GDP
Rhode Island's gross domestic product reached approximately $79 billion in 2023, ranking 45th among U.S. states.
Real GDP (chained 2017 dollars)
1997–2025BEA, chained 2017 dollars (FRED RIRGSP).
| Indicator | Rhode Island | U.S. |
|---|---|---|
| GDP (billions) | 79 | 27360 |
- •Despite being the smallest state, Rhode Island's GDP of $79 billion supports a diversified service economy.
GDP Growth
Rhode Island's economy has grown at a moderate pace in recent years, with regional inflation in the Northeast running at 3.2%, affecting real growth figures.
Real GDP growth
1998–2025Annual % change in BEA real GDP (RIRGSP).
| Indicator | Rhode Island | U.S. |
|---|---|---|
| Regional inflation (%) | 3.2 | 3 |
- •Northeast regional inflation of 3.2% has outpaced Rhode Island's nominal economic growth in some recent quarters.
Personal Income
Personal income per capita in Rhode Island reached $70,300, driven by strong healthcare, finance and insurance employment.
Per capita personal income
1970–2025BEA, current dollars (FRED RIPCPI).
| Indicator | Rhode Island | U.S. |
|---|---|---|
| Personal income per capita ($) | 70300 | 65423 |
- •Rhode Island's per-capita personal income of $70,300 reflects its concentration of healthcare and finance jobs.
Median Household Income
Rhode Island's median household income was $84,972 in 2023, above the national median and reflecting the state's service and healthcare-driven economy.
Median household income (CPS)
1984–2025Census CPS ASEC, current dollars (FRED MEHOINUSRIA646N).
| Indicator | Rhode Island | U.S. |
|---|---|---|
| Median household income ($) | 84972 | 77719 |
- •Rhode Island's median household income of $84,972 tops many neighboring Northeast states.
Poverty Rate
Rhode Island's poverty rate stands at 10.8%, close to the national average despite the state's relatively high median income.
Poverty rate, all ages (SAIPE)
1989–2024Census Small Area Income and Poverty Estimates (FRED PPAARI44000A156NCEN).
| Indicator | Rhode Island | U.S. |
|---|---|---|
| Poverty rate (%) | 10.8 | 11.5 |
- •Rhode Island's poverty rate of 10.8% coexists with a median household income above the national average.
Inflation
Regional inflation in the Northeast, which includes Rhode Island, ran at 3.2% in the latest measured period, affecting consumer prices statewide.
CPI inflation, U.S.
2007–2024BLS CPI-U U.S. city average, annual average change (CPIAUCNS).
CPI inflation, Northeast region
2007–2025BLS CPI-U all items, Northeast region, annual average change (CUUR0100SA0).
| Indicator | Rhode Island | U.S. |
|---|---|---|
| Regional inflation (%) | 3.2 | 3 |
- •Rhode Island's high cost-of-living index of 110.2 is compounded by regional inflation of 3.2%.
Economic Output
Rhode Island's GDP per capita reached $71,600 in 2023, reflecting a productive service-based economy despite the state's small overall size.
Nominal GDP (current dollars)
1997–2025BEA, current dollars (FRED RINGSP).
| Indicator | Rhode Island | U.S. |
|---|---|---|
| GDP per capita ($) | 71600 | 81695 |
- •Rhode Island's GDP per capita of $71,600 rivals that of much larger Northeast states.
Industry Breakdown
Rhode Island's economy relies heavily on healthcare and education, defense and naval industries, finance and insurance, and tourism.
Government jobs
1990–2025BLS Current Employment Statistics, annual average (FRED RIGOVT).
Manufacturing jobs
1990–2025BLS Current Employment Statistics, annual average (FRED RIMFG).
Construction jobs
1990–2025BLS Current Employment Statistics, annual average (FRED RICONS).
| Indicator | Rhode Island | U.S. |
|---|---|---|
| Healthcare/education share (qualitative) | 1 | 1 |
- •Rhode Island hosts major U.S. Navy operations in Newport, a key pillar of its defense-related economy.