Economy of Oklahoma
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Flag of Oklahoma
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|
Currency | US$ (USD) |
---|---|
July 1 - June 30 | |
Statistics | |
GDP | $202.5 billion (nominal, 2015)[1] |
GDP rank | 27th (2015) |
GDP growth
|
4.2% (2013)[2] |
GDP per capita
|
$41,861 (2013)[3] |
GDP by sector
|
Agriculture 1% Industry 27% Services 72% |
Population below poverty line
|
15.9% (2011)[4] |
0.461 (2013) [5] | |
Labour force
|
1,868,500 (2015)[6] |
Labour force by occupation
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Agriculture 4% Industry 16% Services 80% |
Unemployment | 3.9% (2015)[7] |
External | |
Exports | $6.3 billion (2014) [8] |
Main export partners
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Canada 30.2% Mexico 9.5% Japan 4.7% China 4.3% |
Imports | $13.6 billion (2014)[9] |
Main import partners
|
Canada 47.8% China 19.9% Mexico 7.4% Japan 2.9% |
Public finances | |
$1.9 billion; 1% of GDP (2015)[10] | |
Revenues | $17.5 billion (FY2014)[11] (Federal Grants 38.3%, Income Tax 19.1%, Sales Tax 14.8%, Other 30.2%) |
Expenses | $17.5 billion (FY2014)[12] (Health Services 32.6 %, Education 25.1%, Social Services 12.7%, Gov't Admin 12.7%, Public Safety 4.6%, Debt Service 2.3%, Other 10.1%) |
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The economy of Oklahoma is the 27th largest in the United States.Oklahoma's gross state product (GSP) is approximately $202.5 billion as of December 2015.
Contents
GSP
Historical GSP
The history of Oklahoma's GSP according to the Bureau of Economic Analysis, in nominal terms, with percentage of total to GPD of the
United States:[14]
Year | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
OK GDP | 97.7 | 99.5 | 106.1 | 114.2 | 125.1 | 136.8 | 144.3 | 157.5 | 143.5 | 152.1 | 162.1 | 169.3 | 176.4 | 183.5 | 202.5 |
% of US GDP | 0.9 | 0.9 | 0.9 | 0.9 | 1.0 | 1.0 | 1.0 | 1.1 | 1.0 | 1.0 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 |
GSP growth
The development of the Oklahoma's GSP according to the Bureau of Economic Analysis, in nominal terms, with comparison to growth of the economy of the United States:[15][16]
Year | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% change of OK GDP | 6.1 | 1.8 | 6.6 | 7.6 | 9.5 | 9.4 | 5.5 | 9.1 | -8.9 | 6.0 | 6.6 | 4.4 | 4.2 | 4.0 | 4.2 |
% change of US GDP | 3.9 | 2.8 | 4.6 | 7.0 | 6.6 | 6.2 | 4.3 | 1.4 | -2.1 | 4.2 | 3.4 | 4.5 | 3.7 | 3.6 | 3.6 |
GDP by industry
Industries value added to Oklahoma GDP in 2014. Sectors percentages are compared to sector percentages of United States GDP.[17]
Industry | OK GDP value ($ billions) | Sector % of OK GDP | Sector % of US GDP |
---|---|---|---|
Agriculture | 2.8 | 2% | 1% |
Mining | 27.2 | 15% | 3% |
Utilities | 5.9 | 3% | 2% |
Construction | 7.3 | 4% | 4% |
Manufacturing | 22.5 | 10% | 12% |
Trade | 21.2 | 12% | 12% |
Transportation | 7.1 | 4% | 3% |
Information | 4 | 2% | 5% |
Finance | 27.2 | 14% | 20% |
Professional | 15 | 8% | 12% |
Education and Health | 14.2 | 7% | 8% |
Entertainment | 6.6 | 3% | 4% |
Other Services | 3.8 | 2% | 2% |
Government | 27.7 | 15% | 12% |
Total | 202.5 | 100% | 100% |
Employment
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Taxes
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See also
- Category:Companies based in Oklahoma
- Category:Economies by country
- Category:Economies by region
- Comparison between U.S. states and countries by GDP (PPP)
- List of US state economies
References
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