Census and Economic Information Center

Gross Domestic Product (GDP) By State New6/23/09

The gross domestic product (GDP) by state is the market value of all final goods and services made within the borders of a state a year.  GDP can be defined in three ways, all of which are conceptually identical. First, it is equal to the total expenditures for all final goods and services produced within the state in a stipulated period of time (usually a 365-day year). Second, it is equal to the sum of the value added at every stage of production (the intermediate stages) by all the industries within the state, plus taxes less subsidies on products, in the period. Third, it is equal to the sum of the income generated by production in the state in the period—that is, compensation of employees, taxes on production and imports less subsidies, and gross operating surplus (or profits).

The next scheduled GDP by state release is June 2010.