What is the gross domestic product (GDP) in ?

Refreshed annually
About $227 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 $227 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.

$227M

Real GDP (2024)

-4.4%

Change in real GDP (2023 to 2024)
Changes in spending and investment cause the GDP to fluctuate.
As of 2024, real GDP was $227M in Prince of Wales-Hyder Census Area. This was 4.4% higher than in 2023.

Real GDP decreased from 2023 to reach $227 million in 2024.

Real GDP in Prince of Wales-Hyder Census Area, AK, adjusted for inflation (chained 2017 dollars)

Which industry contributes the most to Prince of Wales-Hyder Census Area's GDP?

The GDP can also be broken down and compared across industries — useful, as different industries experience different economic pressures.
The government and government enterprises industry contributed the most to the GDP of Prince of Wales-Hyder Census Area in 2024, generating a value of $87.3 million. It was followed by real estate and rental and leasing ($32.2 million) and agriculture, forestry, fishing and hunting ($15.8 million).
The mining, quarrying, and oil and gas extraction industry grew the most, with a 2024 GDP that was 33.6 times the 2014 GDP.

In 2024, the government and government enterprises industry contributed the most to GDP in Prince of Wales-Hyder Census Area, AK.

Real gross domestic product by industry in Prince of Wales-Hyder Census Area, AK, chained 2017 dollars

What is Prince of Wales-Hyder Census Area'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 $39,567, down 4.9% from 2023.

In 2024, real GDP was equivalent to $39,600 per person.

Real gross domestic product per person in Prince of Wales-Hyder Census Area, AK, 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, Prince of Wales-Hyder Census Area's real (that is, inflation-adjusted) GDP per person was 27th highest out of Alaska's 30 boroughs or districts. Counties with a similar standard of living include Kenai Peninsula Borough (26th) and Bethel Census Area (28th).

In 2024, Prince of Wales-Hyder Census Area, AK was ranked 27 in Alaska for GDP per person.

Real gross domestic product per person in Alaska by county

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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.