Data Report: The Gross Domestic Product of the Rio Grande Valley

MCALLEN, Texas - Our data analysis partners, Allied Consulting Group, has produced a report on Gross Domestic Product in the Rio Grande Valley.

GDP, or Gross Domestic Product, is a measure of a country, state, county or city’s economic output. It's the total value of all goods and services produced within a country over a specific period of time. GDP is the most common way to measure the size of an economy. 

Here is the data:

Insights from the Real Gross Domestic Product (GDP) Dataset (2020–2023):

1. United States and Texas GDP Growth

• United States:

  • GDP grew from $20.27 trillion in 2020 to $22.67 trillion in 2023.
  • Average annual growth rate over the period was 4.1%, with the highest growth of 6.1% in 2021.

• Texas:

  • GDP increased from $1.77 trillion in 2020 to $2.10 trillion in 2023, reflecting robust growth.
  • Growth in 2023 was 7.4%, higher than the national average of 2.9%, showcasing Texas's strong economic performance.

2. Cameron County

• GDP rose from $10.95 billion in 2020 to $12.54 billion in 2023.
• Growth Rates:

  • 2021: 6.9%, higher than the state average of 5.9%.
  • 2022: 5.2%, slightly above the state average of 3.9%.
  • 2023: 1.9%, significantly below Texas's 7.4%.

• State Rank in 2023:

  • 23rd largest economy in Texas.

3. Hidalgo County

• GDP increased from $21.53 billion in 2020 to $23.99 billion in 2023, maintaining its position as one of Texas's larger economies.
• Growth Rates:

  • 2021: 5.4%, slightly below the state average.
  • 2022: 1.9%, indicating a slowdown.
  • 2023: 3.8%, recovering but still below the state average.

• State Rank in 2023:

  • Ranked 13th in Texas, reflecting its significance in the regional economy.

4. Starr County

• GDP showed stagnation, with minor fluctuations from $1.30 billion in 2020 to $1.30 billion in 2023.
• Growth Rates:

  • 2021: Negative growth at -0.9%, contrasting with positive trends in other counties.
  • 2022: A marginal decline of -0.2%.
  • 2023: A modest rebound of 0.9%.

• State Rank in 2023:

  • Ranked 120th, indicating a relatively small economic footprint in Texas.

5. Willacy County

• GDP saw a notable rise from $449 million in 2020 to $567 million in 2023.
• Growth Rates:

  • 2021: 23.6%, an exceptional growth year.
  • 2022: 0.3%, showing stabilization after the 2021 surge.
  • 2023: 1.9%, similar to Cameron County but below the state average.

• State Rank in 2023:

  • Ranked 168th, indicating a small but growing economy.

6. Comparison of Regional Counties (2023 Growth Rates)

• Fastest Growth: Hidalgo County at 3.8%, reflecting moderate economic recovery.
• Slowest Growth: Starr County at 0.9%, showing stagnation.
• Consistency: Cameron and Willacy Counties grew by 1.9%, below the state average but maintaining positive momentum.

7. Economic Contribution to Texas

• Hidalgo County contributes the most among these counties, with a GDP of $23.99 billion (1.14% of Texas GDP in 2023).
• Cameron County follows with $12.54 billion (0.6% of Texas GDP).
• Starr and Willacy counties combined contribute less than 0.1%, highlighting their smaller economic scales.