Department of Numbers

Michigan GDP

Michigan GDP was $536,888,000,000 in 2019 according to BEA data. Michigan GDP represents 2.50% of US GDP which made it the 14th largest state economy in the nation in 2019.

Show dollars as: Nominal Real

Real GDP (2019 Dollars) in Michigan

2019
(Billions)
1 Year Change 3 Year Change 5 Year Change
Michigan $536.888 +1.09% +3.40% +10.49%

Trends in Michigan Real GDP

Over the 5 years ending in 2019 the Michigan economy grew in real terms by 10.49% at a compound annual growth rate of 2.02% per year. Real Michigan GDP, at $536.888 bn in 2019, is at the highest level recorded to date.

Real GDP (2019 Dollars): Michigan

Historical Real GDP (2019 Dollars) data for Michigan

Date Michigan
(Billions)
2019 $536.888
2018 $531.119
2017 $523.141
2016 $519.224
2015 $507.705
2014 $485.912
2013 $478.557
2012 $470.101
2011 $458.897
2010 $451.613
2009 $431.969

more history ...

Michigan GDP Components: Per-Capita GDP & Popuation

Michigan per-capita GDP was $53,759 in 2019. which is $11,481 lower than the US per-capita GDP.

Show dollars as: Nominal Real

Real GDP (2019 Dollars) in Michigan

2019 1 Year Change 3 Year Change 5 Year Change
US Per-Capita GDP $65,240 +1.67% +5.93% +9.49%
Michigan Per-Capita GDP $53,759 +1.06% +3.03% +9.86%
Michigan Population 9,986,857 +0.03% +0.36% +0.57%

Trends Real in Michigan Real Per-Capita GDP & Population

Real Michigan per-capita GDP is 9.86% higher today than 5 years prior in 2014. In that time the population in Michigan grew by 57,009 (0.57%) people. The per-capita GDP growth plus the population growth are approximatly equal to the GDP growth Michigan shown above.

Real Per-Capita GDP (2019 Dollars): Michigan, National

Historical Real Per-Capita GDP (2019 Dollars) and Population data for Michigan

Date US Per-Capita GDP Michigan Per-Capita GDP Michigan Population
2019 $65,240 $53,759 9,986,857
2018 $64,168 $53,197 9,984,072
2017 $62,633 $52,455 9,973,114
2016 $61,590 $52,180 9,950,571
2015 $60,982 $51,120 9,931,715
2014 $59,587 $48,934 9,929,848
2013 $58,537 $48,275 9,913,065
2012 $57,870 $47,499 9,897,145
2011 $56,997 $46,436 9,882,412
2010 $56,531 $45,721 9,877,510
2009 $55,573 $43,626 9,901,591

more history ...