634.90 billion
  • Percent of the US Q4 2021 GDP – 3%
  • GDP per capita in 2021 – $63,492

New Mexico

New Mexico is on the worse side of the list, regardless of whether we analyze the GDP in US dollars or per capita. The state’s gross domestic product in Q4 of 2021 was $114 billion or about 0.5% of the US GDP. Its GDP per capita was $44,249 in 2021, a bit better than that of Kentucky.

  • Q4 2021 GDP – $114.68 billion
  • Percent of the US Q4 2021 GDP – 0.5%
  • GDP per capita in 2021 – $44,249

New York

The size of the New York economy compared to the country’s is about 8%. Meaning, New York’s third-largest US GDP by state of 1.91 trillion plays a significant role in the nation’s economy. That’s not surprising as New York is a developed business center, not only in the US but globally. Everything is higher here, including house prices, living costs, and the GDP. New York, for instance, has the highest cigarette prices by state, which isn’t at all surprising. Even the state’s GDP per capita of $76,365 is the second-highest in the US.

  • Q4 2021 GDP – $1.91 trillion
  • Percent of the US Q4 2021 GDP – 8%
  • GDP per capita in 2021 – $76,365

North Carolina

North Carolina is among the 15 states with the highest GDP in the United States. Its economy is worth $684 billion or 2.9% of the country’s GDP. The state’s per capita GDP, however, isn’t the best, at only $51,362.

  • Q4 2021 GDP – $603.01 billion
  • Percent of the US Q4 2021 GDP – 2.8%
  • GDP per capita in 2021 – $51,362

North Dakota

With a gross domestic product of only $66 billion, North Dakota doesn’t have an impressive state ranking by GDP. The surprise comes when we shift focus to the state’s GDP per capita. Here, North Dakota holds the seventh-highest place with its $69,429 in 2021.

  • Q4 2021 GDP – $66.37 billion
  • Percent of the US Q4 2021 GDP – 0.3%
  • GDP per capita in 2021 – $69,429

Ohio

Ohio is another leading US economy with a GDP of $65 billion in 2021 Q4. This state’s economic output by state represents 3.2% of the American GDP. Ohio, however, has a modest gross domestic product per capita of $53,420.

  • Q4 2021 GDP – $694.13 billion
  • Percent of the US Q4 2021 GDP – 3.2%
  • GDP per capita in 2021 – $53,420

Oklahoma

Oklahoma is quite the average economy when one considers gross domestic product by state. Oklahoma’s GDP of $218 billion is 0.9% of the total US GDP. This American economy weakened over the course of the pandemic. In Q1 of 2020, Oklahoma’s GDP was $196.91 billion, only to drop to $174.5 billion a quarter later. 

  • Q4 2021 GDP – $218.56 billion
  • Percent of the US Q4 2021 GDP – 0.9%
  • GDP per capita in 2021 – $48,469

Oregon

With its GDP of $279 billion, Oregon landed right in the middle of our list of states with the largest economies. This state’s gross domestic product accounts for 1.2% of the US GDP. Oregon’s GDP jumped by almost $30 billion between 2020 and 2021, which is a good sign for the state’s economy. Despite having a positive GDP by state by year, in 2020, the Beaver State’s GDP slipped from $250.5 billion in Q1 to $228.5 billion in Q2. 

  • Q4 2021 GDP – $279.42 billion
  • Percent of the US Q4 2021 GDP – 1.2%
  • GDP per capita in 2021 – $53,691

Pennsylvania

Pennsylvania is another major US economy. The state’s GDP of almost $875 billion makes for 3.6% of the total US gross domestic product in Q4 2021. Pennsylvania noted some fluctuations during the pandemic, too, with its GDP starting at $802.03 billion in Q1 2020, dropping to $712.55 billion in Q1 2021, and then reaching $874.88 billion in Q4 2021.

  • Q4 2021 GDP – $874.88 billion
  • Percent of the US Q4 2021 GDP – 3.6%
  • GDP per capita in 2021 – $54,842

Rhode Island

When it comes to the state ranking by GDP, Rhode Island is in the bad company of Maine and North Dakota. Rhode Island’s gross domestic product is both low and hardly improving. In Q4 of 2020, it was $62 billion, rising to $68 billion in 2021.

  • Q4 2021 GDP – $68.82 billion
  • Percent of the US Q4 2021 GDP – 0.3%
  • GDP per capita in 2021 – $49,841

South Carolina

South Carolina has a considerable gross domestic product of $281.7 billion as of Q4 2021. Similarly to a lot of other states, South Carolina’s economy saw a fall in Q2 2020, dropping from $247.2 billion in Q4 2020 to $227.7. The state’s GDP per capita meanwhile was fairly low at $42,585 in 2021.

  • Q4 2021 GDP – $281.75 billion
  • Percent of the US Q4 2021 GDP – 1.2%
  • GDP per capita in 2021 – $42,585

South Dakota

Alongside Alaska, Montana, Wyoming, and Vermont, South Dakota has one of the worst state rankings by GDP. Still, this US economy has been growing slowly since Q1 2020. It started 2020 worth $55.7 billion and then reached $58.9 billion by the end of the first quarter of 2021, to improve further by the end of the year, despite the COVID-19 pandemic. 

