South Carolina economic development, GDP size and rank

South Carolina economic development and output

The economic output of the state of South Carolina was $156 billion in 2008. That figure is based on current 2008 dollars (nominal GDP), while the inflation adjusted GDP, real GDP, based on prices in the year 2000, was $127 billion in 2008, according to data from the U.S. Department of Commerce.

The data for economic growth show South Carolina GDP grew at 3.1% in nominal terms in 2008 compared to 2007, in real terms the growth was 0.6%.

During the years of 2000-2008, South Carolina GDP grew at an annual rate of 4.2% in nominal terms and in real terms the economy grew by 1.5%.

South Carolina economy rank

The South Carolina economy is the 28th largest in the United States, behind Kentucky and ahead of Oklahoma.

Government

Government led all sectors in the state's economy. Government contributed $27.1 billion in economic development in 2008, that's 17.3% of the total economic output of South Carolina.

Manufacturing

Coming in second adding $25.2 billion, the manufacturing sector was responsible for 16.1% of the South Carolina economy in 2008.

Real estate, retail trade, healthcare

Real estate accounted for 10.5% of the economic output with a contribution of $16.5 billion.

Ranking fourth and fifth biggest sectors in the state were retail trade $12.3 billion and healthcare $9.7 billion, respectively.