The San Antonio metropolitan economy saw the fourth-highest rate of growth among the 100 largest US metros between 2011 and 2016 according to an analysis of recently released economic data conducted by SpareFoot.
In 2011 the San Antonio-New Braunfels, TX Metropolitan Statistical area generated a gross domestic product of $83 billion dollars. In 2016, the San Antonio area’s GDP had grown to $109 billion, an increase of 30 percent in 5 years. Among the 100 largest metros in the country, only the San Jose, Austin, and Provo MSA economies grew faster, at rates of 37 percent, 35 percent, and 32 percent, respectively.
The analysis was based on data released last month by the Bureau of Economic Analysis.
San Antonio is the 24th largest metro by population and the 34th largest for GDP. In 2016 the metro economy grew by 3.1 percent. Though this is higher than the national average, it’s not nearly as high a rate of growth as San Antonio experienced in the previous 4 years. San Antonio’s highest performing year was 2014, when the metro grew by an astounding 7.2 percent.
According to the BEA data, San Antonio’s 2016 growth was driven primarily by the finance, insurance, and real estate and durable goods manufacturing sectors, which themselves grew the cumulative GDP by .79% and .75%, respectively. The professional and business services, education, and information technology sectors also made strong contributions to San Antonio’s growth. Only natural resources and mining saw a year-over-year decline.