Chowan County vs. North Carolina
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2020
Introduction
Chowan County vs. North Carolina
Chowan County:
2020 TPI = $627,029K
2020 Percent of State = 0.1%
North Carolina:
2020 TPI = $533,269,337K
2020 Percent of U.S. = 2.7%
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 2012 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, 1970-2020
Current vs. Constant Dollars (Millions)
Chowan County Total Personal Income, 1970-2020
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Chowan County's annual total personal income over 1970-2020 in current and constant (2012) 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 2,047.7%, from $29M in 1970 to $627M in 2020. When measured in constant 2012 dollars to adjust for inflation, it advanced 303.8%, from $140M in 1970 to $564M in 2020.
Real Total Personal Income, 1969-2020 (Millions)
Real Total Personal Income, 1969-2020 (Millions)
Figure 2.
Figure 2 traces Chowan County's and North Carolina's annual real total personal income for the period 1969-2020 to illustrate real total personal income patterns over time. During this 52-year period, Chowan County's real total personal income rose from $138M in 1969 to $564M in 2020, for a net gain of $425M, or 307.6%. In comparison, North Carolina's real total personal income increased from $79,386M in 1969 to $479,451M in 2020, for a net gain of $400,065M, or 503.9%.
Real Total Personal Income Indices (1969=100): 1969-2020
Real Total Personal Income Indices (1969=100): 1969-2020
Figure 3.
Figure 3 shows 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 307.6% over 1969-2020 trailed North Carolina's increase of 503.9%, and fell below the United States' increase of 345.1%.
Total Personal Income as a Percent of the North Carolina Total: 1969-2020
Total Personal Income as a Percent of the North Carolina Total: 1969-2020
Figure 4.
Another interesting and insightful way of comparing the total personal income growth of Chowan County is to trace 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 totaled 0.17% of North Carolina's total personal income, while in 2020 it equated to 0.12% thereby yielding a -0.06% share-shift.
   
 
Total Personal Income Share-Shift
2020 vs. 1969
 
Share-
Shift*
 
2020
vs.
1969
-0.06%
=
0.12%
-
0.17%
 
   
Chowan County Real Total Personal Income:
Annual Percent Change, 1970-2020
Chowan County Real Total Personal Income:
Annual Percent Change, 1970-2020
Figure 5.
Figure 5 highlights the short-run pattern of Chowan County's real total personal income growth by tracking the year-to-year percent change over 1970-2020. The average annual percent change for the entire 51-year period is also illustrated 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 2.86% over 1970-2020. The county posted its highest growth in 1976 (13.54%) and posted its lowest growth in 1982 (-4.71%). In 2020, Chowan County's real total personal income grew by 5.08%
Chowan County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2020
Chowan County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2020
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 overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, and 2020.
During the 1970s, Chowan County's annual real total personal income growth rate averaged 4.62%. It averaged 3.80% during the 1980s, 3.07% during the 1990s, 1.74% throughout the 2000s, 0.84% during the 2010s, and 5.08% in 2020.
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 registered above North Carolina's average throughout the 1970s (4.62% vs. 4.09%), recorded under North Carolina's average in the 1980s (3.80% vs. 4.39%), amounted to less than North Carolina's average in the 1990s (3.07% vs. 4.24%), posted below North Carolina's average in the 2000s (1.74% vs. 2.84%), and lagged North Carolina's average over the 10 year period of the last decade, 2010-2019 (0.84% vs. 2.37%). In 2020, Chowan County's growth has amounted to less than North Carolina's average (5.08% vs. 5.30%).
Finally, relative to nationwide real total personal income growth trends, Chowan County outpaced the nation over the 1970s (4.62% vs. 3.50%), recorded above the nation throughout the 1980s (3.80% vs. 3.17%), trailed the nation in the 1990s (3.07% vs. 3.30%), posted below the nation over the 2000s (1.74% vs. 2.04%), and posted below the nation over 2010-2019 (0.84% vs. 2.70%). In 2020, growth for Chowan County has recorded under the national average (5.08% vs. 5.30%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
2.86
4.62
3.80
3.07
1.74
0.84
5.08
 
3.62
4.09
4.39
4.24
2.84
2.37
5.30
 
2.99
3.50
3.17
3.30
2.04
2.70
5.30
 
   

