The U.S. Bureau of Economic Analysis (BEA) estimates Houston’s gross domestic product (GDP) at $490.1 billion in ’17, ranking it as the nation’s seventh largest metro economy.
Metro Houston’s GDP declined 6.9 percent from $507.2 billion in ’14 (10-year peak) to $472.3 billion in ’16 but increased 3.8 percent from ’16 to ’17.
The Houston region has a gross domestic product greater than 36 states and accounted for 28.9 percent of Texas’ GDP.
If Houston were an independent nation, the region would have the 26th largest economy in the world, placing it behind Belgium ($494.7 billion) and ahead of Thailand ($455.4 billion).
While subject to revision, Houston’s GDP related to construction declined 4.1 percent whereas mining and oil and gas extraction increased 7.2 percent compared to ’16.
Patrick Jankowski, CERP
Senior Vice President, Research
Metro Houston's GDP in '17