Wyoming’s 2010 Gross Domestic Product Ranks 50th in the U.S.

According to a recent release Wyoming ranks last in the nation for 2010's Gross Domestic Product rankings. Wyoming’s real gross domestic product (GDP) in 2010 declined by 0.3 percent and earned the state a national ranking of 50^th based. Those rankings are based on estimates released by the U.S. Bureau of Economic Analysis (BEA) on June 7, 2011. 

Overall, Real GDP grew in 48 states in 2010 with Nevada joining Wyoming as the only states to incur declines.  North Dakota had the highest real GDP growth for the year at 7.1 percent while the U.S. average was 2.6 percent.  Real GDP for the Rocky Mountain region, which includes Wyoming along with Colorado, Idaho, Montana, and Utah, grew at a slower pace of 1.4 percent.  Idaho improved the most in the region with growth of 2.0 percent and ranked 30^th in the nation, followed by Utah, Colorado, Montana, and Wyoming.  Real GDP is the value of a state’s production of goods and services in a given period of time that has been adjusted for inflation.

Jim Robinson, senior economist for the state’s Economic Analysis Division said, “Notable declines in real GDP contributions from the nondurable-goods manufacturing and mining industries drove overall real GDP down in 2010 for Wyoming.”  Of the 21 industries that the BEA follows, real GDP associated with government and retail trade provided the largest boost but not enough to offset declines from other industries in the state.  “Overall, there wasn’t much of change for the state in real GDP growth.  Wyoming was able to hang on to the gains that were made in 2009 while other states were finally starting to recover from the recession,” commented Robinson.  Per capita real GDP for the state reached $61,049 in 2010, trailing only Alaska and Delaware added Robinson.

For more information visit The Wyoming Department of Administration and Information Economic Analysis Division.