  • Q4 2021 GDP – $62.80 billion
  • Percent of the US Q4 2021 GDP – 0.3%
  • GDP per capita in 2021 – $55,349

Tennessee

Tennessee is quite the opposite of South Dakota. The state has a significant gross domestic product of $439.05 billion and makes for 1.8% of the American economy. Its negative aspect, unlike South Dakota’s, is the state’s GDP per capita of only $50,530 in 2021.

  • Q4 2021 GDP – $439.05 billion
  • Percent of the US Q4 2021 GDP – 1.8%
  • GDP per capita in 2021 – $50,530

Texas

Texas has the second-largest gross domestic product by state in the US. This jurisdiction has always been a strong economy, and its economic output by state is an impressive $2.1 trillion. Texas represents 8.8% of the total GDP of the United States. In Q1 of 2020, the economy even hit the $1.8 trillion mark before dropping amid the pandemic. With the per-capita gross domestic product of the state being $61,469, the Texas GDP ranking in this category is a bit worse. In 2021, the Lone Star State ranked 14th, right between Illinois and New Jersey.

  • Q4 2021 GDP – $2.10 trillion
  • Percent of the US Q4 2021 GDP – 8.8%
  • GDP per capita in 2021 – $61,469

Utah

Utah is another growing American economy with a gross domestic product of $230 billion. Utah has been on the rise, as its GDP in Q4 2020 was $206 billion. Its per-capita GDP of $55,995 earned Utah the 21st position on the per capita GDP by state ranking in 2021.

While Utah isn’t among the states with the highest GDP, it’s still a great destination with strong growth potential. In fact, Utah tops the list of the best places to invest in real estate in the USA. The state has a stable house flipping market too.

  • Q4 2021 GDP – $230.34 billion
  • Percent of the US Q1 2021 GDP – 1%
  • GDP per capita in 2021 – $55,995

Vermont

With the Vermont GDP in Q4 of 2021 being only $37.64 billion, this state is the worst US economy. It represents 0.2% of the American GDP, and the Green Mountain State’s growth is insignificant. In Q4 of 2020, the state’s gross domestic product was $34.39 billion, rising little within the next 12 months. Besides having the worst GDP by state, Vermont’s GDP per capita of $47,318 in 2021 was among the 15 lowest.

  • Q4 2021 GDP – $37.64 billion
  • Percent of the US Q4 2021 GDP – 0.2%
  • GDP per capita in 2021 – $47,318

Virginia

Virginia’s gross domestic product of $614 billion was enough to earn the state the 13th place here. The state represents 2.6% of the US economy. Over 2021, this economy improved in terms of GDP growth by state, rising from $572.42 billion in Q1 2021 to $614.75 billion in Q4. 

  • Q4 2021 GDP – $614.75 billion
  • Percent of the US Q4 2021 GDP – 2.6%
  • GDP per capita in 2021 – $58,474

Washington

Washington is another one of the largest state economies in the US. The Evergreen State noted an impressive growth of its GDP from $620.07 billion in Q4 2020 to $696.74 billion in Q4 2021. Washington also had the 4th highest gross domestic product per capita of nearly $75,000 in 2021.

  • Q4 2021 GDP – $637.99 billion
  • Percent of the US Q4 2021 GDP – 3%
  • GDP per capita in 2021 – $74,319

West Virginia

West Virginia’s GDP by state by year saw a small improvement in economy between 2020 and 2021. In Q1 of 2020, the GDP of West Virginia was $78 billion, dropping briefly to $68 billion in Q2. By the end of Q4 of 2021, West Virginia’s economy was worth $91 billion. The state also had the 2nd worst per capita GDP of $40,014 in 2021.

  • Q4 2021 GDP – $91.95 billion
  • Percent of the US Q4 2021 GDP – 0.4%
  • GDP per capita in 2021 – $40,014

Wisconsin

Wisconsin holds the 21st position with its GDP of $379 billion in Q4 2021. This state’s economy contributes 1.6% of the total US GDP. Wisconsin’s per capita GDP of $51,980 made it an average state in this regard in 2021.

  • Q4 2021 GDP – $379.90 billion
  • Percent of the US Q4 2021 GDP – 1.6%
  • GDP per capita in 2021 – $51,980

Wyoming

Interestingly, Wyoming has the 2nd worst US GDP by state but also the 11th best GDP per capita. The state’s gross domestic product in US dollars was $44.32 billion at the end of 2021. Besides being low already, Wyoming’s GDP has seen little improvement. In Q1 of 2020, for instance, the economy was worth $38 billion.

  • Q4 2021 GDP – $44.32 billion
  • Percent of the US Q4 2021 GDP – 0.2%
  • GDP per capita in 2021 – $62,888

(BEA)

Final Words

The United States has been a leading global economy for years now. The country’s GDP, however, depends on the performance of each and every American state. Knowing the GDP by state, therefore, is essential for forecasting how the US economy will do in the months to come. Due to the coronavirus crisis, most American state economies have slowed down. Still, some results are better than early 2020, making experts hopeful that the US GDP will keep growing. As for what states contribute the most, we must mention California, Texas, New York, and Florida as the absolute leaders.

References: BEA, Statista, Trading Economics

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