Today, Gov. John Bel Edwards released the following statement on Louisiana’s continued Gross Domestic Product (GDP) growth of $255.5 billion, the highest on record, as released by the Bureau of Economic Analysis (BEA). Between 2016 and 2018, Louisiana grew at a compound annual growth rate of 5.1%, the 11th highest rate among states, outpacing the US rate of 4.7%

“This latest news marks nine consecutive quarters of GDP growth in Louisiana including increases across many different business sectors and is indicative of the strength of our people and our economy,” said Gov. Edwards. “Businesses are opening and expanding and our workforce is developing and improving each day. We know there is still more work to do but as evidenced by this report, we are on track and headed in the right direction.”    

Key points from the BEA report:

  • Louisiana GDP for 2018 Q4 is $255.5 billion (highest on record)
  • Louisiana GDP for 2018 Q4 increased by $1.85 billion from 2018Q3
  • Louisiana grew by 1.3% in 2018 Q4
  • Mining, quarrying, and oil and gas extraction was the main driver, contributing 1.17%
  • Real estate and rental and leasing contributed 0.43%
  • Health care and social assistance contributed 0.22%
  • Wholesale trade contributed 0.22%
  • Information contributed 0.20%
  • Professional, scientific, and technical services contributed 0.18%