The economy of Oklahoma is the 30th largest in the United States. Oklahoma's gross state product (GSP) is approximately $197.2 billion as of December 2018.
Data Historical data The history of Oklahoma's GSP according to the Bureau of Economic Analysis and the United States Census Bureau
YearNominal GSP(in bil. US-Dollar)GSP growth(in percent)Population(in thousands)Population growth(in percent)GSP per capita(in US Dollars)Unemployment(in percent)State Government spending(in % of GSP)State Government debt(in % of GSP)Current account balance(in % of GSP)2020 185.9 -8.0 3,981 0.6 46,697 4.7 10.7 4.6 -2.92019 201.3 1.7 3,957 0.4 51,049 3.0 8.2 4.1 -2.82018 198.6 7.1 3,940 0.2 50,406 3.2 8.8 4.2 -2.62017 185.5 0.7 3,931 0.1 47,189 3.8 9.4 4.3 -2.32016 177.8 -3.4 3,926 0.4 45,288 4.5 10.1 4.22015 184.1 -4.9 3,910 0.8 47,084 4.4 9.5 4.1 2014 193.5 6.4 3,878 0.6 49,897 5.0 9.0 3.4 2013 181.9 5.0 3,853 0.9 47,210 5.0 9.3 3.5 2012 173.2 4.9 3,819 0.8 45,352 5.1 9.6 3.9 2011 165.1 7.8 3,788 1.7 43,585 5.4 10.1 4.3 2010 153.2 -4.1 3,724 1.0 41,139 6.1 10.8 2009 159.8 0.0 3,686 1.3 43,353 7.0 10.12008 159.8 10.4 3,640 0.9 43,901 4.7 9.42007 144.8 5.8 3,609 1.4 40,122 3.6 9.7
GSP by industry Industries value added to Oklahoma GDP in Q1 2020. Sectors percentages are compared to sector percentages of United States GDP.
Sector OK value ($ billions) Sector % of OK GDP Sector % of US GDP Agriculture 4.4 2.2% 1% Mining 45.0 22.5% 3% Construction 5.6 2.8% 2% Manufacturing 16.6 8.3% 4% Trade, Transportation, and Utilities 35.8 17.9% 12% Information 5.2 2.6% 5% Finance 22.0 11.0% 20% Professional 16.4 8.2% 12% Education and Health 14.0 7.0% 8% Entertainment 5.4 2.7% 4% Other Services 3.4 1.7% 2% Government 27.8 13.9% 12% Total 200.2 100% 100%
Employment There were approximately 1.8 million in the Oklahoma labor force in 2018. The private sector employs 90% of working Oklahomans, with the government (federal, state, and local) employing 9%. The largest employer in the state is the United States Department of Defense, which employs approximately 69,000 workers or 3.8% of all working Oklahomans. The largest private employer is Walmart, which employs approximately 32,000 workers or 1.8% of all working Oklahomans.
As of 2019, the top 20 employers in the State of Oklahoma were:
# Employer # of employees1United States Department of Defense69,0002Walmart32,2003University of Oklahoma17,8004Chickasaw Nation11,3005Choctaw Nation of Oklahoma10,0006Integris Health8,9007Cherokee Nation8,5008Oklahoma State University8,2009United States Postal Service6,90010Oklahoma Department of Human Services6,60011Hobby Lobby6,40112Mercy Health6,30013Saint Francis Hospitals6,20014Tulsa Public Schools5,90015United States Department of Veterans Affairs5,80016Braum's5,40017American Airlines5,20018Lowe's5,10019Oklahoma City Public Schools5,00020City of Oklahoma City4,800
Taxes
See also
List of US state economies List of Oklahoma counties by per capita income List of Oklahoma counties by socioeconomic factors
References
Notes Agriculture Sector includes establishments primarily engaged in growing crops, raising animals, harvesting timber, harvesting fish and other animals from a farm, ranch or their natural habitats Mining Sector includes exploration and development of minerals, including solids such as coal and ores, liquids such as crude petroleum, and gases such as natural gas Construction Sector comprises establishments primarily engaged in the construction of buildings or engineering projects Manufacturing Sector includes establishments engaged in the mechanical, physical, or chemical transformation of materials, substances, or components into new products Trade, Transportation, and Utitlies Sector includes wholesaling of merchandise, retailing of merchandise, passenger and freight transit, storage and warehousing of goods, and public utilities services Information Sector concerns publishing industries, including software publishing, motion picture and sound publishing, broadcast industries, telecommunications, and Internet service providers Finance Sector comprises establishment engaged in financial transactions, including banking, securities, insurance, and investment advisory services Professional Sector comprises establishments that specialize in performing professional, scientific, and technical activities for others Education and Healthcare Sector comprises schools, colleges, universities, and training centers as well as establishments providing health care and social assistance for individuals Entertainment Sector includes establishments that operate facilities or provide services to meet varied cultural, entertainment, and recreational interests of their patrons, such as live performances, historical exhibits, and recreationally facilities The Other Sector includes establishments which provide services not specifically provided for elsewhere in the classification system Government Sector includes the executive, legislative, judicial, administrative, regulatory, and military activities of Federal, state, and local governments together with government owned enterprises
External links Official State of Oklahoma website State of Oklahoma economic development