Recent Changes and Future Trends For North Dakota's Economy

Abstract

The authors cover recent changes in North Dakota’s economy and offer predictions of the ideas on possible future trends in the economy. North Dakota's economic base doubled from $2.6 billion in 1958 to$5.2 billion in 1987. The 1970's experienced rapid growth due to agricultural products. The energy sector increased in the 1980s. Rapid growth was followed by a steady decline in the state's total economic base due to the state being too focused on only agriculture and petroleum. The article recommended further diversification of goods and services to buffer against market risks