From the second to the third quarter of 2022, Oklahoma’s gross domestic product (GDP) increased at a rate of 5.5%, making it the third fastest-growing economy in the nation. The only states outpacing Oklahoma during that period were Alaska which had the highest GDP growth at 8.8% and Texas with the second highest GDP growth at 8.5%.
“With the state’s recent increase in jobs and massive population gains coupled with these GDP increases, Oklahoma is on an exciting trajectory,” said Chad Mariska, Oklahoma Secretary of Commerce and Workforce Development. “We have a real opportunity here to tell Oklahoma’s story – from talent attraction efforts to showcasing our pro-business policies. People and companies are buying what Oklahoma is selling and I’m excited to see our momentum continue.”
Flourishing businesses and industries across the state factored into the state’s GDP growth. Oklahoma’s oil and gas sector played a major role with mining contributing more than $1 billion. The transportation and warehousing sector were also key players contributing $444.5 million. Additionally, the arts, entertainment and recreation sector outpaced all others with the highest percentage gain of 7.3% from the previous quarter.