What is the gross domestic product (GDP) in Iosco County, MI?
Refreshed annually
About $973.9 million in 2024. Gross domestic product (GDP) measures the value of goods and services a country, state, or county produces — it's the sum of consumer spending, business investment, government spending, and net exports. It is often used to quantify the size of an economy. The $973.9 million is the "real GDP," which is adjusted to account for inflation to make it easier to compare the size of an economy over time.
$974M
Real GDP (2024)
-0.84%
Change in real GDP (2023 to 2024)
Changes in spending and investment cause the GDP to fluctuate.
As of 2024, real GDP was $973.9 million in Iosco County. This was 0.84% lower than in 2023.
Real GDP decreased from 2023 to reach $973.9 million in 2024.
Real GDP in Iosco County, MI, adjusted for inflation (chained 2017 dollars)
Which industry contributes the most to Iosco County's GDP?
The GDP can also be broken down and compared across industries — useful, as different industries experience different economic pressures.
The transportation and warehousing industry contributed the most to the GDP of Iosco County in 2024, generating a value of $190 million. It was followed by manufacturing ($157.9 million) and government and government enterprises ($118.9 million).
The transportation and warehousing industry grew the most, with a 2024 GDP that was 2.6 times the 2014 GDP.
In 2024, the transportation and warehousing industry contributed the most to GDP in Iosco County, MI.
Real gross domestic product by industry in Iosco County, MI, chained 2017 dollars
What is Iosco County's GDP per person?
Another way to understand a population's standard of living is by taking the GDP and dividing it by the total number of people in the population. This figure offers insight into the average economic output per individual. When the GDP per person goes up, it suggests that individuals are becoming wealthier and/or resources are being used more efficiently. This helps economists understand whether economic growth is outpacing population growth.
In 2024, GDP per person was $38,305, down 0.92% from 2023.
In 2024, real GDP was equivalent to $38,300 per person.
Real gross domestic product per person in Iosco County, MI, chained 2017 dollars
GDP and the economic experience vary by location due to factors like cost of living, population density, workforce education, and the leading industries in the area.
In 2024, Iosco County's real (that is, inflation-adjusted) GDP per person was 32nd highest out of Michigan's 83 counties. Counties with a similar standard of living include Isabella County (31st) and Leelanau County (33rd).
In 2024, Iosco County, MI was ranked 32 in Michigan for GDP per person.
Real gross domestic product per person in Michigan by county
Keep exploring
Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
