U.S. States with the Highest Real GDP Growth in 2023

What We’re Showing

The top 10 states by real GDP growth in 2023 YoY, based on data from the Bureau of Economic Analysis.

Oil Boom Fuels Key States

The top five fastest-growing states by real GDP were powered by the oil and gas industry, which posted record crude oil production in 2023. 

Mining also played a key role across these states, with top-ranking North Dakota being home to vast deposits of coal.

Texas: A Major Trade Hub

In 2023, Texas' economy reached $2 trillion as it grew by 5%—double the country's overall real GDP growth of 2.5% for 2023.

Over the last 10 years, U.S. crude oil exports surged by more than 30-fold, with roughly half exported from Corpus Christi Bay, a port along the Texas coastline. 

Overall, the oil and gas industry generated about $72 million per day in local and state taxes in addition to state royalties.