America’s Economic Output
The U.S. Department of Commerce and its Bureau of Economic Analysis (BEA) recently released its statistics on gross domestic product (GDP) by metropolitan area for 2014. The BEA determines the statistics for each metropolitan area as the sum of the GDP originating in all industries in the area. The data is the sub-state counterpart of the nationwide GDP. It is the most comprehensive measure of economic activity.
The folks at howmuch.net took that data and turned it into a map that demonstrates just where the growth in the U.S. is coming from. As shown by the map, New York region, which includes Newark and Jersey City., with a whopping contribution of $1.56 trillion in GDP and growth of 2.4% in 2014. That region provided nearly 10% of the total GDP for the whole of the U.S. the New York metropolitan area, which includes Newark and Jersey City, lead the country with $1.5 trillion in GDP. The area had GDP growth of 2.4% in 2014. The New York metropolitan area provided almost 10% of the total GDP for the entire country.
The Greater Los Angeles area was second with $866 billion in GDP, with an increase of 2.3% over 2013. This was followed by the Chicago metropolitan area with $610 billion and growth of 1.8%. In fourth was the Houston metro area with $525 billion. Dallas, another Texas metro area, had $504 billion in GDP.
HowMuch.net also broke down the overall GDP by state for the United States as follows:
California: $2.11 trillion, 13% of overall GDP
Texas: $1.46 trillion, 9.5% of overall GDP
New York: $1.28 trillion, 8.4% of overall GDP
Florida: $769 billion, 4.8% of overall GDP.
Illinois: $680 billion, 4.3% of overall GDP.
The results show how much cities and populous areas really contribute to a country’s output, with an impressive 52% of total GDP created in America’s 20 top metropolitan areas.