When it comes to the economy, Whatcom ranks high in the state despite a sluggish 2018
The pace at which Whatcom County businesses manufacture things slowed in 2018, according to a new federal report.
Whatcom County’s gross domestic product was estimated at a little over $13.5 billion in 2018, according to the most recent data from the Bureau of Economic Analysis. That’s a 1.6% increase compared to 2017, but slower than the year-over-year U.S. average increase of 2.9%.
Whatcom’s GDP can swing dramatically from year to year, largely depending on oil prices and refining. Whatcom’s GDP year-over-year totals rose 9.1% in 2017 and 6.1% in 2016.
In the non-durable goods category, which includes the two refineries and an aluminum smelter at Cherry Point, Whatcom County’s GDP increased 6.5% to nearly $2.6 billion, the second-highest county total in the state behind King County.
Several Whatcom County industries experienced significant growth in 2018. The information sector, which includes computer software, increased 11.7% to $687.4 million. Construction rose 5.4% to $654 million and finance rose 3.6% to $2.1 billion.
The one major sector that posted a significant loss in Whatcom County between 2017 and 2018 was retail trade, which includes retail sales. The government estimates retail trade dropped 9.6% to $2.25 billion.
Other major industries that were either flat or saw small growth include real estate ($1.87 billion), government ($1.37 billion), health care ($801 million) and professional services ($756 million).
Whatcom’s overall GDP ranked sixth among Washington’s 39 counties in 2018. At nearly $7.5 billion, Skagit County ranked 11th highest in the state. At $277.1 billion, King County’s GDP dwarfs all the other counties, accounting for more than half the state’s total.
