Issue link: http://savannah.uberflip.com/i/1489710
38 Savannah Area Chamber of Commerce 2023 Economic Trends 6 Economy: Gross Domestic Product Gross Domestic Product (GDP) in Savannah increased $1.9 billion (+8.8%) from 2020 to 2021 as the economic strongly rebounded from the pandemic recession. Savannah's regional economy expanded at the fastest pace among the metro regions in the state. At $23.5 billion, Savannah's economic output (GDP) is the state's third largest, behind only Atlanta and Augusta. GDP ($ millions) Growth Rank MSA 2019 2020 2021 2020-2021 Change 1 Savannah $22,486 $21,551 $23,458 8.8% 2 Gainesville $11,484 $11,471 $12,475 8.8% 3 Atlanta-Sandy Springs $437,636 $419,447 $453,170 8.0% 4 Dalton $7,285 $7,104 $7,595 6.9% 5 Macon-Bibb County $11,114 $10,367 $10,982 5.9% 6 Athens-Clarke County $10,522 $10,091 $10,651 5.6% 7 Warner Robins $8,189 $8,077 $8,376 3.7% 8 Augusta-Richmond County $28,596 $28,048 $28,929 3.1% 9 Columbus $14,909 $14,835 $15,191 2.4% 10 Albany $5,933 $5,830 $5,916 1.5% Source: BEA.gov Table (CAGDP9). All data are in 2021 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. Economic activity generated by Savannah's private sector industries measured $22.6 billion in 2021 and accounted for 88% of the regional economy in 2021. Savannah's exceptionally high value-adding production in manufacturing represents approximately 17% 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 2021 dollars. "Wholesale Trade" and "Transportation and Utilities" are suppressed to avoid the disclosure of confidential information. GDP 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.