In 2023, the real gross domestic product (GDP) of Massachusetts was about 615.15 billion U.S. dollars. This is an increase from the previous year, when the state's GDP stood at 604.36 billion U.S. dollars.

Graph and download economic data for Gross Domestic Product: All Industry Total in Massachusetts (MANQGSP) from Q1 2005 to Q1 2025 about MA, GSP, industry, GDP, and USA.

In 2023, the real gross domestic product (GDP) of Massachusetts increased by roughly 1.2 percent compared to the previous year. The state's GDP experienced the most growth in 2000, when it increased by 8.1 percent when compared to the previous year.

This statistic shows the per capita real Gross Domestic Product of Massachusetts from 2000 to 2023. In 2023, the per capita real GDP of Massachusetts stood at 87,861 chained 2017 U.S. dollars.

Graph and download economic data for Real Gross Domestic Product: All Industry Total in Massachusetts (MARQGSP) from Q1 2005 to Q1 2025 about MA, GSP, real, industry, GDP, and USA.

In 2023, the GDP of Massachusetts amounted to around 616 billion U.S. dollars. In that year, the finance, insurance, real estate, rental, and leasing industry added about 132.55 billion chained 2017 U.S. dollars of value to the state GDP.

Graph and download economic data for Gross Domestic Product: Construction (23) in Massachusetts (MACONSTNGSP) from 1997 to 2024 about MA, GSP, private industries, construction, private, industry, GDP, and USA.

Information about this release can be found here (https://www.bea.gov/data/gdp/gdp-state).

For information about BEA industries and other regional definitions, visit their Regional Economic Accounts: Regional Definitions website (https://apps.bea.gov/regional/definitions/).

Graph and download economic data for Total Gross Domestic Product for Boston-Cambridge-Newton, MA-NH (MSA) (NGMP14460) from 2001 to 2023 about Boston, NH, MA, industry, GDP, and USA.

United States GDP by State per Capita: 2005p: Massachusetts data was reported at 53,221.000 USD in 2012. This records an increase from the previous number of 52,517.000 USD for 2011. United States GDP by State per Capita: 2005p: Massachusetts data is updated yearly, averaging 50,067.500 USD from Dec 1997 (Median) to 2012, with 16 observations. The data reached an all-time high of 53,221.000 USD in 2012 and a record low of 40,822.000 USD in 1997. United States GDP by State per Capita: 2005p: Massachusetts data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A174: NIPA 2009: Gross Domestic Product by State: Per Capita.

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2023, at 90,730 U.S. dollars, followed closely by Massachusetts. Mississippi had the lowest per-capita real GDP, at 39,102 U.S. dollars. While not a state, the District of Columbia had a per capita GDP of more than 214,000 U.S. dollars. What is real GDP? A country’s real GDP is a measure that shows the value of the goods and services produced by an economy and is adjusted for inflation. The real GDP of a country helps economists to see the health of a country’s economy and its standard of living. Downturns in GDP growth can indicate financial difficulties, such as the financial crisis of 2008 and 2009, when the U.S. GDP decreased by 2.5 percent. The COVID-19 pandemic had a significant impact on U.S. GDP, shrinking the economy 2.8 percent. The U.S. economy rebounded in 2021, however, growing by nearly six percent. Why real GDP per capita matters Real GDP per capita takes the GDP of a country, state, or metropolitan area and divides it by the number of people in that area. Some argue that per-capita GDP is more important than the GDP of a country, as it is a good indicator of whether or not the country’s population is getting wealthier, thus increasing the standard of living in that area. The best measure of standard of living when comparing across countries is thought to be GDP per capita at purchasing power parity (PPP) which uses the prices of specific goods to compare the absolute purchasing power of a countries currency.

Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Massachusetts was 123.87200 Index 2009=100 in January of 2024, according to the United States Federal Reserve. Historically, Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Massachusetts reached a record high of 123.87200 in January of 2024 and a record low of 59.11200 in January of 1997. Trading Economics provides the current actual value, an historical data chart and related indicators for Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Massachusetts - last updated from the United States Federal Reserve on June of 2025.

