In the Southeast Economic Region, private goods producing industries contributed 24.4% to the region’s gross domestic product (GDP) in 1997, but this had fallen to 19% by 2015, a 22.1% fall in its share.
Nationally the GDP for private goods producing industries fell from 22.6% to 19% in the same period, a decline of 15.9%. This means that goods-producing industries have declined at a faster rate in the Southeast region, and its share of the regional economy is now the same as the national average.
The Index in the table below confirms that the goods producing industries grew by 62% in dollar terms (Index 162 – 1997 100) in the Southeast region, which is below the national average of 75%.
TABLE: Gross Domestic Product Ratio For Private Goods Production By State 1997 & 2015
The table below displays 4 columns of data for the gross domestic product of the private goods-producing industries.
- 2015: The percentage of the State’s GDP in 2015 from goods-producing industries;
- 1997: The percentage of the State’s GDP in 1997 from goods-producing industries;
- +/- 97/15: The points difference between columns 1 and 2;
- % Change: The percentage difference between columns 1 and 2;
- Index 97 -100: In $ terms, if the GDP of goods-producing industries was equal to 100 in 1997, what is it today? Using this index the relative performance by state since 1997 can be compared and understood. (e.g. If the reading is 150, it means the GDP in $ terms has increased by 50%. If another state has a reading of 200, it means it is performing twice as well as the state with a reading of 150.)
| State | Region | 2015 | 1997 | +/- 1997-2015 | % Change | Index 97 =100 |
|---|---|---|---|---|---|---|
| Alabama | Southeast | 24.0% | 26.3% | -2.4% | -9.0% | 174 |
| Alaska | Far West | 28.0% | 31.8% | -3.8% | -12.1% | 182 |
| Arizona | Southwest | 14.6% | 23.8% | -9.2% | -38.5% | 135 |
| Arkansas | Southeast | 23.8% | 31.7% | -8.0% | -25.1% | 147 |
| California | Far West | 16.7% | 20.2% | -3.5% | -17.2% | 190 |
| Colorado | Rocky Mountain | 17.8% | 18.6% | -0.8% | -4.5% | 221 |
| Connecticut | New England | 13.9% | 18.7% | -4.8% | -25.6% | 134 |
| Delaware | Mideast | 11.3% | 16.8% | -5.5% | -32.5% | 138 |
| District of Columbia | Mideast | 1.5% | 1.5% | 0.0% | 3.3% | 245 |
| Florida | Southeast | 10.5% | 13.8% | -3.4% | -24.2% | 167 |
| Georgia | Southeast | 15.8% | 22.1% | -6.3% | -28.5% | 147 |
| Hawaii | Far West | 8.6% | 7.5% | 1.1% | 15.0% | 246 |
| Idaho | Rocky Mountain | 23.8% | 26.8% | -3.0% | -11.2% | 197 |
| Illinois | Great Lakes | 17.5% | 21.9% | -4.4% | -20.1% | 147 |
| Indiana | Great Lakes | 35.6% | 35.9% | -0.3% | -0.9% | 193 |
| Iowa | Plains | 29.0% | 32.6% | -3.6% | -11.1% | 185 |
| Kansas | Plains | 22.5% | 25.6% | -3.1% | -12.0% | 175 |
| Kentucky | Southeast | 26.8% | 35.2% | -8.3% | -23.7% | 141 |
| Louisiana | Southeast | 33.2% | 31.3% | 1.9% | 6.2% | 215 |
| Maine | New England | 15.2% | 20.8% | -5.6% | -26.8% | 137 |
| Maryland | Mideast | 10.3% | 14.1% | -3.8% | -26.7% | 166 |
| Massachusetts | New England | 13.8% | 18.8% | -5.1% | -26.9% | 149 |
| Michigan | Great Lakes | 24.7% | 29.2% | -4.5% | -15.5% | 131 |
| Minnesota | Plains | 21.4% | 22.9% | -1.5% | -6.6% | 195 |
| Mississippi | Southeast | 23.4% | 28.6% | -5.1% | -18.0% | 149 |
| Missouri | Plains | 18.3% | 23.5% | -5.2% | -22.2% | 140 |
| Montana | Rocky Mountain | 21.3% | 20.6% | 0.7% | 3.4% | 244 |
| Nebraska | Plains | 23.3% | 24.5% | -1.2% | -5.0% | 213 |
| Nevada | Far West | 11.6% | 17.0% | -5.4% | -31.6% | 159 |
| New Hampshire | New England | 14.4% | 26.6% | -12.2% | -45.9% | 104 |
| New Jersey | Mideast | 12.1% | 18.3% | -6.2% | -34.0% | 122 |
| New Mexico | Southwest | 19.5% | 31.4% | -11.9% | -37.9% | 110 |
| New York | Mideast | 8.5% | 11.0% | -2.5% | -22.4% | 156 |
