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Shipping containers are moved at the Don Young Port of Alaska on November 22, 2024. (Marc Lester \/ ADN) <\/p>\nShipping containers are moved at the Don Young Port of Alaska on November 22, 2024. (Marc Lester \/ ADN) <\/p>\n
Alaska\u2019s gross domestic product grew more slowly over the past decade than that of all other states except for one, according to a Department of Labor and Workforce Development analysis.<\/p>\n
The state\u2019s GDP \u2014 the value of all goods and services \u2014 rose by only 0.4% annually on average from 2015 to 2025 when adjusted for inflation, according to the analysis<\/a> in this month\u2019s Alaska Economic Trends, the magazine published by the department\u2019s research and analysis section. Only North Dakota has slower growth during the period, averaging 0.2% a year.<\/p>\n In comparison, the national annual growth rate for the period, adjusted for inflation, was 2.1% over the period, and the median growth rate \u2014 with half the states above and half below \u2014 was 1.7%.<\/p>\n Without adjustments for inflation, the state\u2019s growth might appear robust: an annual average of 8.2% from 2020 to 2024. But that nominal rate is misleading because the period was marked by high inflation, the analysis points out.<\/p>\n It focuses instead on \u201creal\u201d GDP, which factors in inflation. In real terms, Alaska\u2019s total GDP peaked more than a decade ago, when oil prices were highest. There were only three years between 2015 and 2024 when Alaska showed real GDP growth \u2014 2017, 2021 and 2022 \u2014 which also were the only years when Alaska\u2019s growth outpaced the national average, the analysis found.<\/p>\n The statistics demonstrate the state\u2019s economic vulnerability, said Sam Tappen, the state economist who did the analysis and wrote the Trends article.<\/p>\n \u201cThe fact that we\u2019ve had such long-term stagnation, I think, is troubling,\u201d he said.<\/p>\n The statistics reflect Alaska\u2019s dependence on oil and the price of that commodity, which depends on world markets and global events beyond the state\u2019s control.<\/p>\n![\"\"](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/06\/MXFII5HUEZE2LCHDURX6FJQJHE.png\")
Alaska\u2019s gross domestic product, in real dollars, is shown in this graph that separates the oil-dominated mining from all other sectors. (Graph from Alaska Economic Trends\/Alaska Department of Labor and Workforce Development Research and Analysis) <\/p>\n