The Economic Base of North Dakota in 2011

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