Washington GDP size and rank

The economy of Washington posted a real GDP growth rate of 2%.

Washington economic development and output

The economic output of the state of Washington was $323 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 $265 billion in 2008, according to data from the U.S. Department of Commerce.

The data for economic growth show Washington GDP grew at 4% in nominal terms in 2008 compared to 2007, in real terms the growth was 2%.

During the years of 2000-2008, Washington GDP grew at an annual rate of 4.8% in nominal terms and in real terms the economy grew by 2.2%.

Washington economy rank

The Washington economy is the 14th largest in the United States, behind Massachusetts and ahead of Maryland.

Government

Government led all sectors in the state's economy. Government contributed $46.9 billion in economic development in 2008, that's 14.5% of the total economic output of Washington.

Real estate

Coming in second adding $45.3 billion, the real estate sector was responsible for 14% of the Washington economy in 2008.

Manufacturing, information, retail trade

Manufacturing accounted for 9.9% of the economic output with a contribution of $32 billion.

Ranking fourth and fifth biggest sectors in the state were information $25.5 billion and retail trade $22.7 billion, respectively.

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Washington economic development
Downtown Seattle, Washington flickr/dweekly