Iowa's Gross Domestic Product
This report provides information on the market value of final goods & services produced in Iowa. The real gross domestic product (GDP) helps determine whether our economy is growing or is experiencing a recession. This report is based on estimates provided by the U.S. Department of Commerce, Bureau of Economic Analysis.
Real GDP values are reported in millions of chained 2012 dollars, but have been converted to chained 2012 dollars for the purposes of this report. Data presented on this dashboard are only accurate to the nearest $100,000.
What is the Real GDP?
The Iowa real GDP is an inflation-adjusted measure of Iowa's GDP. Iowa's GDP is the measure of the market value of all final goods and services produced within Iowa. In concept, an industry's GDP by state, referred to as its "value added", is equivalent to its gross output (sales or receipts and other operating income, commodity taxes, and inventory change) minus its intermediate inputs (consumption of goods and services purchased from other U.S. industries or imported). Iowa GDP excludes the compensation of federal civilian and military personnel stationed abroad and government consumption of fixed capital for military structures located abroad and for military equipment, except office equipment.
Real GDP by Industry Sector
The following shows the Real GDP for most recent quarterly estimate for the 20 sectors identified in the North American Industry Classification System.
Goods Producing Industries
The following charts present the real GDP by year for goods producing industries.
Service Providing Industries
The following charts present the real GDP by year for service providing industries.
The following charts present the real GDP by year for the Government and Government Enterprises Sector.