GMP

Definition

Gross Metropolitan Product - the market value of all goods and services produced in the region (2012 chained dollars)

Why is it Important?

The Gross Metropolitan Product (GMP) measures the total economic output of the St. Louis region. It is the broadest measure of economic activity, reflecting the total value of all goods and services produced in the region.¹ A healthy economy grows at a steady rate, which increases the circulation of money in the local economy and increases the likelihood for residents to prosper. However, like other economic indicators, GMP does not account for the social and environmental costs that may be associated with economic growth, and does not accurately reflect how changes in the economy affect the quality of life for residents. Therefore, it is important to analyze GMP alongside other indicators such as Income Inequality, Poverty, Air Quality, and Water Quality.

How are we Doing?

GMP in the St. Louis region increased from $145.8 billion in the baseline year 2010 to $156.9 billion in 2021 (in 2012 chained dollars.) In 2013, the GMP for the St. Louis region surpassed the pre-recession GMP of $147 billion (2008). After experiencing a decline in GMP of 2.5 percent from 2008 to 2009, the region experienced an 8.0 percent growth in GMP from 2009 to 2019 (an annual average of 0.8 percent). In 2019, GMP was $155.2 billion and then declined by 3.7 percent in 2020 during the COVID-19 pandemic. GMP for the region has rebounded and surpassed the prepandemic GMP, increasing by 5 percent from 2020 to 2021.

Nationally, GMP decreased by 2.6 percent from 2008 to 2009, increased by 25 percent from 2009 to 2019 (an annual average of 2.5 percent), and decreased by 2.8 percent from 2019 to 2020. As with the region, the national GMP has rebounded from the COVID-19 pandemic and increased by 5.9 percent from 2020 to 2021, again surpassing the 2019 GMP.

In 2021, the GMP per capita in the St. Louis region was $66,767.4 (in nominal dollars), ranking St. Louis as 33rd among the 50 peer metro regions. This is lower than the GMP per capita for the United States and lower than most other peer regions. On total GMP, the region ranks more favorably with the 24th largest economy, $188 billion. The 50 regions comprise 64 percent of GMP for the metropolitan portion of the United States. The St. Louis MSA alone comprises about 1 percent of the national GMP, and the largest metro economy, New York, comprises 8.5 percent of the national economy. 

Geographic Level

St. Louis Metropolitan Statistical Area (MSA). View map.

Notes

¹The Gross Metropolitan Product (GMP) is the market value of all goods and services produced in the region. GMP is the regional equivalent of the Gross Domestic Product (GDP), which measures the nation’s economy. The GMP is presented in chained dollars to remove the effects of inflation.

Data Sources

Bureau of Economic Analysis