Desha County vs. Arkansas
Comparative Trends Analysis:
Gross Domestic Product Growth and Change, 2001-2021
Introduction
Desha County vs. Arkansas
Desha County:
2021 GDP = $596,707K
2021 Percent of State = 0.40%
Arkansas:
2021 GDP = $148,676,113K
2021 Percent of U.S. = 0.64%
Nationally, GDP (Gross Domestic Product) is widely regarded as the foremost blue-chip barometer for tracking and calibrating the economic performance of the economy nationwide. Like its closely followed national counterpart, the GDP of Desha County is the most comprehensive measure of output of all goods and services produced by labor and property located within Desha County. It is a market valuation of the goods and services-both private and public-produced within a regional economy.
Unlike the widely and frequently reported employment and job numbers that measure labor as one of the units of input into production, GDP is a valuation of the output. Also, while County Personal Income is representative of the "purchasing power" of those that reside within a county, think of Gross Domestic Product as representative of the "producing power" of that county.
For a more detailed and technical explanation of Gross Domestic Product (GDP) by County compiled by the Regional Product Branch of Bureau of Economic Analysis please refer to the A Primer on Local Area Gross Domestic Product Methodology article found on the BEA website.

BEA: Definition

GDP by county is the county counterpart of the Nation's gross domestic product (GDP), the Bureau's featured and most comprehensive measure of U.S. economic activity. GDP by county is derived as the sum of the GDP originating in all the industries in a county.

The statistics of real GDP by county are prepared in chained (2012) dollars. Real GDP by county is an inflation-adjusted measure of each county's gross product that is based on national prices for the goods and services produced within that county. The statistics of real GDP by county and of quantity indexes with a base year of 2012 were derived by applying national chain-type price indexes to the current-dollar GDP-by-county values for the 64 detailed NAICS-based industries for 1997 forward.

The chain-type index formula that is used in the national accounts is then used to calculate the values of total real GDP by county and of real GDP by county at more aggregated industry levels. Real GDP by county may reflect a substantial volume of output that is sold to other counties and regions. To the extent that a county's output is produced and sold in national markets at relatively uniform prices (or sold locally at national prices), real GDP by state captures the differences across states that reflect the relative differences in the mix of goods and services that the counties produce. However, real GDP by county does not capture geographic differences in the prices of goods and services that are produced and sold locally.

United States. Bureau of Economic Analysis, Regional Product Division.
BEA News Release (GDP by State). 2013. Web.
https://www.bea.gov/data/gdp/gdp-state.

BEA: Relation of GDP by county to U.S. Gross Domestic Product (GDP)

An industry's GDP by county, or its value added, in practice, is calculated as the sum of incomes earned by labor and capital and the costs incurred in the production of goods and services. That is, it includes the wages and salaries that workers earn, the income earned by individual or joint entrepreneurs as well as by corporations, and business taxes such as sales, property, and Federal excise taxes that count as a business expense.

GDP is calculated as the sum of what consumers, businesses, and government spend on final goods and services, plus investment and net foreign trade. In theory, incomes earned should equal what is spent, but due to different data sources, income earned, usually referred to as gross domestic income (GDI), does not always equal what is spent (GDP). The difference is referred to as the "statistical discrepancy."

Starting with the 2004 comprehensive revision, BEA's annual industry accounts and its GDP-by-county accounts allocate the statistical discrepancy across all private-sector industries. Therefore, the GDP-by-county statistics are now conceptually more similar to the GDP statistics in the national accounts than they had been in the past.

U.S. real GDP by county for the advance year, 2012, may differ from the Annual Industry Accounts' GDP by industry and, hence NIPA (National Income and Product Account) GDP, because of different sources and vintages of data used to estimate GDP by state and NIPA GDP. For the revised years of 2009-2011, U.S. GDP by county is nearly identical to GDP by industry except for small differences resulting from the GDP-by-county accounts' exclusion of overseas Federal military and civilian activity (because it cannot be attributed to a particular state). The GDP-by-industry statistics are identical to those from the 2012 annual revision of the NIPAs, released in July 2012. However, because of revisions since July 2012, GDP in the NIPAs may differ from U.S. GDP by county.

United States. Bureau of Economic Analysis, Regional Product Division.
BEA News Release (GDP by State). 2013. Web.
https://www.bea.gov/data/gdp/gdp-state.