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, 1969-2020
 
1969
 
27,628
0.200
138,306
100.0
N
0.17
1970
 
29,196
0.209
139,627
101.0
0.96
0.17
1971
 
31,042
0.218
142,408
103.0
1.99
0.16
1972
 
35,057
0.225
155,519
112.4
9.21
0.16
1973
 
41,281
0.238
173,771
125.6
11.74
0.17
1974
 
45,427
0.262
173,194
125.2
-0.33
0.17
1975
 
48,638
0.284
171,170
123.8
-1.17
0.17
1976
 
58,253
0.300
194,345
140.5
13.54
0.18
1977
 
62,352
0.319
195,320
141.2
0.50
0.18
1978
 
71,183
0.341
208,473
150.7
6.73
0.18
1979
 
79,833
0.372
214,732
155.3
3.00
0.18
1980
 
88,205
0.412
214,183
154.9
-0.26
0.18
1981
 
101,591
0.449
226,407
163.7
5.71
0.18
1982
 
102,178
0.474
215,734
156.0
-4.71
0.17
1983
 
110,829
0.494
224,450
162.3
4.04
0.17
1984
 
125,235
0.512
244,394
176.7
8.89
0.17
1985
 
132,935
0.530
250,674
181.2
2.57
0.17
1986
 
147,805
0.542
272,783
197.2
8.82
0.17
1987
 
155,814
0.559
278,962
201.7
2.26
0.17
1988
 
174,541
0.580
300,736
217.4
7.81
0.17
1989
 
187,389
0.606
309,366
223.7
2.87
0.17
1990
 
202,475
0.632
320,215
231.5
3.51
0.17
1991
 
215,313
0.653
329,502
238.2
2.90
0.18
1992
 
224,612
0.671
334,807
242.1
1.61
0.17
1993
 
236,719
0.688
344,278
248.9
2.83
0.17
1994
 
253,757
0.702
361,513
261.4
5.01
0.17
1995
 
266,675
0.717
372,082
269.0
2.92
0.17
1996
 
284,326
0.732
388,402
280.8
4.39
0.16
1997
 
292,894
0.745
393,262
284.3
1.25
0.16
1998
 
310,582
0.751
413,723
299.1
5.20
0.16
1999
 
318,446
0.762
418,106
302.3
1.06
0.15
2000
 
342,331
0.781
438,380
317.0
4.85
0.15
2001
 
366,649
0.797
460,290
332.8
5.00
0.16
2002
 
355,632
0.807
440,673
318.6
-4.26
0.15
2003
 
369,096
0.824
447,943
323.9
1.65
0.15
2004
 
395,351
0.844
468,187
338.5
4.52
0.15
2005
 
426,675
0.869
491,131
355.1
4.90
0.15
2006
 
438,336
0.893
490,737
354.8
-0.08
0.14
2007
 
454,632
0.916
496,247
358.8
1.12
0.14
2008
 
462,355
0.943
490,172
354.4
-1.22
0.13
2009
 
465,429
0.941
494,811
357.8
0.95
0.14
2010
 
456,489
0.957
476,766
344.7
-3.65
0.13
2011
 
486,746
0.982
495,819
358.5
4.00
0.14
2012
 
503,692
1.000
503,692
364.2
1.59
0.13
2013
 
502,576
1.014
495,862
358.5
-1.55
0.13
2014
 
509,903
1.029
495,595
358.3
-0.05
0.13
2015
 
513,865
1.031
498,337
360.3
0.55
0.12
2016
 
518,464
1.041
497,815
359.9
-0.10
0.12
2017
 
549,479
1.061
518,127
374.6
4.08
0.12
2018
 
565,324
1.083
521,911
377.4
0.73
0.12
2019
 
589,753
1.099
536,520
387.9
2.80
0.12
2020
 
627,029
1.112
563,748
407.6
5.08
0.12
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 2021
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, 1969-2020
 
