Renville County vs. North Dakota
Comparative Trends Analysis:
Total Personal Income Growth and Change, 1969-2022
Introduction
Renville County vs. North Dakota
Renville County:
2022 TPI = $252,060K
2022 Percent of State = 0.46%
North Dakota:
2022 TPI = $54,828,494K
2022 Percent of U.S. = 0.25%
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 Renville County and North Dakota 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.
Renville County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Renville County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Renville 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 Renville County over time.
When measured in current dollars, Renville County's total personal income increased 2,005.94%, from $12M in 1970 to $252M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 258.71%, from $61M in 1970 to $217M in 2022.
Real Total Personal Income, 1969-2022 (Millions)
Real Total Personal Income, 1969-2022 (Millions)
Figure 2.
Figure 2 traces Renville County's and North Dakota'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, Renville County's real total personal income rose from $67M in 1969 to $217M in 2022, for a net gain of $150M, or 221.95%. In comparison, North Dakota's real total personal income increased from $10,542M in 1969 to $47,248M in 2022, for a net advance of $36,707M, or 348.21%.
Real Total Personal Income Indices (1969=100): 1969-2022
Real Total Personal Income Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Renville County's real total personal income growth in a broader context by offering direct comparisons across time with North Dakota, 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.
Renville County's overall real total personal income growth was 221.95% over 1969-2022 trailed North Dakota's increase of 348.21%, and fell below the United States' increase of 348.76%.
Total Personal Income as a Percent of the North Dakota Total: 1969-2022
Total Personal Income as a Percent of the North Dakota Total: 1969-2022
Figure 4.
Another interesting and insightful way of comparing the total personal income growth of Renville County is to trace its individual percentage contributions to North Dakota'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 Dakota's total personal income, while a declining share shows it grew more slowly.
In 1969, Renville County's total personal income totaled 0.64% of North Dakota's total personal income, while in 2022 it totaled 0.46% thereby yielding a -0.18% share-shift.
   
 
Total Personal Income Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.18%
=
0.46%
-
0.64%
 
   
Renville County Real Total Personal Income:
Annual Percent Change, 1970-2022
Renville County Real Total Personal Income:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Renville 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 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, Renville County's real total personal income grew at an annual rate of 5.87% over 1970-2022. The county recorded its highest growth in 1973 (108.41%) and posted its lowest growth in 1974 (-33.79%). In 2022, Renville County's real total personal income grew by 35.67%
Renville County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022
Renville 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 depicts the annual percent change in Renville 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, Renville County's annual real total personal income growth rate averaged 6.27%. It averaged 4.26% in the 1980s, 2.81% throughout the 1990s, 12.49% in the 2000s, 1.46% in the 2010s, 12.68% 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 Renville County noted in the previous graph with the corresponding decade averages for North Dakota and the nation. As the chart reveals, Renville County's average annual real total personal income growth topped North Dakota's average in the 1970s (6.27% vs. 4.81%), recorded above North Dakota's average throughout the 1980s (4.26% vs. 0.92%), topped North Dakota's average throughout the 1990s (2.81% vs. 2.61%), recorded above North Dakota's average in the 2000s (12.49% vs. 3.62%), amounted to less than North Dakota's average in the 2010s (1.46% vs. 3.70%), and registered above North Dakota's average over the 3 year period of the current decade, 2020-2022 (12.68% vs. 3.65%).
Finally, relative to nationwide real total personal income growth trends, Renville County outgained the nation during the 1970s (6.27% vs. 3.50%), exceeded the nation in the 1980s (4.26% vs. 3.16%), fell under the nation over the 1990s (2.81% vs. 3.27%), outgained the nation during the 2000s (12.49% vs. 2.06%), fell below the nation throughout the 2010s (1.46% vs. 2.72%), and surpassed the nation over 2020-2022 (12.68% vs. 2.10%).
   
 
Real* Total Personal Income Growth:
Average Annual Percent Change
 
 
 
5.87
6.27
4.26
2.81
12.49
1.46
12.68
35.67
 
3.16
4.81
0.92
2.61
3.62
3.70
3.65
0.47
 
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.

