Preliminary federal report: Michigan ends 2021 with $592 billion GDP. Michigan ended the fourth quarter of 2021 with a seasonally adjusted gross domestic product of around $592 billion.
What is the GDP of the state of Michigan?
473.33 billion U.S. dollars
In 2021, the real Gross Domestic Product (GDP) of Michigan was 473.33 billion U.S. dollars. This is a significant decrease from the previous year, when the state’s GDP stood at 445.68 billion U.S. dollars.
What state has the largest GDP?
California
The gross domestic product (GDP) of California was about 3.36 trillion U.S. dollars in 2021, meaning that it contributed the most out of any state to the country’s GDP in that year.
What is Michigan’s GDP per-capita?
47,448 US dollars
In 2019, GDP per capita for Michigan was 47,448 US dollars. GDP per capita of Michigan increased from 40,591 US dollars in 2010 to 47,448 US dollars in 2019 growing at an average annual rate of 1.75%.
What are the 10 largest states by GDP?
Here are the 10 states with the highest GDP:
- California (3,120,386 million)
- Texas (1,772,132 million)
- New York (1,705,127 million)
- Florida (1,111,614 million)
- Illinois (875,671 million)
- Pennsylvania (788,500 million)
- Ohio (683,460 million)
- Washington (632,013 million)
What’s the GDP of Ohio?
In 2019, Ohio’s gross domestic product (GDP), the broadest measure of economic production, totaled $698.5 billion, a 3.3% increase from 2018 total GDP of $675.9 billion. Ohio’s 2019 GDP was the 7th largest in the U.S., ranked between Pennsylvania (6th) and New Jersey (8th).
Which state makes the most money for the US?
California
1. California
California, the nation’s most populous state, has the largest state GDP of $3,120,386,000. California’s median household income is $80,440, the sixth-highest in the U.S.
What U.S. state has the fastest growing economy?
Here are the states with the fastest-growing economies.
- Tennessee. Updated Jun 4, 2022.
- Utah. Updated Jun 4, 2022.
- Indiana. Updated Jun 4, 2022.
- South Carolina. Updated Jun 4, 2022.
- Arkansas. Updated Jun 4, 2022.
- New Hampshire. Updated Jun 4, 2022.
- Kentucky. Updated Jun 4, 2022.
- Maine. Updated Jun 4, 2022.
Who has the strongest economy?
the USA
With a GDP of 23.0 trillion USD, the USA is by far the world’s largest economy in this ranking for 2021. It is followed by China in 2nd place with a GDP of still 17,734.1 tn USD. Canada is also quite far ahead in the international comparison and could occupy the 9th place in this ranking.
Which state has the best economy 2022?
North Carolina
The new top state for business in 2022 is North Carolina, according to a new CNBC study, thanks to putting partisanship aside to build the nation’s strongest economy.
What is GDP of New York?
$1.5 Trillion
NYS GDP Reached Nearly $1.5 Trillion
In 2019: New York State’s real GDP was nearly $1.5 trillion, 7.7 percent of the U.S. total.
What is the GDP of California?
a $3.4 trillion
The economy of the State of California is the largest in the United States, with a $3.4 trillion gross state product (GSP) as of 2021. It is the largest sub-national economy in the world. If California were a sovereign nation (2022), it would rank as the world’s fifth largest economy, behind Germany and ahead of India.
What is the GDP of Florida?
about $1.2 trillion
As of 2021, the gross state product (GSP) is about $1.2 trillion, the fourth largest economy in the United States. Florida is responsible for 5.23% of the United States’ approximately $21 trillion gross domestic product (GDP).
Which country has lowest GDP?
In 2021, Burundi reported the lowest per-capita GDP ever, closely-followed by South Sudan and Somalia.
The 20 countries with the lowest gross domestic product (GDP) per capita in 2021 (in U.S. dollars)
| Characteristic | GDP per capita in U.S. dollars |
|---|---|
| Burundi | 272.14 |
| South Sudan | 364.39 |
| Somalia | 486.53 |
| Mozambique | 500.7 |
Which state has the best economy per capita?
Out of all 50 states, Massachusetts had the highest per-capita real gross domestic product (GDP) in 2019, at 75,258 U.S. dollars. Mississippi had the lowest per-capita real GDP, at 35,015 U.S. dollars.
Why America has the highest GDP?
The nation’s economy is fueled by abundant natural resources, a well-developed infrastructure, and high productivity. It has the second-highest total-estimated value of natural resources, valued at US$ 44.98 trillion in 2019, although sources differ on their estimates.
What is Kansas GDP?
Overview of the Kansas Economy
Kansas’s gross state product (GSP) in 2019 reached $155.9bn, with growth of 1.7% over the 5-years to 2019.
What is the GDP of New Jersey?
New Jersey – Gross domestic product in current prices
In 4th quarter 2021, GDP for New Jersey was 700,119.5 million US dollars. GDP of New Jersey increased from 516,884.6 million US dollars in 1st quarter 2012 to 700,119.5 million US dollars in 4th quarter 2021 growing at an average annual rate of 0.82%.
What is Maryland’s GDP?
$438.2 billion
Workforce. In 2021, Maryland’s Gross Domestic Product (GDP) was $438.2 billion, up from $410.7 billion in 2020.
What is considered middle class?
So who is in the middle class? Broadly, Pew Research Center defines middle-class households as making two-thirds to double America’s median income. That adds up to an income range of about $30,000 to $90,000 for single Americans in 2020 dollars.
What state can you save the most money?
Key findings. Vermont ranks as the best state for saving money. Though it doesn’t offer the most affordable housing, strong wage growth, one of the best year-over-year job growth rates and one of the lowest unemployment rates in the country suggest consistent opportunities to earn decent money — and build savings.