1969
 
15,858,142
0.200
79,385,973
100.0
N
2.00
1970
 
17,320,423
0.209
82,833,204
104.3
4.34
2.02
1971
 
18,856,792
0.218
86,506,982
109.0
4.44
2.04
1972
 
21,319,016
0.225
94,574,643
119.1
9.33
2.10
1973
 
24,174,505
0.238
101,761,681
128.2
7.60
2.13
1974
 
26,653,856
0.262
101,619,795
128.0
-0.14
2.14
1975
 
28,942,763
0.284
101,857,339
128.3
0.23
2.12
1976
 
32,132,322
0.300
107,200,647
135.0
5.25
2.15
1977
 
35,208,099
0.319
110,290,696
138.9
2.88
2.13
1978
 
39,736,164
0.341
116,374,766
146.6
5.52
2.14
1979
 
43,908,313
0.372
118,102,945
148.8
1.49
2.12
1980
 
49,246,957
0.412
119,583,694
150.6
1.25
2.13
1981
 
55,496,710
0.449
123,680,573
155.8
3.43
2.14
1982
 
59,420,072
0.474
125,456,732
158.0
1.44
2.14
1983
 
64,644,452
0.494
130,917,518
164.9
4.35
2.18
1984
 
73,126,172
0.512
142,704,705
179.8
9.00
2.23
1985
 
79,020,157
0.530
149,007,481
187.7
4.42
2.25
1986
 
85,194,512
0.542
157,231,862
198.1
5.52
2.29
1987
 
91,884,496
0.559
164,505,409
207.2
4.63
2.33
1988
 
100,589,475
0.580
173,316,577
218.3
5.36
2.36
1989
 
109,693,130
0.606
181,095,440
228.1
4.49
2.38
1990
 
116,522,487
0.632
184,280,633
232.1
1.76
2.38
1991
 
121,893,315
0.653
186,538,090
235.0
1.23
2.41
1992
 
132,674,908
0.671
197,765,451
249.1
6.02
2.45
1993
 
141,458,338
0.688
205,733,643
259.2
4.03
2.50
1994
 
150,582,582
0.702
214,526,494
270.2
4.27
2.54
1995
 
161,486,709
0.717
225,316,668
283.8
5.03
2.57
1996
 
172,816,700
0.732
236,075,488
297.4
4.77
2.59
1997
 
185,687,858
0.745
249,319,071
314.1
5.61
2.62
1998
 
198,667,149
0.751
264,642,532
333.4
6.15
2.61
1999
 
208,586,318
0.762
273,864,710
345.0
3.48
2.61
2000
 
222,325,779
0.781
284,704,545
358.6
3.96
2.57
2001
 
228,555,910
0.797
286,928,681
361.4
0.78
2.54
2002
 
231,900,307
0.807
287,353,854
362.0
0.15
2.53
2003
 
241,851,137
0.824
293,515,786
369.7
2.14
2.55
2004
 
262,024,320
0.844
310,297,266
390.9
5.72
2.61
2005
 
281,572,128
0.869
324,108,071
408.3
4.45
2.66
2006
 
306,618,081
0.893
343,272,745
432.4
5.91
2.70
2007
 
330,170,299
0.916
360,392,843
454.0
4.99
2.75
2008
 
352,222,250
0.943
373,413,464
470.4
3.61
2.82
2009
 
339,555,620
0.941
360,991,282
454.7
-3.33
2.81
2010
 
343,348,333
0.957
358,599,573
451.7
-0.66
2.73
2011
 
355,826,622
0.982
362,459,633
456.6
1.08
2.67
2012
 
380,160,568
1.000
380,160,568
478.9
4.88
2.71
2013
 
376,392,383
1.014
371,364,113
467.8
-2.31
2.65
2014
 
398,099,522
1.029
386,928,885
487.4
4.19
2.66
2015
 
419,334,270
1.031
406,662,661
512.3
5.10
2.67
2016
 
432,626,193
1.041
415,395,584
523.3
2.15
2.69
2017
 
453,097,701
1.061
427,245,100
538.2
2.85
2.69
2018
 
475,483,336
1.083
438,969,826
553.0
2.74
2.69
2019
 
500,496,856
1.099
455,320,005
573.6
3.72
2.72
2020
 
533,269,337
1.112
479,450,966
603.9
5.30
2.72
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 2021
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, 1969-2020
 
