Chowan County vs. North Carolina
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Chowan County vs. North Carolina
Chowan County:
2022 TPI = $711,004K
2022 Percent of State = 0.11%
North Carolina:
2022 TPI = $621,705,594K
2022 Percent of U.S. = 2.85%
The annual total personal incomes (TPI) estimates compiled by the Bureau of Economic Analysis, (BEA) are among the most comprehensive, consistent, comparable and timely measures of economic activity available statewide and at the national levels. Personal income estimates are also the best available local level indicator of general purchasing power, and are therefore central to tracking and comparing county patterns of economic growth and change.
The following graphs highlight trends in the pattern of growth and change in the total personal income of Chowan County and North Carolina with comparison to the nation. The data used are those compiled by the Regional Income and Product Divisions of the Bureau of Economic Analysis, U.S. Department of Commerce. The 2017 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Implicit Price Deflator for Personal Consumption.
Data Definition:
Personal income is the income received by persons from participation in production, plus transfer receipts from government and business, plus government interest (which is treated like a transfer receipt). It is defined as the sum of wages and salaries, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance. Because the personal income of an area represents the income that is received by, or on behalf of, all the persons who live in that area, and because the estimates of some components of personal income (wages and salaries, supplements to wages and salaries, and contributions for government social insurance) are made on a place-of-work basis, state personal income includes an adjustment for residence. The residence adjustment represents the net flow of compensation (less contributions for government social insurance) of interstate commuters.
Chowan County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Chowan County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Chowan County's annual total personal income over 1970-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Chowan County over time.
When measured in current dollars, Chowan County's total personal income increased 2,335.28%, from $29M in 1970 to $711M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 314.81%, from $148M in 1970 to $613M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Chowan County's and North Carolina's annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Chowan County's real total personal income rose from $146M in 1969 to $613M in 2022, for a net gain of $466M, or 318.77%. In comparison, North Carolina's real total personal income advanced from $83,981M in 1969 to $535,754M in 2022, for a net advance of $451,773M, or 537.95%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 portrays Chowan County's real total personal income growth in a broader context by offering direct comparisons across time with North Carolina, the United States. The growth indices shown here express each region's real total personal income in 1969 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total personal income growth between regions that may differ vastly in size.
Chowan County's overall real total personal income growth was 318.77% over 1969-2022 trailed North Carolina's increase of 537.95%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the North Carolina Total: 1969-2022
Total Personal Income as a Percent of the North Carolina Total: 1969-2022
Figure 4.
Another interesting and insightful way of highlighting the total personal income growth of Chowan County is to compare its individual percentage contributions to North Carolina's statewide total personal income over time, as shown in Figure 4. A rising share means a region's total personal income grew faster, or declined less, than North Carolina's total personal income, while a declining share shows it grew more slowly.
In 1969, Chowan County's total personal income comprised 0.17% of North Carolina's total personal income, while in 2022 it equated to 0.11% thereby yielding a -0.06% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.06%
=
0.11%
-
0.17%
 
   
Chowan County Real Total Personal Income:
Annual Percent Change, 1970-2022
Chowan County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Chowan County's real total personal income growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-year period is also traced on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.
On average, Chowan County's real total personal income grew at an annual rate of 2.81% over 1970-2022. The county recorded its highest growth in 1976 (13.54%) and recorded its lowest growth in 1982 (-4.71%). In 2022, Chowan County's real total personal income declined by -4.37%
Chowan County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Chowan County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 6.
Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again illustrates the annual percent change in Chowan County's real total personal income since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Chowan County's annual real total personal income growth rate averaged 4.62%. It averaged 3.79% in the 1980s, 3.08% during the 1990s, 1.76% throughout the 2000s, 0.76% in the 2010s, 2.91% thus far this decade (2020-2022).
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Real Total Personal Income Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Chowan County noted in the previous graph with the corresponding decade averages for North Carolina and the nation. As the chart reveals, Chowan County's average annual real total personal income growth exceeded North Carolina's average throughout the 1970s (4.62% vs. 4.09%), amounted to less than North Carolina's average throughout the 1980s (3.79% vs. 4.38%), fell below North Carolina's average in the 1990s (3.08% vs. 4.21%), recorded under North Carolina's average during the 2000s (1.76% vs. 2.86%), fell below North Carolina's average throughout the 2010s (0.76% vs. 2.44%), and trailed North Carolina's average over the 3 year period of the current decade, 2020-2022 (2.91% vs. 3.49%).
Finally, relative to nationwide real total personal income growth trends, Chowan County outgained the nation over the 1970s (4.62% vs. 3.50%), led the nation over the 1980s (3.79% vs. 3.16%), posted below the nation over the 1990s (3.08% vs. 3.27%), recorded underneath the nation throughout the 2000s (1.76% vs. 2.06%), lagged the nation in the 2010s (0.76% vs. 2.72%), and outgained the nation over 2020-2022 (2.91% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.81
4.62
3.79
3.08
1.76
0.76
2.91
-4.37
 