The gross domestic product (GDP) of California was about 3.23 trillion U.S. dollars in 2023, meaning that it contributed the most out of any state to the country’s GDP in that year. In contrast, Vermont had the lowest GDP in the United States, with 35.07 billion U.S. dollars. What is GDP? Gross domestic product, or GDP, is the total monetary value of all goods and services produced by an economy within a certain time period. GDP is used by economists to determine the economic health of an area, as well as to determine the size of the economy. GDP can be determined for countries, states and provinces, and metropolitan areas. While GDP is a good measure of the absolute size of a country's economy and economic activity, it does account for many other factors, making it a poor indicator for measuring the cost or standard of living in a country, or for making cross-country comparisons. GDP of the United States The United States has the largest gross domestic product in the world as of 2023, with China, Japan, Germany, and India rounding out the top five. The GDP of the United States has almost quadrupled since 1990, when it was about 5.9 trillion U.S. dollars, to about 25.46 trillion U.S. dollars in 2022.

Graph and download economic data for Real Gross Domestic Product: All Industry Total in Massachusetts (MARGSP) from 1997 to 2024 about MA, GSP, real, industry, GDP, and USA.

United States US: GDP: Growth data was reported at 2.273 % in 2017. This records an increase from the previous number of 1.485 % for 2016. United States US: GDP: Growth data is updated yearly, averaging 3.207 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 7.259 % in 1984 and a record low of -2.776 % in 2009. United States US: GDP: Growth data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

In 2023, the state of California added about 3.2 trillion chained (2017) U.S. dollars of value to the U.S. real gross domestic product (GDP). Total real GDP amounted to about 22.7 trillion chained (2017) U.S. dollars.

Graph and download economic data for Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Massachusetts (MAAGRRQGSP) from Q1 2005 to Q1 2025 about hunting, forestry, fishing, MA, agriculture, GSP, private industries, private, real, industry, GDP, and USA.

United States US: GDP: Growth:(GDP) Gross Domestic Productper Capita data was reported at 1.547 % in 2017. This records an increase from the previous number of 0.743 % for 2016. United States US: GDP: Growth:(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 2.087 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 6.334 % in 1984 and a record low of -3.624 % in 2009. United States US: GDP: Growth:(GDP) Gross Domestic Productper Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GDP per capita based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

The statistic shows the gross domestic product (GDP) of the United States from 1987 to 2024, with projections up until 2030. The gross domestic product of the United States in 2024 amounted to around 29.18 trillion U.S. dollars. The United States and the economy The United States’ economy is by far the largest in the world; a status which can be determined by several key factors, one being gross domestic product: A look at the GDP of the main industrialized and emerging countries shows a significant difference between US GDP and the GDP of China, the runner-up in the ranking, as well as the followers Japan, Germany and France. Interestingly, it is assumed that China will have surpassed the States in terms of GDP by 2030, but for now, the United States is among the leading countries in almost all other relevant rankings and statistics, trade and employment for example. See the U.S. GDP growth rate here. Just like in other countries, the American economy suffered a severe setback when the economic crisis occurred in 2008. The American economy entered a recession caused by the collapsing real estate market and increasing unemployment. Despite this, the standard of living is considered quite high; life expectancy in the United States has been continually increasing slightly over the past decade, the unemployment rate in the United States has been steadily recovering and decreasing since the crisis, and the Big Mac Index, which represents the global prices for a Big Mac, a popular indicator for the purchasing power of an economy, shows that the United States’ purchasing power in particular is only slightly lower than that of the euro area.

Chain-Type Quantity Index for Real GDP: Educational Services (NAICS 61) in Massachusetts was 107.85300 Index 2009=100 in January of 2024, according to the United States Federal Reserve. Historically, Chain-Type Quantity Index for Real GDP: Educational Services (NAICS 61) in Massachusetts reached a record high of 107.85300 in January of 2024 and a record low of 73.24200 in January of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for Chain-Type Quantity Index for Real GDP: Educational Services (NAICS 61) in Massachusetts - last updated from the United States Federal Reserve on May of 2025.