fedgazette

District metropolitan economies surpass some countries

Gross Product by Country and Metropolitan Area

Published July 1, 2000  |  July 2000 issue

Country or Metro Area Gross Product (in Billions of Dollars) 1999 Gross Product Per Capita (in Dollars) 1999
United States
9,256.2
33,889
Minneapolis-St. Paul, MN-WI
110.7
38,418
Ireland
91.1
24,371
Sioux Falls, SD
7.4
45,348
Duluth-Superior, MN-WI
7.1
29,755
Latvia
6.3
2,567
Fargo-Moorhead, ND-MN
5.4
31,724
St. Cloud, MN
5.4
32,738
Nepal
5.1
217
Rochester, MN
4.7
40,178
Eau Claire, WI
4.3
29,724
La Crosse WI-MN
4.1
33,228
Angola
3.8
307
Billings, MT
3.5
27,850
Cambodia
2.8
244
Rapid City, SD
2.6
30,172
Bismarck, ND
2.6
28,495
Missoula, MT
2.6
28,798
Grand Forks, ND-MN
2.5
25,887
Great Falls, MT
1.8
23,038
Cayman Islands
1.5
37,487

Source: Standard & Poor's DRI

The size of district metropolitan economies is larger than many countries, according to a study by Standard & Poor's DRI. The gross product—the annual value of goods and services produced—in district cities reached $165 billion in 1999, larger than the economy of Norway. Nationwide, Minneapolis-St. Paul was the 12th largest metropolitan economy in the United States, with a gross product of $110.7 billion. Within the district, Sioux Falls, S.D., finished with the largest gross product per capita at $45,348. Higher levels of gross product in a city or country often result in higher income and overall better standards of living for its citizens.

New York, Los Angeles-Long Beach and Chicago were the top three metropolitan areas in the United States, with a combined gross product of over $1 trillion, larger than China's gross product. For the complete study, visit the U.S. Conference of Mayors Web site at www.usmayors.org.

See also:
Local Economic Development, Part I
  fedgazette, April 2000

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