Finance and insurance industry top 10 states by GDP
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PrintThe top 10 state economies with the largest contribution to the finance and insurance industry GDP, according to data from the U.S. Department of Commerce, are listed below. Due to the sheer size of their economies, this list is dominated by the largest state economies in the United States.
Leading the list is New York's economy. New York contributed $187.2 billion worth of finance and insurance output in 2008. This was 17.6% of the finance and insurance output of the United States.
Since 2000, New York's finance and insurance industry has grown 4.51% annually. New York's finance and insurance output was 16.4% of New York's economy and the finance and insurance industry is the largest industry in New York.
Coming in second is California with an output of $107.6 billion. This was 10.1% of the finance and insurance output of the United States. Since 2000, California's finance and insurance industry has grown 4.77% annually. California's finance and insurance output was 5.8% of California's economy and the finance and insurance industry is the 8th largest industry in California.
Coming in third is Texas with an output of $66.8 billion. This was 6.3% of the finance and insurance output of the United States. Since 2000, Texas's finance and insurance industry has grown 5.83% annually. Texas's finance and insurance output was 5.5% of Texas's economy and is ranked the 9th largest industry in Texas.
Finance and insurance industry top 10 states in 2008
| Finance and insurance gross domestic product in $ billions | |||
| Rank | State | GDP | Percentage of U.S. |
|---|---|---|---|
| 1 | New York | $187.2 | 17.6% |
| 2 | California | $107.6 | 10.1% |
| 3 | Texas | $66.8 | 6.3% |
| 4 | Illinois | $58 | 5.4% |
| 5 | Florida | $47.4 | 4.5% |
| 6 | Pennsylvania | $40.3 | 3.8% |
| 7 | North Carolina | $39.9 | 3.7% |
| 8 | New Jersey | $36.4 | 3.4% |
| 9 | Massachusetts | $35.5 | 3.3% |
| 10 | Ohio | $34.7 | 3.3% |
