Greater Phoenix saw its annual gross domestic product climb 7.7 percent since 2019, the last full economic year before the pandemic, according to the Bureau of Economic Analysis and its 2021 County GDP Report released Dec. 8. The metro area’s growth rate was more than twice the national average for the same period, 2.9 percent, and almost a full percent higher than the state’s growth
The Greater Phoenix GDP includes data for both Maricopa and Pinal County. The Maricopa County GDP grew 7.6 percent between 2019 and 2021, and Pinal clocked in with an 11.6 percent jump, more than three times the national average. Greater Phoenix accounts for over 75 percent of the 2021 Arizona GDP.
The Phoenix-Mesa-Chandler metropolitan area posted a 2021 GDP of $261.7 billion compared to $242.9 billion in 2019. Despite the pandemic’s economic impact, the metro area GDP grew 0.8 percent to $244.9 billion in 2020 over 2019. Arizona’s GDP last year was $347.7 billion, compared with $325.4 billion in 2019.
Greater Phoenix stood tall in its economic growth compared to other major U.S. counties. The five New York City boroughs showed two with negative GDP and the largest, New York County (Manhattan), posting a 1.6 percent increase in 2021 over 2019. Los Angeles County’s growth was 1.7 percent, and Chicago less than one-half of a percent growth over the same period. Harris County, Texas (Houston), had 1.4 percent negative growth.
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