Metropolitan Area Economic Output, 2017

By on 2.21.19 in Economic Data

The United States economy is primarily driven by the economic activity within its metropolitan areas. From 2012 to 2017, 90% of the nation’s annual GDP was contributed by the nation’s 383 metros. This is to be expected, as 86% of the US population lives in a metropolitan statistical area. North Carolina follows a similar trend. In 2017, the state’s overall GDP was approximately $540 billion, and the combined metros totaled $476 billion, or 88%, of…

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Metropolitan Area Economic Output, 2013

“More and more, the U.S. economy is defined by its metropolitan areas,” writes Richard Florida at The Atlantic’s CityLab blog. Just over 90% of the nation’s economic activity occurs in metro regions. In North Carolina, the state’s 15 major metropolitan regions also comprised the majority of economic activity, but at a level less than the national share. In 2013, the state’s combined metro GDP was $407 billion out of a total GDP of $471 billion.…

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If US states were countries, NC would be the world’s 35th largest economy

Gross domestic product or GDP captures the market value of all goods or services produced within a country (or other defined region) in a given year. Put another way, GDP = Personal Consumption + Business Investment + Government Spending + (Exports – Imports) In 2013, the United States had a GDP of nearly $17 trillion – the largest GDP for a single country in the world. To put this in perspective, the U.S. GDP is…

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