Agriculture Sector's Contribution to State GDPs, 2016-2017
The U.S. Department of Commerce reported that real gross domestic product (GDP) increased 2.3 percent nationally between 2016 and 2017. Economic growth was widespread, with 20 of 22 industry groups contributing to the increase. Despite this growth, the agriculture, forestry, fishing, and hunting sector decreased 9.4 percent nationally – the culmination of five consecutive quarterly declines. While still struggling, states in the Southern region fared better than their Midwestern neighbors, which experienced the sharpest declines. Although the agriculture sector declined in each of the Southern states, only Louisiana experienced an overall decline in real GDP. As Congress continues to draft the 2018 Farm Bill, states reliant on farm economies will be paying close attention to any changes that may revive this important sector.
Contribution of Southern states' agriculture, forestry, fishing and hunting sectors to percent change in real GDP, 2016-2017
Source: U.S. Bureau of Economic Analysis