| North Carolina | Southeast | 24.6% | 33.9% | -9.3% | -27.6% | 154 |
| North Dakota | Plains | 33.2% | 21.2% | 12.0% | 56.7% | 555 |
| Ohio | Great Lakes | 23.4% | 29.6% | -6.2% | -20.9% | 141 |
| Oklahoma | Southwest | 28.3% | 25.8% | 2.4% | 9.4% | 255 |
| Oregon | Far West | 28.5% | 27.8% | 0.8% | 2.8% | 222 |
| Pennsylvania | Mideast | 19.2% | 24.4% | -5.2% | -21.4% | 157 |
| Rhode Island | New England | 12.2% | 18.9% | -6.7% | -35.3% | 125 |
| South Carolina | Southeast | 22.1% | 29.1% | -7.0% | -24.1% | 155 |
| South Dakota | Plains | 21.5% | 26.2% | -4.7% | -18.0% | 202 |
| Tennessee | Southeast | 20.9% | 26.8% | -5.9% | -21.9% | 159 |
| Texas | Southwest | 29.7% | 28.1% | 1.6% | 5.6% | 280 |
| Utah | Rocky Mountain | 20.2% | 22.9% | -2.6% | -11.5% | 229 |
| Vermont | New England | 14.7% | 22.4% | -7.7% | -34.3% | 127 |
| Virginia | Southeast | 13.8% | 18.4% | -4.6% | -25.1% | 165 |
| Washington | Far West | 18.8% | 22.0% | -3.2% | -14.7% | 196 |
| West Virginia | Southeast | 29.4% | 28.6% | 0.7% | 2.6% | 197 |
| Wisconsin | Great Lakes | 25.0% | 31.0% | -5.9% | -19.1% | 157 |
| Wyoming | Rocky Mountain | 35.4% | 34.1% | 1.3% | 3.7% | 281 |
| New England | New England | 13.9% | 19.6% | -5.7% | -29.1% | 138 |
| Mideast | Mideast | 11.5% | 15.5% | -4.0% | -25.8% | 150 |
| Far West | Far West | 17.5% | 20.7% | -3.2% | -15.5% | 193 |
| Southeast | Southeast | 19.0% | 24.4% | -5.4% | -22.1% | 162 |
| Great Lakes | Great Lakes | 23.6% | 28.1% | -4.5% | -16.0% | 150 |
| Rocky Mountain | Rocky Mountain | 20.4% | 21.5% | -1.1% | -5.1% | 226 |
| USA | USA | 19.0% | 22.6% | -3.6% | -15.9% | 176 |
| Plains | Plains | 22.6% | 25.1% | -2.5% | -10.0% | 186 |
| Southwest | Southwest | 27.2% | 27.5% | -0.3% | -1.1% | 247 |
Alabama’s good-producing economy falls to 24% of State GDP
Alabama’s goods-producing industries contribution to its GDP has fallen to 24% from 26.3%, a decline of 9%, which is the 3rd best performance in the Southeast region. Only West Virginia and Louisiana were better.
However its index of 174 is almost the same as the national average, so this implies that Alabama’s services-providing industries are underperforming compared to other states, rather than a stellar performance on the goods-producing side.
At $206bn, Alabama’s economy is the 27st largest in the US.
Arkansas’s good-producing economy falls to 23.8% of State GDP
Arkansas’s goods-producing industries contribution to its GDP has fallen to 23.8% from 31.7%, a decline of 25.1%, which is the 15th worst performance in the country.
However its index of 147 is below the national average and only Kentucky had a poorer performance in the region. The economy is valued at $123bn (Q3 2016) 35th largest.
Florida’s good-producing economy falls to 10.5% of State GDP
Florida’s goods-producing industries contribution to its GDP has fallen to 10.5% from 13.8%, a decline of 24.2%, which is the 17th worst performance in the country.
However its index of 167 is just below the national average. The economy is valued at $934bn (Q3 2016) making it the 4th largest in the country. As it accounts for 24% of the Southeast region economy, Florida’s performance will have a significant impact on the region’s statistics.
Georgia’s good-producing economy falls to 15.8% of State GDP
Georgia’s goods-producing industries contribution to its GDP has fallen to 15.8% from 22.1%, a decline of 28.1%, which is the worst in the region and 9th worst performance in the country.
Its Index of 147 is the same as Arkansas and only Kentucky’s is worse in the region. The economy is valued at $528bn (Q3 2016) making it the 9th largest in the country. As it accounts for 13% of the Southeast region economy, Georgia’s performance will have a material impact on the region’s statistics.
