Markets
Map: Economic Might by U.S. Metro Area
Map: Economic Might by U.S. Metro Area
The U.S. economy is massive on a global scale, and much of the country’s economic capabilities can be traced back to the innovation, knowledge, and productivity that tends to be clustered in urban areas.
The fact is that 80% of Americans live in cities – and the 10 largest metro areas alone combine for a whopping 34% of the country’s total GDP.
The 10 Largest Metro Areas by GDP
Today’s map comes to us from HowMuch.net, and it highlights recent data from the U.S. Bureau of Economic Analysis that estimates the GDP for each U.S. metro area in 2016:
Rank | Metropolitan Area | 2016 GDP (Est.) | Population |
---|---|---|---|
#1 | New York-Newark-Jersey City, NY-NJ-PA | $1.43 trillion | 20.1 million |
#2 | Los Angeles-Long Beach-Anaheim, CA | $885 billion | 13.3 million |
#3 | Chicago-Naperville-Elgin, IL-IN-WI | $569 billion | 9.5 million |
#4 | Dallas-Fort Worth-Arlington, TX | $471 billion | 7.2 million |
#5 | Washington-Arlington-Alexandria, DC-VA-MD-WV | $449 billion | 6.1 million |
#6 | Houston-The Woodlands-Sugar Land, TX | $442 billion | 6.7 million |
#7 | San Francisco-Oakland-Hayward, CA | $406 billion | 4.7 million |
#8 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | $381 billion | 6.1 million |
#9 | Boston-Cambridge-Newton, MA-NH | $371 billion | 4.8 million |
#10 | Atlanta-Sandy Springs-Roswell, GA | $320 billion | 5.8 million |
Top 10 Metropolitan Areas | $5.7 trillion | 84.3 million |
Note: figures in chained 2009 dollars
Not surprisingly, New York City and its surrounding area is the breadwinner here with an annual economic output of $1.43 trillion – the largest for any city in the United States. Impressively, the GDP of the NYC metro area is even higher than those of most of the world’s countries, including Australia, Mexico, and Spain.
It’s also interesting that some metro areas punch above their weight in relation to their population figures. San Francisco is #7 on the list with a GDP of $406 billion, despite having the lowest population total of all of the top 10. Boston and D.C. can be classified similarly, each with a high economic output per capita.
Trending Up, Trending Down
While they can’t quite compete with cities like New York and Chicago in terms of GDP or population, there are actually 300+ other metro areas in the country.
Here’s a recent snapshot from the BEA of which cities are growing – and which are shrinking in terms of GDP:
The BEA noted that real gross domestic product (GDP) increased in 267 out of 382 metropolitan areas in 2016.
The biggest increase was a tie between Lake Charles, LA and Bend-Redmond, OR, each which had GDP climb by 8.1% from the last year. The city that saw the biggest drop was Odessa, TX, which fell -13.3%.
Markets
Will Tesla Lose Its Spot in the Magnificent Seven?
We visualize the recent performance of the Magnificent Seven stocks, uncovering a clear divergence between the group’s top and bottom names.
Will Tesla Lose Its Spot in the Magnificent Seven?
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
In this graphic, we visualize the year-to-date (YTD) performance of the “Magnificent Seven”, a leading group of U.S. tech stocks that gained prominence in 2023 as the replacement of FAANG stocks.
All figures are as of March 12, 2024, and are listed in the table below.
Rank | Company | YTD Change (%) |
---|---|---|
1 | Nvidia | 90.8 |
2 | Meta | 44.3 |
3 | Amazon | 16.9 |
4 | Microsoft | 12 |
5 | 0.2 | |
6 | Apple | -6.7 |
7 | Tesla | -28.5 |
From these numbers, we can see a clear divergence in performance across the group.
Nvidia and Meta Lead
Nvidia is the main hero of this show, setting new all-time highs seemingly every week. The chipmaker is currently the world’s third most valuable company, with a valuation of around $2.2 trillion. This puts it very close to Apple, which is currently valued at $2.7 trillion.
The second best performer of the Magnificent Seven has been Meta, which recently re-entered the trillion dollar club after falling out of favor in 2022. The company saw a massive one-day gain of $197 billion on Feb 2, 2024.
Apple and Tesla in the Red
Tesla has lost over a quarter of its value YTD as EV hype continues to fizzle out. Other pure play EV stocks like Rivian and Lucid are also down significantly in 2024.
Meanwhile, Apple shares have struggled due to weakening demand for its products in China, as well as the company’s lack of progress in the artificial intelligence (AI) space.
Investors may have also been disappointed to hear that Apple’s electric car project, which started a decade ago, has been scrapped.
-
Money7 days ago
Visualizing All of the U.S. Currency in Circulation
-
Stocks2 weeks ago
Ranked: South Korea’s Largest Companies by Market Capitalization
-
VC+2 weeks ago
What’s New on VC+ in March?
-
Markets2 weeks ago
Confidence in the Global Economy, by Country
-
Wealth2 weeks ago
Mapped: Where Do the Wealthiest People in the World Live?
-
Misc1 week ago
Ranked: Global Airlines with the Most Plane Crashes
-
Technology1 week ago
Visualizing iPhone 15 Production by Manufacturer in 2023
-
Automotive1 week ago
Visualizing Global Electric Vehicle Sales in 2023, by Market Share