Economy of Montana

Agriculture (including livestock), travel and tourism, timber, and mining are the largest industries of Montana. Agriculture contributes over two billion dollars to the state annually. Barley, sugar beets, and hay are the major crops. Livestock also adds to the revenue. Montana has 2.6 million beef cattle and about 18,000 dairy cows. Sheep are also common; the state ranks sixth in the US for sheep production. Montana is also the fifth-largest producer of honey in the nation, producing nine million pounds of honey annually. The food-processing industry forms a significant part of the agriculture sector.

Mining is an essential part of the economy. Montana has large mineral deposits, such as copper, silver, gold, platinum, zinc, lead, and manganese. Petroleum and natural gas, and vast sub-bituminous coal deposits are found in the eastern part of the state.

Montana's economy ranks second in the United States, with rapid growth in coal production. It is also the second-fastest growing US state in oil production.

GSP	$26 billion in 2003
Per Capita Income	$25,406 in 2003
Unemployment Rate	7.7% in 2011
Major Sectors	Agriculture, mining, lumbering, education, health
Major Industries	Tourism, food processing, manufacturing, banking, insurance

Business, finance, insurance and retail comprise the services sector. These contribute effectively to the economy of Montana. Tourism is an important part of the state's economy. Glacier National Park, Flathead Lake, Yellowstone National Park, and the site of the Battle of Little Bighorn are the major attractions in Montana that draw millions of visitors every year.

Montana does not levy sales tax. Also no property tax is assessed on household goods. As recorded on January 2010, the state's unemployment rate is 6.8%.

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