1969
 
791,229,000
0.200
3,960,898,078
100.0
N
1970
 
855,525,000
0.209
4,091,463,415
103.3
3.30
1971
 
924,613,000
0.218
4,241,733,187
107.1
3.67
1972
 
1,016,408,000
0.225
4,508,952,178
113.8
6.30
1973
 
1,133,468,000
0.238
4,771,291,463
120.5
5.82
1974
 
1,244,912,000
0.262
4,746,318,960
119.8
-0.52
1975
 
1,362,505,000
0.284
4,795,020,236
121.1
1.03
1976
 
1,495,704,000
0.300
4,990,004,671
126.0
4.07
1977
 
1,651,632,000
0.319
5,173,799,455
130.6
3.68
1978
 
1,855,849,000
0.341
5,435,199,883
137.2
5.05
1979
 
2,073,257,000
0.372
5,576,569,477
140.8
2.60
1980
 
2,313,160,000
0.412
5,616,920,014
141.8
0.72
1981
 
2,592,915,000
0.449
5,778,598,650
145.9
2.88
1982
 
2,779,794,000
0.474
5,869,125,689
148.2
1.57
1983
 
2,968,676,000
0.494
6,012,143,060
151.8
2.44
1984
 
3,279,488,000
0.512
6,399,875,105
161.6
6.45
1985
 
3,510,471,000
0.530
6,619,658,313
167.1
3.43
1986
 
3,719,647,000
0.542
6,864,843,865
173.3
3.70
1987
 
3,946,593,000
0.559
7,065,782,831
178.4
2.93
1988
 
4,267,813,000
0.580
7,353,480,478
185.7
4.07
1989
 
4,609,667,000
0.606
7,610,227,498
192.1
3.49
1990
 
4,897,821,000
0.632
7,745,917,351
195.6
1.78
1991
 
5,067,291,000
0.653
7,754,672,890
195.8
0.11
1992
 
5,409,920,000
0.671
8,064,036,251
203.6
3.99
1993
 
5,648,732,000
0.688
8,215,381,483
207.4
1.88
1994
 
5,940,128,000
0.702
8,462,564,643
213.7
3.01
1995
 
6,286,143,000
0.717
8,770,831,996
221.4
3.64
1996
 
6,673,186,000
0.732
9,115,876,182
230.1
3.93
1997
 
7,086,935,000
0.745
9,515,474,368
240.2
4.38
1998
 
7,601,594,000
0.751
10,126,007,726
255.6
6.42
1999
 
8,006,585,000
0.762
10,512,295,835
265.4
3.81
2000
 
8,654,561,000
0.781
11,082,803,176
279.8
5.43
2001
 
9,009,842,000
0.797
11,310,939,540
285.6
2.06
2002
 
9,157,682,000
0.807
11,347,527,942
286.5
0.32
2003
 
9,491,393,000
0.824
11,518,960,412
290.8
1.51
2004
 
10,037,313,000
0.844
11,886,495,032
300.1
3.19
2005
 
10,599,603,000
0.869
12,200,841,429
308.0
2.64
2006
 
11,374,142,000
0.893
12,733,863,998
321.5
4.37
2007
 
12,014,107,000
0.916
13,113,833,039
331.1
2.98
2008
 
12,475,898,000
0.943
13,226,501,988
333.9
0.86
2009
 
12,073,407,000
0.941
12,835,583,977
324.1
-2.96
2010
 
12,586,509,000
0.957
13,145,590,985
331.9
2.42
2011
 
13,330,436,000
0.982
13,578,930,427
342.8
3.30
2012
 
14,003,346,000
1.000
14,003,346,000
353.5
3.13
2013
 
14,189,228,000
1.014
13,999,672,435
353.4
-0.03
2014
 
14,969,527,000
1.029
14,549,483,414
367.3
3.93
2015
 
15,681,233,000
1.031
15,207,371,310
383.9
4.52
2016
 
16,092,713,000
1.041
15,451,773,438
390.1
1.61
2017
 
16,845,028,000
1.061
15,883,893,598
401.0
2.80
2018
 
17,681,159,000
1.083
16,323,380,232
412.1
2.77
2019
 
18,402,004,000
1.099
16,740,965,412
422.7
2.56
2020
 
19,607,447,000
1.112
17,628,632,951
445.1
5.30
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 2021
REAP_PI_CA1400_300_PN
 
   
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