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.
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 |
2008 |
$459.598 |
2007 |
$490.056 |
2006 |
$493.212 |
2005 |
$506.151 |
2004 |
$505.104 |
2003 |
$507.177 |
2002 |
$501.836 |
2001 |
$490.542 |
2000 |
$505.610 |
1999 |
$496.622 |
1998 |
$466.262 |
1997 |
$451.945 |
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Nominal GDP in Michigan
|
2019 (Billions) |
1 Year Change |
3 Year Change |
5 Year Change |
Michigan |
$536.888 |
+2.89% |
+9.80% |
+19.69% |
Trends in Michigan Nominal GDP
Over the 5 years ending in 2019 the Michigan economy grew in nominal terms by 19.69% at a compound annual growth rate of 3.66% per year.
Nominal Michigan GDP, at $536.888 bn in 2019, is at the highest level recorded to date.
Nominal GDP: Michigan
Historical Nominal GDP data for Michigan
Date |
Michigan |
2019 |
$536.888 |
2018 |
$521.803 |
2017 |
$501.915 |
2016 |
$488.963 |
2015 |
$473.149 |
2014 |
$448.572 |
2013 |
$433.756 |
2012 |
$418.742 |
2011 |
$401.069 |
2010 |
$386.630 |
2009 |
$365.553 |
2008 |
$385.990 |
2007 |
$403.717 |
2006 |
$395.685 |
2005 |
$394.141 |
2004 |
$381.443 |
2003 |
$372.966 |
2002 |
$362.311 |
2001 |
$348.643 |
2000 |
$351.641 |
1999 |
$337.834 |
1998 |
$312.668 |
1997 |
$299.693 |
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Michigan per-capita GDP was $53,759 in 2019.
which is $11,481 lower than the US per-capita GDP.
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 |
2008 |
$57,524 |
$46,205 |
9,946,889 |
2007 |
$58,146 |
$48,999 |
10,001,284 |
2006 |
$57,626 |
$49,144 |
10,036,081 |
2005 |
$56,560 |
$50,358 |
10,051,137 |
2004 |
$55,150 |
$50,233 |
10,055,315 |
2003 |
$53,613 |
$50,510 |
10,041,152 |
2002 |
$52,605 |
$50,105 |
10,015,710 |
2001 |
$52,200 |
$49,098 |
9,991,120 |
2000 |
$52,201 |
$50,803 |
9,952,450 |
1999 |
$50,683 |
$50,348 |
9,863,775 |
1998 |
$48,939 |
$47,480 |
9,820,231 |
1997 |
$47,389 |
$46,185 |
9,785,450 |
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Nominal GDP in Michigan
|
2019 |
1 Year Change |
3 Year Change |
5 Year Change |
US Per-Capita GDP |
$65,240 |
+3.49% |
+12.48% |
+19.01% |
Michigan Per-Capita GDP |
$53,759 |
+2.86% |
+9.40% |
+19.01% |
Michigan Population |
9,986,857 |
+0.03% |
+0.36% |
+0.57% |
Trends in Nominal Michigan Real Per-Capita GDP & Population
Nominal Michigan per-capita GDP is 19.01% 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.
Nominal Per-Capita GDP: Michigan, National
Historical Nominal Per-Capita GDP 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 |
$63,043 |
$52,264 |
9,984,072 |
2017 |
$60,092 |
$50,327 |
9,973,114 |
2016 |
$58,001 |
$49,139 |
9,950,571 |
2015 |
$56,832 |
$47,640 |
9,931,715 |
2014 |
$55,008 |
$45,174 |
9,929,848 |
2013 |
$53,057 |
$43,756 |
9,913,065 |
2012 |
$51,548 |
$42,309 |
9,897,145 |
2011 |
$49,814 |
$40,584 |
9,882,412 |
2010 |
$48,397 |
$39,142 |
9,877,510 |
2009 |
$47,028 |
$36,919 |
9,901,591 |
2008 |
$48,311 |
$38,805 |
9,946,889 |
2007 |
$47,902 |
$40,367 |
10,001,284 |
2006 |
$46,231 |
$39,426 |
10,036,081 |
2005 |
$44,044 |
$39,214 |
10,051,137 |
2004 |
$41,648 |
$37,935 |
10,055,315 |
2003 |
$39,426 |
$37,144 |
10,041,152 |
2002 |
$37,980 |
$36,174 |
10,015,710 |
2001 |
$37,100 |
$34,895 |
9,991,120 |
2000 |
$36,305 |
$35,332 |
9,952,450 |
1999 |
$34,478 |
$34,250 |
9,863,775 |
1998 |
$32,818 |
$31,839 |
9,820,231 |
1997 |
$31,424 |
$30,626 |
9,785,450 |
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