Metro gross domestic product (GDP) is the most comprehensive measure of Chelan and Douglas counties’ economic activity.
Metro GDP represents an effort by the U.S. Bureau of Economic Analysis to give a snapshot of local economies that mirror methods of national income and product accounting.
The measure produces larger numbers than metropolitan statistical area (MSA) or county personal income, as it contains imputed values for residential housing, corporate profits and depreciation, among others.
Both the public and the private sector can benefit from knowing this indicator and can use it to determine what industries are driving the growth in the economies of Chelan and Douglas counties.
Metro GDP figures also include federal (includes military), state and local governments (includes K-12 teachers).
This indicator measures the metro GDP by major sector in Chelan and Douglas counties combined. Washington state and the U.S. are offered as benchmarks.
Where are we?
During 2016, the top five major sectors in the local metro GDP of Chelan and Douglas counties combined was:
♦ $722 million for government, increasing from $636 million, or by 13 percent since 2002.
♦ $453 million for health care and social assistance, increasing from $341 million, or by 33 percent since 2002.
♦ $391 million for real estate, rental and leasing, decreasing from $440 million, or by 11 percent since 2002.
♦ $392 million for retail trade, increasing from $326 million, or by 20 percent since 2002.
♦ $271 million for farms, increasing from $204 million, or by 33 percent since 2002.
By comparison, the annual growth rate in the metro GDP from 2015 to 2016 in:
♦ Chelan and Douglas counties combined was 6.2 percent.
♦ Washington state was 4.2 percent.
♦ The U.S. was 2.0 percent.
Source: U.S. Department of Commerce, Bureau of Economic Analysis
The Institute for Public Policy and Economic Analysis is a multi-college program at Eastern Washington University. The institute, staff and students, gathered the statistical data, wrote the explanations and designed the Chelan-Douglas Trends website.