What is a top economic industry within Virginia?
What is a top economic industry within Virginia?
The service sector is the biggest industry in the economy of Virginia, which accounts for over 66.67% of the state’s GDP. The public sector (local, state, and federal government), social and health services, and retail and wholesale trade account for a considerable portion of employment in the state.
Is Virginia rich or poor?
Median household income: $76,456 Virginia is home to five of the wealthiest counties (Arlington, Fairfax and Loudoun) and independent cities (Fairfax and Falls Church) in the country by median household income, based on 2015-2019 data from the U.S. Census Bureau.
How is Virginia’s economy doing?
Overview of the Virginia Economy The state of Virginia has a population of 8,535,519 and annual population growth of 0.5% over the five years to 2019 which ranks 20 out of all 50 US states. Virginia’s gross state product (GSP) in 2019 reached $486.0bn, with growth of 1.7% over the 5-years to 2019.
Does Virginia have a good economy?
The economy of the Commonwealth of Virginia is well balanced with diverse sources of income. Loudoun and Fairfax counties in Northern Virginia have the highest and second highest median household income, respectively, of all counties in the United States as of 2017. …
What is Virginia’s biggest export?
The state’s largest manufacturing export category is chemicals, which accounted for $2.6 billion of Virginia’s total goods exports in 2018….Agriculture in Virginia depends on Exports.
| 2017 Value | 2017 State Rank | |
|---|---|---|
| broiler meat | $91 million | 12 |
| tobacco | $80 million | 3 |
What kind of economy does Virginia have?
Virginia economy is a set of human and social activities and institutions related to the production, distribution, exchange and consumption of agriculture and industry goods and services.
Is Virginia a good state?
“Virginia is proving that when you treat people right, it’s good for everyone and it’s also good for business.” CNBC uses a formula for rating states, starting with 10 broad categories of competitiveness, such as cost of doing business, infrastructure and life, health and inclusion.
What are Virginia’s main exports?
Coal (non-agglomerated,bituminous): US$2 billion (11.2% of Virginia’s total exports)
