The real GDP of Michigan in 2023 amount to around 554.26 billion U.S. dollars. In that year, the construction industry added 17.82 billion chained 2017 U.S. dollars of value to the total state GDP. The manufacturing industry was the greatest contributor to GDP in that year.
Real value added to the gross domestic product of Michigan in the United States in 2023, by industry
(in billion chained 2017 U.S. dollars)
Industry
Real value added in billion chained (2017) U.S. dollars
Finance, insurance, real estate, rental, and leasing
101.95
Manufacturing
98.03
Professional and business services
84.38
Government and government enterprises
54.86
Educational services, health care, and social assistance
51.12
Retail trade
35.8
Wholesale trade
31.97
Information
18.97
Arts, entertainment, recreation, accommodation, and food services
Chained (2017) dollar series are calculated as the product of the chain-type quantity index and the 2017 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
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BEA. (September 27, 2024). Real value added to the gross domestic product of Michigan in the United States in 2023, by industry (in billion chained 2017 U.S. dollars) [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/588974/michigan-real-gdp-by-industry/
BEA. "Real value added to the gross domestic product of Michigan in the United States in 2023, by industry (in billion chained 2017 U.S. dollars)." Chart. September 27, 2024. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/588974/michigan-real-gdp-by-industry/
BEA. (2024). Real value added to the gross domestic product of Michigan in the United States in 2023, by industry (in billion chained 2017 U.S. dollars). Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/588974/michigan-real-gdp-by-industry/
BEA. "Real Value Added to The Gross Domestic Product of Michigan in The United States in 2023, by Industry (in Billion Chained 2017 U.S. Dollars)." Statista, Statista Inc., 27 Sep 2024, https://www.statista.com/statistics/588974/michigan-real-gdp-by-industry/
BEA, Real value added to the gross domestic product of Michigan in the United States in 2023, by industry (in billion chained 2017 U.S. dollars) Statista, https://www.statista.com/statistics/588974/michigan-real-gdp-by-industry/ (last visited November 22, 2024)
Real value added to the gross domestic product of Michigan in the United States in 2023, by industry (in billion chained 2017 U.S. dollars) [Graph], BEA, September 27, 2024. [Online]. Available: https://www.statista.com/statistics/588974/michigan-real-gdp-by-industry/
