The Economic Base of North Dakota
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 $32.2 billion in 2010 when measured in current year (nominal) dollars. When measured in real or constant dollars, the economy grew from $12.8 billion in 1990 to $32.2 billion in 2010. 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 2010 was 120.3 percent, which amounted to 76.1 percent real growth. Natural resource-based activities (agriculture and energy) continue to comprise over half of the state’s economic base, accounting for 50.9 percent in 2010.
|Date of creation:||Mar 2012|
|Date of revision:|
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- 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.
- 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.
- Bangsund, Dean A. & Leistritz, F. Larry, 2007. "Economic Contribution of the Petroleum Industry to North Dakota," Agribusiness & Applied Economics Report 7635, North Dakota State University, Department of Agribusiness and Applied Economics.
- Leistritz, F. Larry, 1994.
"Economic and Fiscal Impact Assessment,"
Statistical Series Reports
121073, North Dakota State University, Department of Agribusiness and Applied Economics.
- 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.
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