Processing...BEARFACTS
Personal income last published on September 30, 2015.
Personal Income for Virginia
The population of Virginia in 2014 was 8,326,289. Its rank was 12th in the nation.
Per Capita Personal Income
In 2014, Virginia had a per capita personal income (PCPI) of $50,345. This PCPI ranked 10th in the United States and was 109 percent of the national average, $46,049. The 2014 PCPI reflected an increase of 2.8 percent from 2013. The 2013-2014 national change was 3.6 percent. In 2004, the PCPI of Virginia was $37,753 and ranked 7th in the United States. The 2004-2014 compound annual growth rate of PCPI was 2.9 percent. The compound annual growth rate for the nation was 3.0 percent.
Per Capita Personal Income, 2014
Per Capita Income as a Percent of the United States
Total Personal Income
In 2014, Virginia had a total personal income (TPI) of $419,184,911*. This TPI ranked 9th in the United States . In 2004, the TPI of Virginia was $282,227,101* and ranked 10th in the United States.
*Total personal income estimates are in thousands of dollars, not adjusted for inflation.
| 2013-2014 percent change | 2004-2014 CAGR | |
|---|---|---|
| Virginia | 3.5 % | 4.0 % |
| U.S. | 4.4 % | 3.9 % |
| CAGR: compound annual growth rate | ||
Components of Total Personal Income
Total personal income includes net earnings by place of residence; dividends, interest, and rent; and personal current transfer receipts received by the residents of Virginia.
2013-2014 percent change
| Virginia | U.S. | |
|---|---|---|
| Net earnings | 3.3 % | 4.6 % |
| Dividends, interest, and rent | 4.0 % | 4.0 % |
| Personal current transfer receipts | 3.8 % | 4.2 % |
2004-2014 CAGR
| Virginia | U.S. | |
|---|---|---|
| Net earnings | 3.4 % | 3.2 % |
| Dividends, interest, and rent | 4.6 % | 4.5 % |
| Personal current transfer receipts | 6.8 % | 5.9 % |
| CAGR: compound annual growth rate | ||
Percent Contribution to Total Personal Income
| Virginia | United States | |
|---|---|---|
| 2004 | 
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| 2014 | 
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| Net earnings by place of residence | ||
| Dividends, interest, and rent | ||
| Personal current transfer receipts | ||
GDP last published on December 10, 2015.
GDP for Virginia
Gross Domestic Product (GDP) by State
In 2014, Virginia current-dollar GDP was $462.9 billion and ranked 11th in the United States. In 2004, Virginia GDP was $330.4 billion and ranked 12th in the United States.
In 2014, Virginia real GDP grew 0.4 percent; the 2013-2014 national change was 2.2 percent. The 2004-2014 compound annual growth rate for Virginia real GDP was 1.3 percent; the compound annual growth rate for the nation was 1.3 percent.
GDP by State for Industries
In 2014, the largest industry in Virginia was finance, insurance, real estate, rental, and leasing. This industry accounted for 19.4 percent of Virginia GDP and had 1.2 percent real growth. The second largest industry was government, which accounted for 18.8 percent of Virginia GDP and had 0.5 percent real growth.
The largest contributor to real GDP growth in Virginia was finance, insurance, real estate, rental, and leasing. This industry accounted for 0.24 percentage point of the total growth in real GDP. The second largest contributor was information. This industry accounted for 0.17 percentage point of the total growth in real GDP.*
* The industry contributions, or sum thereof, may be larger than 100 percent (and the percentage points larger than the percent change) because growing and declining industries offset one another.
Top Five State Industries as a percent of Total GDP, 2014
| Virginia | United States | |
|---|---|---|
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| Nondurable goods manufacturing manufacturing | Educational services, health care, and social assistance | |
| Finance, insurance, real estate, rental, and leasing | Government | |
| Professional and business services | All others |