Florida economic development, GDP size and rank

Florida economic development and output

The economic output of the state of Florida was $744 billion in 2008. That figure is based on current dollars (nominal GDP), while the inflation adjusted GDP, real GDP, based on prices in the year 2000, was $603 billion in 2008, according to data from the U.S. Department of Commerce.

The statistics for economic growth show Florida GDP grew at 0.3% in nominal terms.

During the years of 2000-2008, Florida GDP grew at an annual rate of 5.87% in nominal terms.

Florida economy rank

The Florida economy's ranking is the 4th largest in the United States, ahead of Illinois and behind New York.

Real estate

Real estate led all sectors in the state's economy. Real estate contributed $134 billion in economic development in 2008, that's nearly 18% of the total economic output of Florida. In the year 2000, real estate accounted for 15% of the state's economy.

Coming in second adding $91 billion, the government sector was responsible for 12% of the Florida economy in 2008.

Healthcare, retail, professional and technical

Healthcare and related sectors contributed $58 billion, that's nearly 8% of Florida's economy.

Ranking fourth and fifth biggest sectors in the state were retail trade $56 billion and professional and technical services $51 billion, respectively.