Desha County Gross Domestic Product, 2002-2021
Current vs. Chained 2012 Dollars (Millions)
Desha County Gross Domestic Product, 2002-2021
Current vs. Chained 2012 Dollars (Millions)
Figure 1.
Figure 1 depicts Desha County's annual gross domestic product over 2002-2021 in current and constant (chained 2012) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real total good and services output of Desha County over time.
When measured in current dollars, Desha County's GDP increased 86.64%, from $320M in 2002 to $597M in 2021. When measured in constant 2012 dollars to adjust for inflation, it advanced 19.52%, from $432M in 2002 to $516M in 2021.
Real Gross Domestic Product, 2001-2021 (Millions)
Real Gross Domestic Product, 2001-2021 (Millions)
Figure 2.
Figure 2 traces Desha County's and Arkansas' annual real gross domestic product for the period 2001-2021 to illustrate real gross domestic product patterns over time. During this 21-year period, Desha County's real gross domestic product rose from $431M in 2001 to $516M in 2021, for a net gain of $85M, or 19.71%. In comparison, Arkansas' real GDP advanced from $89,789M in 2001 to $123,347M in 2021, for a net advance of $33,558M, or 37.37%.
Real Gross Domestic Product Indices (2001=100): 2001-2021
Real Gross Domestic Product Indices (2001=100): 2001-2021
Figure 3.
Figure 3 shows Desha County's real gross domestic product growth in a broader context by offering direct comparisons across time with Arkansas, the United States. The growth indices shown here express each region's real gross domestic product in 2001 as a base figure of 100, and the real gross domestic products in later years as a percentage of the 2001 base figure. This method allows for more direct comparison of differences in real gross domestic product growth between regions that may differ vastly in size.
Desha County's overall real GDP growth was 19.71% over 2001-2021 trailed Arkansas' increase of 37.37%, and fell below the United States' increase of 47.85%.
Gross Domestic Product as a Percent of the Arkansas Total: 2001-2021
Gross Domestic Product as a Percent of the Arkansas Total: 2001-2021
Figure 4.
Another interesting and insightful way of comparing the gross domestic product growth of Desha County is to trace its individual percentage contributions to Arkansas' statewide gross domestic product over time, as shown in Figure 4. A rising share means a region's gross domestic product grew faster, or declined less, than Arkansas' gross domestic product, while a declining share shows it grew more slowly.
In 2001, Desha County's GDP comprised 0.45% of Arkansas' GDP, while in 2021 it equated to 0.40% thereby yielding a -0.05% share-shift.
   
 
Gross Domestic Product Share-Shift
2021 vs. 2001
 
Share-
Shift*
 
2021
vs.
2001
-0.05%
=
0.40%
-
0.45%
 
   
Desha County Real Gross Domestic Product:
Annual Percent Change, 2002-2021
Desha County Real Gross Domestic Product:
Annual Percent Change, 2002-2021
Figure 5.
Figure 5 highlights the short-run pattern of Desha County's real gross domestic product growth by tracking the year-to-year percent change over 2002-2021. The average annual percent change for the entire 20-year period is also traced on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.
On average, Desha County's real GDP grew at an annual rate of 1.15% over 2002-2021. The county posted its highest growth in 2003 (16.80%) and posted its lowest growth in 2017 (-14.51%). In 2021, Desha County's real GDP declined by -3.85%
Desha County Real Gross Domestic Product:
Annual Percent Change and Decade Averages Over 2002-2021
Desha County Real Gross Domestic Product:
Annual Percent Change and Decade Averages Over 2002-2021
Figure 6.
Figure 6 again depicts the annual percent change in Desha County's real gross domestic product since 2002, but this time they are displayed with average growth rates for the decade of the 2000s, 2010s, and 2020-2021.
During 2002-2009, Desha County's annual real GDP growth rate averaged 2.91%. It averaged 0.04% in the 2010s, -0.31% thus far this decade (2020-2021).
Real Gross Domestic Product Growth:
Average Annual Percent Change by Decade
Real Gross Domestic Product Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Desha County noted in the previous graph with the corresponding decade averages for Arkansas and the nation. As the chart reveals, Desha County's average annual real gross domestic product growth outperformed Arkansas' average during the 2000s (2.91% vs. 1.77%), amounted to less than Arkansas' average in the 2010s (0.04% vs. 1.30%), and lagged Arkansas' average over the 2 year period of the current decade, 2020-2021 (-0.31% vs. 2.65%).
Finally, relative to nationwide real gross domestic product growth trends, Desha County outperformed the nation over the 2000s (2.91% vs. 1.77%), recorded underneath the nation during the 2010s (0.04% vs. 2.25%), and lagged the nation over 2020-2021 (-0.31% vs. 1.59%).
   
 
Real* Gross Domestic Product Growth:
Average Annual Percent Change
 
 
 
1.15
2.91
0.04
-0.31
-3.85
 
1.62
1.77
1.30
2.65
5.18
 
1.99
1.77
2.25
1.59
5.95
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Desha County:
Gross Domestic Product, 2001-2021
 