   
 
Renville County:
Total Personal Income, 1969-2022
 
1969
 
12,740
0.189
67,468
100.0
N
0.64
1970
 
11,969
0.198
60,553
89.8
-10.25
0.57
1971
 
14,465
0.206
70,201
104.1
15.93
0.60
1972
 
18,856
0.213
88,493
131.2
26.06
0.65
1973
 
41,414
0.225
184,431
273.4
108.41
1.03
1974
 
30,274
0.248
122,107
181.0
-33.79
0.76
1975
 
30,400
0.269
113,179
167.8
-7.31
0.73
1976
 
24,466
0.283
86,352
128.0
-23.70
0.60
1977
 
25,094
0.302
83,159
123.3
-3.70
0.59
1978
 
31,584
0.323
97,856
145.0
17.67
0.59
1979
 
25,243
0.351
71,829
106.5
-26.60
0.46
1980
 
18,573
0.389
47,711
70.7
-33.58
0.35
1981
 
37,375
0.424
88,117
130.6
84.69
0.54
1982
 
35,564
0.448
79,435
117.7
-9.85
0.48
1983
 
44,943
0.467
96,287
142.7
21.21
0.57
1984
 
48,925
0.484
101,003
149.7
4.90
0.58
1985
 
53,510
0.501
106,747
158.2
5.69
0.61
1986
 
51,740
0.512
101,017
149.7
-5.37
0.58
1987
 
40,204
0.528
76,141
112.9
-24.63
0.44
1988
 
31,611
0.549
57,616
85.4
-24.33
0.37
1989
 
40,880
0.573
71,392
105.8
23.91
0.43
1990
 
51,119
0.598
85,519
126.8
19.79
0.50
1991
 
40,481
0.618
65,531
97.1
-23.37
0.39
1992
 
58,102
0.634
91,615
135.8
39.80
0.51
1993
 
57,587
0.650
88,595
131.3
-3.30
0.50
1994
 
60,714
0.664
91,497
135.6
3.28
0.48
1995
 
54,356
0.678
80,226
118.9
-12.32
0.43
1996
 
76,493
0.692
110,534
163.8
37.78
0.54
1997
 
52,230
0.704
74,183
110.0
-32.89
0.38
1998
 
66,263
0.710
93,372
138.4
25.87
0.44
1999
 
49,382
0.720
68,585
101.7
-26.55
0.32
2000
 
70,729
0.738
95,810
142.0
39.70
0.43
2001
 
62,381
0.753
82,841
122.8
-13.54
0.37
2002
 
62,945
0.763
82,506
122.3
-0.40
0.36
2003
 
89,856
0.779
115,357
171.0
39.82
0.47
2004
 
61,734
0.798
77,335
114.6
-32.96
0.32
2005
 
79,621
0.821
96,949
143.7
25.36
0.39
2006
 
73,776
0.844
87,371
129.5
-9.88
0.34
2007
 
107,204
0.866
123,782
183.5
41.67
0.45
2008
 
165,038
0.892
185,082
274.3
49.52
0.61
2009
 
140,875
0.889
158,427
234.8
-14.40
0.53
2010
 
122,234
0.905
135,044
200.2
-14.76
0.41
2011
 
162,078
0.928
174,645
258.9
29.32
0.48
2012
 
199,800
0.945
211,353
313.3
21.02
0.51
2013
 
204,229
0.958
213,225
316.0
0.89
0.52
2014
 
153,386
0.971
157,933
234.1
-25.93
0.36
2015
 
136,176
0.973
139,956
207.4
-11.38
0.34
2016
 
136,314
0.983
138,694
205.6
-0.90
0.35
2017
 
137,767
1.000
137,767
204.2
-0.67
0.35
2018
 
177,710
1.020
174,145
258.1
26.41
0.42
2019
 
163,397
1.035
157,852
234.0
-9.36
0.37
2020
 
183,226
1.046
175,110
259.5
10.93
0.38
2021
 
174,511
1.090
160,100
237.3
-8.57
0.34
2022
 
252,060
1.160
217,213
321.9
35.67
0.46
Source: Calculations by the North Dakota Regional Economic Analysis Project (ND-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 Dakota:
Total Personal Income, 1969-2022
 
