Balanced, Diversified, & Growing
The Lehigh Valley’s gross domestic product (GDP) reached a record-high $41.2 billion* for 2018, growing by 2.7% from the previous year. *This figure excludes government spending, which adds 3.8 billion for a total of 45 billion.
The private sector input of Lehigh Valley GDP of $41.2 billion is higher than that of the entire states of Wyoming and Vermont, and if the Lehigh Valley were a country, it’s economy would be the 90th largest in the world.
The Lehigh Valley ranks 64th out of the 384 largest metropolitan statistical areas in the United States. In addition to consistent overall growth, the Lehigh Valley’s GDP grew in nearly every measurable sub-category from 2017 to 2018.
Manufacturing makes up $7.3 billion – or 17.7 percent – of the Lehigh Valley’s overall economic output. That’s a much higher percentage than its share of the national economy. Manufacturing is 12.8% of the U.S. economy, according to the BEA.
The Lehigh Valley is particularly noteworthy for its unusually balanced and multi-faceted economy. Far from depending on a single industry, the top four sub-sectors of the regional GDP are all extremely close to one another, which ultimately means a healthier and more vibrant regional economy. The Lehigh Valley has the most balanced and diversified economy in the entire state of Pennsylvania.