Department of Numbers

Michigan GDP

Michigan GDP was $430,608,000,000 in 2016 according to BEA data. Michigan GDP represents 2.63% of US GDP which made it the 13th largest state economy in the nation in 2016. Real dollar values expressed in 2009 chained dollars.

Show dollars as: Nominal Real

Real GDP (2009 Chained Dollars) in Michigan

2016
(Billions)
1 Year Change 3 Year Change 5 Year Change
Michigan $430.608 +1.85% +6.12% +9.67%

Trends in Michigan Real GDP

Over the 5 years ending in 2016 the Michigan economy grew in real terms by 9.67% at a compound annual growth rate of 1.86% per year. Michigan GDP was at its highest in 2005 when it reached $431.383 bn. It is now $0.775 bn (0.18%) lower. From a low point of $363.146 bn in 2009, Michigan GDP has grown by $67.462 bn (18.58%).

Real GDP (2009 Chained Dollars): Michigan

Historical Real GDP (2009 Chained Dollars) data for Michigan

Date Michigan
(Billions)
2016 $430.608
2015 $422.800
2014 $411.639
2013 $405.793
2012 $400.063
2011 $392.653
2010 $382.885
2009 $363.146
2008 $396.515
2007 $419.302
2006 $423.582

more history ...

Michigan GDP Components: Per-Capita GDP & Popuation

Michigan per-capita GDP was $43,372 in 2016. which is $7,205 lower than the US per-capita GDP. Real dollar values expressed in 2009 chained dollars.

Show dollars as: Nominal Real

Real GDP (2009 Chained Dollars) in Michigan

2016 1 Year Change 3 Year Change 5 Year Change
US Per-Capita GDP $50,577 +0.84% +4.20% +6.27%
Michigan Per-Capita GDP $43,372 +1.74% +5.80% +9.09%
Michigan Population 9,928,300 +0.11% +0.30% +0.53%

Trends Real in Michigan Real Per-Capita GDP & Population

Real Michigan per-capita GDP is 9.09% higher today than 5 years prior in 2011. In that time the population in Michigan grew by 52,087 (0.53%) people. The per-capita GDP growth plus the population growth are approximatly equal to the GDP growth Michigan shown above.

Real Per-Capita GDP (2009 Chained Dollars): Michigan, National

Historical Real Per-Capita GDP (2009 Chained Dollars) and Population data for Michigan

Date US Per-Capita GDP Michigan Per-Capita GDP Michigan Population
2016 $50,577 $43,372 9,928,300
2015 $50,155 $42,631 9,917,715
2014 $49,253 $41,514 9,915,767
2013 $48,538 $40,993 9,898,982
2012 $48,173 $40,463 9,887,238
2011 $47,595 $39,757 9,876,213
2010 $47,287 $38,763 9,877,495
2009 $46,680 $36,676 9,901,591
2008 $48,401 $39,863 9,946,889
2007 $49,126 $41,925 10,001,284
2006 $48,880 $42,206 10,036,081

more history ...