Somerset County Economic Development Commission
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Maryland Department of Commerce Releases Economic Data for 2022
January 25, 2024
 The U.S. Bureau of Economic Analysis   recently released economic activity data for every county in the nation, including each of Maryland’s 24 jurisdictions. The gross domestic product   (GDP) data recaps calendar year 2022 and measures the market value of goods and services produced in each county.


When measuring Maryland by GDP, the state’s most populated areas ranked highest, with Montgomery ranking first, followed by Baltimore, Anne Arundel, Baltimore City, and Prince George’s. These five jurisdictions make up more than 70 percent of the state’s GDP, totaling nearly $300 billion.


When looking at trends over the last three years, four counties on Maryland’s Eastern Shore demonstrated the most growth – Somerset, Cecil, Wicomico, and Caroline – as well as Baltimore City. Together, these jurisdictions grew more than 30 percent in 2022, with Somerset County representing half of that with 15.7 percent.


Back in September, the Bureau released revised GDP data showing that Maryland’s economy is growing faster than previously thought. The report stated that 12 of the state’s 20 high-level industry sectors experienced significant market growth, with four surpassing one billion dollars. The Information sector grew the most with a $3.9 billion increase; followed by the Real Estate, Rental, and Leasing industry with $2.7 billion; and the Professional, Scientific, and Technical Services sector with $2.4 billion. The Government sector ranked fourth with a $1.1 billion increase.

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