3.59
4.09
4.38
4.21
2.86
2.44
3.49
-2.53
 
2.89
3.50
3.16
3.27
2.06
2.72
2.10
-4.19
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Chowan County:
Total Personal Income, 1969-2022
 
1969
 
27,628
0.189
146,311
100.0
N
0.17
1970
 
29,196
0.198
147,708
101.0
0.95
0.17
1971
 
31,042
0.206
150,653
103.0
1.99
0.16
1972
 
35,057
0.213
164,525
112.4
9.21
0.16
1973
 
41,281
0.225
183,839
125.6
11.74
0.17
1974
 
45,427
0.248
183,225
125.2
-0.33
0.17
1975
 
48,638
0.269
181,080
123.8
-1.17
0.17
1976
 
58,253
0.283
205,601
140.5
13.54
0.18
1977
 
62,352
0.302
206,628
141.2
0.50
0.18
1978
 
71,183
0.323
220,545
150.7
6.74
0.18
1979
 
79,831
0.351
227,160
155.3
3.00
0.18
1980
 
88,227
0.389
226,641
154.9
-0.23
0.18
1981
 
101,480
0.424
239,255
163.5
5.57
0.18
1982
 
102,075
0.448
227,994
155.8
-4.71
0.17
1983
 
110,854
0.467
237,497
162.3
4.17
0.17
1984
 
125,083
0.484
258,228
176.5
8.73
0.17
1985
 
132,854
0.501
265,030
181.1
2.63
0.17
1986
 
147,727
0.512
288,422
197.1
8.83
0.17
1987
 
155,201
0.528
293,930
200.9
1.91
0.17
1988
 
174,387
0.549
317,847
217.2
8.14
0.17
1989
 
187,165
0.573
326,863
223.4
2.84
0.17
1990
 
202,399
0.598
338,601
231.4
3.59
0.17
1991
 
215,467
0.618
348,799
238.4
3.01
0.18
1992
 
224,402
0.634
353,835
241.8
1.44
0.17
1993
 
236,469
0.650
363,798
248.6
2.82
0.17
1994
 
253,419
0.664
381,908
261.0
4.98
0.17
1995
 
266,209
0.678
392,905
268.5
2.88
0.17
1996
 
283,715
0.692
409,975
280.2
4.34
0.16
1997
 
292,530
0.704
415,484
284.0
1.34
0.16
1998
 
311,044
0.710
438,294
299.6
5.49
0.16
1999
 
318,537
0.720
442,406
302.4
0.94
0.15
2000
 
341,667
0.738
462,825
316.3
4.62
0.15
2001
 
365,133
0.753
484,892
331.4
4.77
0.16
2002
 
354,878
0.763
465,164
317.9
-4.07
0.15
2003
 
368,018
0.779
472,460
322.9
1.57
0.15
2004
 
393,486
0.798
492,923
336.9
4.33
0.15
2005
 
423,769
0.821
515,992
352.7
4.68
0.15
2006
 
435,117
0.844
515,297
352.2
-0.13
0.14
2007
 
451,045
0.866
520,795
355.9
1.07
0.14
2008
 
459,098
0.892
514,857
351.9
-1.14
0.13
2009
 
466,582
0.889
524,715
358.6
1.91
0.14
2010
 
455,849
0.905
503,623
344.2
-4.02
0.13
2011
 
485,305
0.928
522,935
357.4
3.83
0.14
2012
 
501,346
0.945
530,334
362.5
1.41
0.13
2013
 
499,195
0.958
521,184
356.2
-1.73
0.13
2014
 
509,733
0.971
524,843
358.7
0.70
0.13
2015
 
511,286
0.973
525,479
359.2
0.12
0.12
2016
 
516,663
0.983
525,684
359.3
0.04
0.12
2017
 
545,339
1.000
545,339
372.7
3.74
0.12
2018
 
562,442
1.020
551,160
376.7
1.07
0.12
2019
 
584,191
1.035
564,365
385.7
2.40
0.12
2020
 
626,590
1.046
598,834
409.3
6.11
0.12
2021
 
698,348
1.090
640,680
437.9
6.99
0.12
2022
 
711,004
1.160
612,707
418.8
-4.37
0.11
Source: Calculations by the North Carolina Regional Economic Analysis Project (NC-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
North Carolina:
Total Personal Income, 1969-2022
 
