Economy of Alaska

Alaska ranks second in the Unites States in crude oil production.

Gross state product	$44.9 billion
Per capita income	$40,042
Unemployment rate	8.5%
Major industries	Manufacturing industries, agriculture and oil and gas.
Major sectors	Agriculture, oil, government.

In 2007, the gross state product of Alaska was $44.9 billion, and the personal per capita income was $40,042, fifteenth-highest in the country. The economy of the state is dependent on oil and gas industry. Its major oil and gas reserves are located in Alaska North Slope and Cook Inlet basins. It accounts for 20% of oil produced in the country.

Due to extreme climate and steep terrain, little farming happens in Alaska. Agriculture contributes a small fraction to the economy of the state. Primary agricultural outputs are potatoes, carrots, lettuce, dairy products, and cabbage. It has abundance of seafood. Hunting is still common in this region. Akutaq, the Eskimo ice cream, is an example of traditional native food.

Seafood, oil, and natural gas are Alaska's main export products. Military bases are important component of the economy. Employment is mostly in government and industries such as shipping and transportation. Industrial outputs are crude petroleum, natural gas, coal, gold, precious metals, zinc, timber, and wood products.

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