1969
 
1,990,570
0.189
10,541,598
100.0
N
0.25
1970
 
2,102,372
0.198
10,636,305
100.9
0.90
0.25
1971
 
2,424,204
0.206
11,765,125
111.6
10.61
0.26
1972
 
2,887,407
0.213
13,550,812
128.5
15.18
0.28
1973
 
4,036,830
0.225
17,977,422
170.5
32.67
0.36
1974
 
3,998,170
0.248
16,126,205
153.0
-10.30
0.32
1975
 
4,181,464
0.269
15,567,625
147.7
-3.46
0.31
1976
 
4,101,883
0.283
14,477,404
137.3
-7.00
0.27
1977
 
4,261,106
0.302
14,120,844
134.0
-2.46
0.26
1978
 
5,357,868
0.323
16,600,161
157.5
17.56
0.29
1979
 
5,507,758
0.351
15,672,418
148.7
-5.59
0.27
1980
 
5,273,968
0.389
13,548,007
128.5
-13.56
0.23
1981
 
6,904,340
0.424
16,278,062
154.4
20.15
0.27
1982
 
7,454,850
0.448
16,651,069
158.0
2.29
0.27
1983
 
7,838,187
0.467
16,792,756
159.3
0.85
0.26
1984
 
8,456,480
0.484
17,457,999
165.6
3.96
0.26
1985
 
8,743,001
0.501
17,441,352
165.5
-0.10
0.25
1986
 
8,871,038
0.512
17,319,819
164.3
-0.70
0.24
1987
 
9,105,864
0.528
17,245,301
163.6
-0.43
0.23
1988
 
8,460,842
0.549
15,421,201
146.3
-10.58
0.20
1989
 
9,472,814
0.573
16,543,221
156.9
7.28
0.21
1990
 
10,256,270
0.598
17,158,126
162.8
3.72
0.21
1991
 
10,401,883
0.618
16,838,610
159.7
-1.86
0.21
1992
 
11,384,968
0.634
17,951,700
170.3
6.61
0.21
1993
 
11,536,405
0.650
17,748,315
168.4
-1.13
0.20
1994
 
12,531,737
0.664
18,885,612
179.2
6.41
0.21
1995
 
12,552,311
0.678
18,526,303
175.7
-1.90
0.20
1996
 
14,037,638
0.692
20,284,725
192.4
9.49
0.21
1997
 
13,770,070
0.704
19,557,814
185.5
-3.58
0.19
1998
 
15,078,708
0.710
21,247,492
201.6
8.64
0.20
1999
 
15,257,879
0.720
21,191,204
201.0
-0.26
0.19
2000
 
16,591,077
0.738
22,474,434
213.2
6.06
0.19
2001
 
16,930,740
0.753
22,483,785
213.3
0.04
0.19
2002
 
17,356,115
0.763
22,749,885
215.8
1.18
0.19
2003
 
18,949,490
0.779
24,327,278
230.8
6.93
0.20
2004
 
19,330,915
0.798
24,216,011
229.7
-0.46
0.19
2005
 
20,501,369
0.821
24,963,007
236.8
3.08
0.19
2006
 
21,508,536
0.844
25,471,975
241.6
2.04
0.19
2007
 
23,828,798
0.866
27,513,709
261.0
8.02
0.20
2008
 
26,942,586
0.892
30,214,855
286.6
9.82
0.22
2009
 
26,722,103
0.889
30,051,510
285.1
-0.54
0.22
2010
 
29,758,809
0.905
32,877,576
311.9
9.40
0.24
2011
 
33,587,983
0.928
36,192,387
343.3
10.08
0.25
2012
 
39,538,595
0.945
41,824,735
396.8
15.56
0.28
2013
 
39,538,731
0.958
41,280,349
391.6
-1.30
0.28
2014
 
42,181,264
0.971
43,431,662
412.0
5.21
0.29
2015
 
40,408,157
0.973
41,529,879
394.0
-4.38
0.26
2016
 
39,232,018
0.983
39,916,994
378.7
-3.88
0.25
2017
 
39,743,692
1.000
39,743,692
377.0
-0.43
0.24
2018
 
42,565,900
1.020
41,712,054
395.7
4.95
0.24
2019
 
43,968,202
1.035
42,476,019
402.9
1.83
0.24
2020
 
47,621,422
1.046
45,511,943
431.7
7.15
0.24
2021
 
51,261,703
1.090
47,028,654
446.1
3.33
0.24
2022
 
54,828,494
1.160
47,248,429
448.2
0.47
0.25
Source: Calculations by the North Dakota Regional Economic Analysis Project (ND-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 Dakota Regional Economic Analysis Project (ND-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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