1969
 
15,858,142
0.189
83,981,052
100.0
N
2.00
1970
 
17,320,423
0.198
87,627,355
104.3
4.34
2.02
1971
 
18,856,792
0.206
91,515,613
109.0
4.44
2.04
1972
 
21,319,016
0.213
100,051,699
119.1
9.33
2.10
1973
 
24,174,505
0.225
107,657,560
128.2
7.60
2.13
1974
 
26,653,856
0.248
107,505,570
128.0
-0.14
2.14
1975
 
28,942,763
0.269
107,754,144
128.3
0.23
2.12
1976
 
32,132,322
0.283
113,409,530
135.0
5.25
2.15
1977
 
35,208,099
0.302
116,675,832
138.9
2.88
2.13
1978
 
39,736,164
0.323
123,113,657
146.6
5.52
2.14
1979
 
43,906,810
0.351
124,937,569
148.8
1.48
2.12
1980
 
49,256,176
0.389
126,531,484
150.7
1.28
2.13
1981
 
55,448,399
0.424
130,728,278
155.7
3.32
2.14
1982
 
59,374,707
0.448
132,618,675
157.9
1.45
2.14
1983
 
64,651,777
0.467
138,511,820
164.9
4.44
2.18
1984
 
73,042,476
0.484
150,792,700
179.6
8.87
2.23
1985
 
78,975,578
0.501
157,547,834
187.6
4.48
2.25
1986
 
85,149,307
0.512
166,245,548
198.0
5.52
2.29
1987
 
91,578,629
0.528
173,437,803
206.5
4.33
2.33
1988
 
100,512,038
0.549
183,198,830
218.1
5.63
2.36
1989
 
109,591,488
0.573
191,389,406
227.9
4.47
2.38
1990
 
116,495,228
0.598
194,889,549
232.1
1.83
2.38
1991
 
121,968,505
0.618
197,443,107
235.1
1.31
2.40
1992
 
132,578,359
0.634
209,048,185
248.9
5.88
2.45
1993
 
141,327,215
0.650
217,426,485
258.9
4.01
2.50
1994
 
150,419,510
0.664
226,685,620
269.9
4.26
2.53
1995
 
161,278,515
0.678
238,035,415
283.4
5.01
2.57
1996
 
172,515,776
0.692
249,289,447
296.8
4.73
2.59
1997
 
185,209,372
0.704
263,055,338
313.2
5.52
2.62
1998
 
198,232,018
0.710
279,329,855
332.6
6.19
2.61
1999
 
207,943,047
0.720
288,805,776
343.9
3.39
2.61
2000
 
221,516,240
0.738
300,068,056
357.3
3.90
2.57
2001
 
228,090,893
0.753
302,901,507
360.7
0.94
2.54
2002
 
231,930,885
0.763
304,008,186
362.0
0.37
2.54
2003
 
241,805,079
0.779
310,428,376
369.6
2.11
2.55
2004
 
261,603,424
0.798
327,712,959
390.2
5.57
2.61
2005
 
280,391,837
0.821
341,412,492
406.5
4.18
2.66
2006
 
304,872,655
0.844
361,052,410
429.9
5.75
2.70
2007
 
327,886,485
0.866
378,591,205
450.8
4.86
2.75
2008
 
351,637,519
0.892
394,345,093
469.6
4.16
2.83
2009
 
339,441,454
0.889
381,733,734
454.5
-3.20
2.82
2010
 
343,104,305
0.905
379,062,140
451.4
-0.70
2.73
2011
 
355,001,632
0.928
382,528,374
455.5
0.91
2.67
2012
 
377,867,242
0.945
399,715,702
476.0
4.49
2.72
2013
 
373,140,586
0.958
389,576,833
463.9
-2.54
2.65
2014
 
393,886,051
0.971
405,562,186
482.9
4.10
2.67
2015
 
414,760,405
0.973
426,274,068
507.6
5.11
2.68
2016
 
429,054,929
0.983
436,546,059
519.8
2.41
2.70
2017
 
449,817,671
1.000
449,817,671
535.6
3.04
2.70
2018
 
473,093,266
1.020
463,603,306
552.0
3.06
2.70
2019
 
501,587,171
1.035
484,564,423
577.0
4.52
2.73
2020
 
541,077,960
1.046
517,109,915
615.7
6.72
2.76
2021
 
599,133,510
1.090
549,658,728
654.5
6.29
2.80
2022
 
621,705,594
1.160
535,754,500
637.9
-2.53
2.85
Source: Calculations by the North Carolina Regional Economic Analysis Project (NC-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
United States:
Total Personal Income, 1969-2022
 
