Out of all Metropolitan Areas in the US, the Texarkana Metropolitan Area is ranked 301 for Current-Dollar Gross Domestic Product (GDP) by Metropolitan Area and ranked 367 for Real Gross Domestic Product (GDP) by Metropolitan Area.
The economic growth last year slowed for the Texarkana Area according to new data from the U.S. Bureau of Economic Analysis.
The Gross Domestic Product for the Texarkana Metropolitan Area (Texarkana, Texas and Texarkana, Arkansas combined) declined from $4.896 billion in 2012 to $4.765 billion in 2013. That is a decrease of 2.7 percent. These figures are adjusted for inflation.
“Real GDP increased in 292 of the nation’s 381 metropolitan areas in 2013, led by widespread growth in finance, insurance, real estate, rental, and leasing, nondurable-goods manufacturing, and professional and business services, according to new statistics released today by the U.S. Bureau of Economic Analysis. Natural resources and mining also spurred strong growth in several metropolitan areas. Collectively, real GDP for U.S. metropolitan areas increased 1.7 percent in 2013 after increasing 2.6 percent in 2012,” stated the press release of the Bureau of Economic Analysis.
Out of 25 metropolitan areas in Texas, the Texarkana Area ranked last.
Information provided by Bureau of Economic Analysis – US Department of Commerce. – The information can be found here.