Gross Domestic Product
This chapter identifies Gross Domestic Product totals for counties and industries. Industries that lead in employment do not necessarily lead in Gross Domestic Product.
Gross Domestic Product
Chester County led its regional peers in GDP growth.
Gross Domestic Product (GDP) measures the estimated value of goods and services produced in an area. Real Gross Domestic Product is an inflation adjusted GDP. Chester County's Real Gross Domestic Product grew six percent over the last five years, growing from $446 billion in 2018 to $48.6 billion in 2023. Chester County outpaced the rate of growth of all the other Southeastern Pennsylvania counties except Montgomery and Philadelphia. Philadelphia and Montgomery counties' Gross Domestic Product remained higher than Chester County's, mainly due to their significantly larger populations.
Figure 34 — Real Gross Domestic Product
Gross Domestic Product by Industry
In addition to employment and wages, the impact of an industry can be measured by Gross Domestic Product. Some industries have an exceptionally strong impact on Gross Domestic Product in relation to their number of jobs.
Figure 35 — Real Gross Domestic Product by Major Industry
County vs. National Trends
Local factors in Chester County caused GDP growth in information, finance, and utilities.
The Real Gross Domestic Product of the county's arts, entertainment, and recreation sector, as well as the information sectors saw the greatest increases due to local factors. Agriculture, forestry, and fishing; retail trade; finance and insurance; utilities; wholesale trade; and real estate and rental and leasing all showed significant indications of decline due to local factors.
Figure 36 — Real Gross Domestic Product Shift Share Analysis