2001
 
317,259
0.839
431,189
100.0
N
0.45
2002
 
319,708
0.840
431,893
100.2
0.16
0.43
2003
 
381,025
0.982
504,460
117.0
16.80
0.48
2004
 
375,013
0.928
477,094
110.6
-5.42
0.44
2005
 
383,461
0.950
488,146
113.2
2.32
0.42
2006
 
392,291
0.951
488,965
113.4
0.17
0.41
2007
 
415,269
0.950
488,116
113.2
-0.17
0.42
2008
 
432,946
0.972
499,692
115.9
2.37
0.43
2009
 
457,710
1.041
535,127
124.1
7.09
0.47
2010
 
494,970
1.075
552,332
128.1
3.22
0.49
2011
 
534,615
1.064
547,109
126.9
-0.95
0.51
2012
 
513,966
1.000
513,966
119.2
-6.06
0.47
2013
 
559,673
1.057
543,226
126.0
5.69
0.49
2014
 
500,582
0.949
488,006
113.2
-10.17
0.43
2015
 
549,717
1.061
545,126
126.4
11.70
0.47
2016
 
581,396
1.160
596,167
138.3
9.36
0.49
2017
 
515,595
0.992
509,652
118.2
-14.51
0.42
2018
 
514,968
0.980
503,611
116.8
-1.19
0.40
2019
 
539,000
1.012
520,072
120.6
3.27
0.41
2020
 
558,747
1.045
536,852
124.5
3.23
0.42
2021
 
596,707
1.004
516,189
119.7
-3.85
0.40
Source: Calculations by the Arkansas Regional Economic Analysis Project (AR-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_2000_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Arkansas:
Gross Domestic Product, 2001-2021
 
2001
 
70,616,704
0.828
89,789,042
100.0
N
0.67
2002
 
74,113,917
0.857
92,950,465
103.5
3.52
0.68
2003
 
78,695,083
0.894
96,944,478
108.0
4.30
0.69
2004
 
85,199,618
0.938
101,733,599
113.3
4.94
0.70
2005
 
90,887,740
0.977
105,979,954
118.0
4.17
0.70
2006
 
95,875,115
1.000
108,460,550
120.8
2.34
0.69
2007
 
98,381,637
0.992
107,606,076
119.8
-0.79
0.68
2008
 
99,706,792
0.982
106,536,501
118.7
-0.99
0.68
2009
 
97,508,148
0.949
102,996,613
114.7
-3.32
0.67
2010
 
101,486,535
0.974
105,662,030
117.7
2.59
0.67
2011
 
105,768,088
0.995
107,932,548
120.2
2.15
0.68
2012
 
108,492,083
1.000
108,492,083
120.8
0.52
0.67
2013
 
113,227,341
1.021
110,752,406
123.3
2.08
0.67
2014
 
116,139,444
1.030
111,734,533
124.4
0.89
0.66
2015
 
117,786,782
1.036
112,350,970
125.1
0.55
0.65
2016
 
119,152,389
1.040
112,798,120
125.6
0.40
0.64
2017
 
122,466,721
1.049
113,850,246
126.8
0.93
0.63
2018
 
127,535,660
1.068
115,885,234
129.1
1.79
0.62
2019
 
131,578,279
1.080
117,126,184
130.4
1.07
0.62
2020
 
133,969,089
1.081
117,268,163
130.6
0.12
0.64
2021
 
148,676,113
1.137
123,347,316
137.4
5.18
0.64
Source: Calculations by the Arkansas Regional Economic Analysis Project (AR-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_2000_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
United States:
Gross Domestic Product, 2001-2021
 
2001
 
10,581,929,000
0.816
13,263,417,000
100.0
N
2002
 
10,929,108,000
0.830
13,488,357,000
101.7
1.70
2003
 
11,456,450,000
0.853
13,865,519,000
104.5
2.80
2004
 
12,217,196,000
0.886
14,399,696,000
108.6
3.85
2005
 
13,039,197,000
0.917
14,901,269,000
112.3
3.48
2006
 
13,815,583,000
0.942
15,315,943,000
115.5
2.78
2007
 
14,474,228,000
0.961
15,623,871,000
117.8
2.01
2008
 
14,769,862,000
0.962
15,642,962,000
117.9
0.12
2009
 
14,478,067,000
0.937
15,236,262,000
114.9
-2.60
2010
 
15,048,970,000
0.963
15,648,991,000
118.0
2.71
2011
 
15,599,731,000
0.978
15,891,534,000
119.8
1.55
2012
 
16,253,970,000
1.000
16,253,970,000
122.5
2.28
2013
 
16,843,196,000
1.018
16,553,348,000
124.8
1.84
2014
 
17,550,687,000
1.042
16,932,051,000
127.7
2.29
2015
 
18,206,023,000
1.070
17,390,295,000
131.1
2.71
2016
 
18,695,106,000
1.088
17,680,274,000
133.3
1.67
2017
 
19,477,337,000
1.112
18,076,651,000
136.3
2.24
2018
 
20,533,058,000
1.145
18,609,078,000
140.3
2.95
2019
 
21,380,976,000
1.171
19,036,052,000
143.5
2.29
2020
 
21,060,474,000
1.139
18,509,143,000
139.6
-2.77
2021
 
23,315,081,000
1.206
19,609,812,000
147.8
5.95
Source: Calculations by the Arkansas Regional Economic Analysis Project (AR-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_2000_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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