1969
 
791,229,000
0.189
4,190,165,758
100.0
N
1970
 
855,525,000
0.198
4,328,265,709
103.3
3.30
1971
 
924,613,000
0.206
4,487,323,465
107.1
3.67
1972
 
1,016,408,000
0.213
4,770,076,966
113.8
6.30
1973
 
1,133,468,000
0.225
5,047,731,018
120.5
5.82
1974
 
1,244,912,000
0.248
5,021,223,733
119.8
-0.53
1975
 
1,362,505,000
0.269
5,072,617,275
121.1
1.02
1976
 
1,495,704,000
0.283
5,279,017,400
126.0
4.07
1977
 
1,651,632,000
0.302
5,473,329,799
130.6
3.68
1978
 
1,855,849,000
0.323
5,749,934,936
137.2
5.05
1979
 
2,073,296,000
0.351
5,899,598,782
140.8
2.60
1980
 
2,313,972,000
0.389
5,944,235,512
141.9
0.76
1981
 
2,590,995,000
0.424
6,108,676,176
145.8
2.77
1982
 
2,777,640,000
0.448
6,204,105,336
148.1
1.56
1983
 
2,969,333,000
0.467
6,361,584,112
151.8
2.54
1984
 
3,275,415,000
0.484
6,761,937,695
161.4
6.29
1985
 
3,508,482,000
0.501
6,999,046,441
167.0
3.51
1986
 
3,717,756,000
0.512
7,258,548,586
173.2
3.71
1987
 
3,931,800,000
0.528
7,446,308,852
177.7
2.59
1988
 
4,264,433,000
0.549
7,772,592,728
185.5
4.38
1989
 
4,605,107,000
0.573
8,042,309,775
191.9
3.47
1990
 
4,897,332,000
0.598
8,192,943,538
195.5
1.87
1991
 
5,072,291,000
0.618
8,211,045,100
196.0
0.22
1992
 
5,406,546,000
0.634
8,524,985,809
203.5
3.82
1993
 
5,643,648,000
0.650
8,682,535,385
207.2
1.85
1994
 
5,933,938,000
0.664
8,942,579,420
213.4
3.00
1995
 
6,278,125,000
0.678
9,266,058,093
221.1
3.62
1996
 
6,660,854,000
0.692
9,625,094,288
229.7
3.87
1997
 
7,068,422,000
0.704
10,039,373,926
239.6
4.30
1998
 
7,584,003,000
0.710
10,686,661,406
255.0
6.45
1999
 
7,978,449,000
0.720
11,081,025,264
264.5
3.69
2000
 
8,620,234,000
0.738
11,677,052,911
278.7
5.38
2001
 
8,990,104,000
0.753
11,938,732,039
284.9
2.24
2002
 
9,146,700,000
0.763
11,989,225,466
286.1
0.42
2003
 
9,474,684,000
0.779
12,163,560,736
290.3
1.45
2004
 
10,008,929,000
0.798
12,538,275,270
299.2
3.08
2005
 
10,540,800,000
0.821
12,834,755,927
306.3
2.36
2006
 
11,291,446,000
0.844
13,372,153,008
319.1
4.19
2007
 
11,925,044,000
0.866
13,769,145,681
328.6
2.97
2008
 
12,423,410,000
0.892
13,932,275,429
332.5
1.18
2009
 
12,058,253,000
0.889
13,560,635,845
323.6
-2.67
2010
 
12,547,501,000
0.905
13,862,497,514
330.8
2.23
2011
 
13,299,818,000
0.928
14,331,082,712
342.0
3.38
2012
 
13,905,749,000
0.945
14,709,785,897
351.1
2.64
2013
 
14,063,283,000
0.958
14,682,748,144
350.4
-0.18
2014
 
14,778,160,000
0.971
15,216,235,418
363.1
3.63
2015
 
15,467,113,000
0.973
15,896,476,839
379.4
4.47
2016
 
15,884,741,000
0.983
16,162,082,333
385.7
1.67
2017
 
16,658,962,000
1.000
16,658,962,000
397.6
3.07
2018
 
17,514,402,000
1.020
17,163,073,878
409.6
3.03
2019
 
18,343,601,000
1.035
17,721,060,157
422.9
3.25
2020
 
19,609,985,000
1.046
18,741,324,605
447.3
5.76
2021
 
21,392,812,000
1.090
19,626,252,970
468.4
4.72
2022
 
21,820,248,000
1.160
18,803,588,325
448.8
-4.19
Source: Calculations by the North Carolina Regional Economic Analysis Project (NC-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_300_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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