This dataset provides both quarterly and annual estimates of the value of the goods and services produced in Iowa as provided by the U.S. Department of Commerce, Bureau of Economic Analysis in tables SAGDP2N, SAGDP9N, SAGDP10N, SQGDP2, and SQGDP9. Annual data is available beginning in 1997, and quarterly beginning 2005. The data include breakdowns of industries' contributions. Quarterly estimates are presented as an annual rate.

Gross domestic product (GDP) is the measure of the market value of all final goods and services produced within Iowa in a particular period of time. In concept, an industry's GDP by state, referred to as its "value added", is equivalent to its gross output (sales or receipts and other operating income, commodity taxes, and inventory change) minus its intermediate inputs (consumption of goods and services purchased from other U.S. industries or imported). The Iowa GDP a state counterpart to the Nation's GDP, the Bureau's featured and most comprehensive measure of U.S. economic activity. Iowa GDP differs from national GDP for the following reasons: Iowa GDP excludes and national GDP includes the compensation of federal civilian and military personnel stationed abroad and government consumption of fixed capital for military structures located abroad and for military equipment, except office equipment; and Iowa GDP and national GDP have different revision schedules. GDP is reported in millions of current dollars.

Real GDP is an inflation-adjusted measure of Iowa's gross product that is based on national prices for the goods and services produced within Iowa. The real estimates of gross domestic product (GDP) are measured in millions of chained dollars.

The annual per capita real GDP is also provided and is measured in chained dollars. In calculating the per capita real GDP, the real GDP is divided by the Census Bureau’s annual midyear (July 1) population estimates for the year.