Kentucky’s good-producing economy falls to 26.8% of State GDP
Kentucky’s goods-producing industries contribution to its GDP has fallen to 26.8% from 35.2%, a decline of 23.7%, which is the worst in the region and 7th worst performance in Southeast.
Kentucky’s economy is very reliant on its good-producing industries compared to other states. Back in 1997 35.2% of Kentucky’s GDP came from good-producing industries, the second highest in the country behind Indiana at 35.9%. By 2015, whilst Indiana’s goods-producing industries still make up 35.6% of its economy, Kentucky’s has fallen to 26.8%, now 9th place in the country.
However its Index of 141 is the lowest in the region and 12th lowest in the country. which would suggest same as Arkansas and only Kentucky’s is worse in the region. The economy is valued at $197bn (Q3 2016) making it the 28th largest in the country.
For a comparison with Indiana and other states with large goods-producing economies, you can click here.
Louisiana’s good-producing economy rises to 33.2% of State GDP
Louisiana is one of only 9 states where the proportion of the state’s GDP Â coming from the goods-producing industries has increased since 1997. Louisiana’s goods-producing industries contribution to its GDP has increased to 33.2% from 31.3%, a rise of 6.2%. Only North Dakota and Oklahoma recorded bigger increases in this ratio.
Its Index of 215 is above the national average of 176, and is the highest in the region and 11th highest nationwide. The economy is valued at $239bn (Q3 2016) making it the 24th largest in the country. It accounts for 6% of the Southeast region economy.
Mississippi’s good-producing economy falls to 23.4% of State GDP
Mississippi’s goods-producing industries contribution to its GDP has fallen to 23.4% from 28.6%, a decline of 18.1%, the 3rd best performance in the region behind West Virginia and Alabama.
However its Index of 149 is the 4th worst so this would suggest it’s private services-providing industries have struggled more than most. Government contribution to GDP actually increased to 17.4% from 15.7%.
The economy is valued at $110bn (Q3 2016) making it the 37th largest in the country.
North Carolina’s good-producing economy falls to 24.6% of State GDP
North Carolina’s goods-producing industries contribution to its GDP has fallen to 24.6% from 33.9%, a decline of 27.6%, the 2nd worst performance in the region behind Georgia.
However its Index of 154 is below the national average of 176 but the relative weakness in the private goods-producing industries is due to the significant improvement in the services-providing industires contribution to North Carolina’s GPD.
The economy is valued at $519bn (Q3 2016) making it the 10th largest in the country, just $10bn behind Georgia.
South Carolina’s good-producing economy falls to 22.1% of State GDP
South Carolina’s goods-producing industries contribution to its GDP has fallen to 22.1% from 29.1%, a decline of 24.1%. Of the eleven states in the Southeast region, the relative importance of private goods-producing industries to GDP in South Carolina is reducing in significance compared to other states. South Carolina had the 5th largest share in the region in 1997 at 33.9% but this has now fallen to 8th, as West Virginia, Alabama and Mississippi had larger ratios in 2015 compared to 1997.
Its Index of 155 is below the national average of 176. The economy is valued at $211bn (Q3 2016) making it the 26th largest in the country, just $5bn more than Alabama.
Tennessee’s good-producing economy falls to 20.9% of State GDP
Tennessee’s goods-producing industries contribution to its GDP has fallen to 20.9% from 26.8%, a decline of 21.9%. It remains just above the regional average of 19%
Its Index of 159 is below the national average of 176. The economy is valued at $330bn (Q3 2016) making it the 18th largest in the country, just $5bn more than Colorado and identical in size to Minnesota.
Virginia’s good-producing economy falls to 13.8% of State GDP
Virginia’s goods-producing industries contribution to its GDP has fallen to 13.8% from 18.4%, a decline of 25.1%. In the region only Florida’s goods-producing share of GDP is smaller at 10.5%.
Its Index of 165 is below the national average of 176, and given its location, it’s not surprising that government makes up 18.6% of GDP.
The economy is valued at $496bn (Q3 2016) making it the 12th largest in the country, just ahead of Michigan and behind Massachusetts.
West Virginia’s good-producing economy rises to 29.4% of State GDP
West Virginia is one of only 9 states nationwide where the proportion of the state’s GDP Â coming from the goods-producing industries has increased since 1997. West Virginia’s goods-producing industries contribution to its GDP has risen to 29.4% from 28.6%, a rise of 2.6%, only the second state (after Louisiana) in the Southeast region to show an increase compared to 1997.
Its Index of 197 is, like Louisiana, above the national average of 176, the only two of the eleven states in the region to be above the average.
The economy is valued at $73bn (Q3 2016) making it the 11th smallest in the country, just ahead of Delaware and behind New Hampshire.
