Economy of Oklahoma facts for kids

Economy of Oklahoma

Flag of Oklahoma
Currency	US$ (USD)
Fiscal year	July 1 - June 30
Statistics
GDP	$202.5 billion (nominal, 2015)
GDP rank	27th (2015)
GDP growth	4.2% (2013)
GDP per capita	$41,861 (2013)
GDP by sector	Agriculture 1% Industry 27% Services 72%
Population below poverty line	15.9% (2011)
Gini coefficient	0.461 (2013)
Labor force	1,868,500 (2015)
Labor force by occupation	Agriculture 4% Industry 16% Services 80%
Unemployment	3.9% (2015)
External
Exports	$6.3 billion (2014)
Main export partners	Canada 30.2% Mexico 9.5% Japan 4.7% China 4.3%
Imports	$13.6 billion (2014)
Main import partners	Canada 47.8% China 19.9% Mexico 7.4% Japan 2.9%
Public finances
Public debt	$1.9 billion; 1% of GDP (2015)
Revenues	$17.5 billion (FY2014) (Federal Grants 38.3%, Income Tax 19.1%, Sales Tax 14.8%, Other 30.2%)
Expenses	$17.5 billion (FY2014) (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%)
Credit rating	Standard & Poor's: AA+ Moody's: Aa2 Fitch: AA+
All values, unless otherwise stated, are in US dollars.

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.

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:

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:

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.

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%