Oklahoma ranked fourth in real gross domestic product growth in 2013, according to new data released Wednesday by the Bureau of Economic Analysis.
Oklahoma’s real gross domestic product grew 4.2 percent in 2013. That was behind only North Dakota, 9.7 percent; Wyoming, 7.6 percent; and West Virginia, 5.1 percent.
Real gross domestic product is an inflation adjusted measure of each state’s gross product that is based on national prices for the goods and services produced in the state. The data shows the mining industry, which includes the oil and natural gas industries, played a key role in the top state’s economic growth.
“Although mining was not a significant contributor to read GDP growth in the nation, it did play a key role in several states,” the report said. “The industry was a large contributor in five of the fastest growing states: North Dakota, Wyoming, West Virginia, Oklahoma and Colorado.
In North Dakota, the fastest growing state in 2013, mining contributed 3.61 percent points to the state’s 9.7 percent growth in real GDP.”
