Alaska's Gross State Product, 1961-1990

Abstract

Alaska's gross state product (GSP) in 1990 was almost $25 billion. That compares with less than $1 billion in 1961. Even if we adjust those figures to remove the effects of inflation, the real gross state product was still nearly 6 times bigger in 1990 than it had been 30 years earlier. GSP is a crucial measure of Alaska's economic capacity: of Alaska's ability to produce for the local, national, and world markets. But only a part of GSP stays in Alaska. A big share goes to multi-national oil companies, the federal government, and others outside Alaska. So when we talk about how much GSP grew in recent times, that doesn't all translate into economic benefits for Alaskans.