Issue link: http://savannah.uberflip.com/i/1444971
34 Savannah Area Chamber of Commerce 2022 Economic Trends 6 Economy: Gross Regional Product Gross Regional Product (GRP) in Savannah decreased by $883 million (-4.0%) from 2019 to 2020 as a result of the pandemic; this puts Savannah in seventh place for growth among Georgia metropolitan areas measured by the U.S. Department of Commerce's Bureau of Economic Analysis. At almost $21 billion, Savannah's GRP is the state's third largest, behind only Atlanta and Augusta. Economic activity generated by Savannah's private sector industries measured over $19 billion in 2020 and accounted for 87% of the regional economy in 2020. Growth GDP ($ millions) 2018-2019 Change Rank MSA 2018 2019 2020 1 Gainesville $ 10,489 $ 10,680 $ 11,293 5.7% 2 Atlanta $ 410,234 $ 416,446 $ 420,164 0.9% 3 Dalton $ 7,161 $ 7,112 $ 7,144 0.4% 4 Warner Robins $ 7,794 $ 8,079 $ 8,072 -0.1% 5 Augusta-Richmond County $ 27,821 $ 28,479 $ 28,143 -1.2% 6 Athens-Clarke County $ 10,423 $ 10,249 $ 10,005 -2.4% 7 Savannah $ 21,689 $ 21,881 $ 20,998 -4.0% 8 Columbus $ 15,073 $ 15,228 $ 14,674 -4.0% 9 Albany $ 6,117 $ 6,383 $ 5,800 -9.1% 10 Macon-Bibb County $ 11,795 $ 11,744 $ 10,428 -11.2% Source: BEA.gov Table (CAGDP9). All data are in 2020 inflation adjusted dollars. A diverse mix of industries, busy ports and strategically networked transportation, logistics, energy and communications infrastructures create a business climate in Savannah that is unmatched in many larger cities. Savannah's exceptionally high value-adding production in manufacturing represents approximately 15% of the region's total output. Source: Bureau of Economic Analysis, U.S. Department of Commerce, Gross Domestic Product by Metropolitan Area, Table CAGDP9. Inflation adjusted 2020 dollars. "Wholesale Trade" and "Transportation and Utilities" are suppressed to avoid the disclosure of confidential information. GRP is the measure of the market value of final goods and services produced within a metropolitan area in a particular period of time. It is the most comprehensive measure of economic activity provided by the Bureau of Economic Analysis of the U.S. Department of Commerce.