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The Economic Base of North Dakota in 2011

Author

Listed:
  • Coon, Randal C.
  • Bangsund, Dean A.
  • Hodur, Nancy M.

Abstract

The growth and composition of the North Dakota economy have been measured by using economic base analysis. Economic base (sales for final demand) has been estimated for sectors corresponding to the North Dakota Input-Output Model and for industrial categories. These two measures produce the same total basic economic activity, but use different delineations. North Dakota’s economic base has grown from $8.3 billion in 1990 to $33.2 billion in 2011 when measured in current year (nominal) dollars. When measured in real or constant dollars, the economy grew from $13.0 billion in 1990 to $33.2 billion in 2011. Constant dollars remove the effects of inflation and were calculated using the Gross Domestic Product Implicit Price Deflators. Nominal growth of the state’s economy from 1990 to 2011 was 127.2 percent, which amounted to 77.6 percent real growth. Natural resource-based activities (agriculture and energy) continue to comprise over half of the state’s economic base, accounting for 50.1 percent in 2011.

Suggested Citation

  • Coon, Randal C. & Bangsund, Dean A. & Hodur, Nancy M., 2013. "The Economic Base of North Dakota in 2011," Staff Papers 146009, North Dakota State University, Department of Agribusiness and Applied Economics.
  • Handle: RePEc:ags:nddsps:146009
    DOI: 10.22004/ag.econ.146009
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    File URL: https://ageconsearch.umn.edu/record/146009/files/AAE%20No.13001_2.pdf
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    References listed on IDEAS

    as
    1. Bangsund, Dean A. & Leistritz, F. Larry, 2007. "Economic Contribution of the Petroleum Industry to North Dakota," Agribusiness & Applied Economics Report 7642, North Dakota State University, Department of Agribusiness and Applied Economics.
    2. Coon, Randal C. & Leistritz, F. Larry & Hertsgaard, Thor A. & Leholm, Arlen G., 1985. "The North Dakota Input-Output Model: A Tool for Analyzing Economic Linkages," Agricultural Economics Reports 23304, North Dakota State University, Department of Agribusiness and Applied Economics.
    3. Leistritz, F. Larry, 1994. "Economic and Fiscal Impact Assessment," Staff Papers 121073, North Dakota State University, Department of Agribusiness and Applied Economics.
    4. Coon, Randal C. & Leistritz, F. Larry, 2001. "Adding an Exported Services Component to the North Dakota Input-Output Model's Business and Personal Services Sector," Agribusiness & Applied Economics Report 23562, North Dakota State University, Department of Agribusiness and Applied Economics.
    5. Coon, Randal C. & Hodur, Nancy M. & Bangsund, Dean A., 2012. "Renewable Energy Industries' Contribution to the North Dakota Economy," Agribusiness & Applied Economics Report 140122, North Dakota State University, Department of Agribusiness and Applied Economics.
    6. Leistritz, F. Larry & Ransom-Nelson, William & Rathge, Richard W. & Coon, Randal C. & Chase, Robert A. & Hertsgaard, Thor A. & Murdock, Steven H. & Toman, Norman E. & Sharma, Rakesh & Yang, Pai-Sung, 1982. "North Dakota Economic-Demographic Assessment Model (NEDAM): Technical Description," Agricultural Economics Reports 23341, North Dakota State University, Department of Agribusiness and Applied Economics.
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