GDP
Montana's gross domestic product reached approximately $68 billion in 2023, ranking around 45th among U.S. states.
Real GDP (chained 2017 dollars)
1997–2025BEA, chained 2017 dollars (FRED MTRGSP).
| Indicator | Montana | U.S. |
|---|---|---|
| State GDP (billions) | 68 | 27360 |
- •Montana's economy remains heavily influenced by agriculture and tourism from Yellowstone and Glacier National Parks.
GDP Growth
Montana's real GDP grew approximately 2.1% in 2023, roughly in line with the national growth rate.
Real GDP growth
1998–2025Annual % change in BEA real GDP (MTRGSP).
| Indicator | Montana | U.S. |
|---|---|---|
| Real GDP growth % | 2.1 | 2.5 |
- •Mining and energy extraction remain key swing factors in Montana's annual GDP growth.
Personal Income
Montana's per capita personal income was about $62,000 in 2023, reflecting steady gains from wages, farm income, and investments.
Per capita personal income
1970–2025BEA, current dollars (FRED MTPCPI).
| Indicator | Montana | U.S. |
|---|---|---|
| Per capita personal income ($1,000s) | 62 | 65.4 |
- •Farm income volatility significantly affects Montana's year-to-year personal income figures.
Median Household Income
Montana's median household income was $70,804 in 2023, close to the U.S. median.
Median household income (CPS)
1984–2025Census CPS ASEC, current dollars (FRED MEHOINUSMTA646N).
| Indicator | Montana | U.S. |
|---|---|---|
| Median household income ($1,000s) | 70.8 | 77.7 |
- •Montana's median household income has risen faster than housing affordability has kept pace.
Poverty Rate
Montana's poverty rate stood at about 12.4% in 2023, slightly above the national average.
Poverty rate, all ages (SAIPE)
1989–2024Census Small Area Income and Poverty Estimates (FRED PPAAMT30000A156NCEN).
| Indicator | Montana | U.S. |
|---|---|---|
| Poverty rate % | 12.4 | 11.5 |
- •Poverty rates on some Montana reservations exceed 30%, far above the state average.
Inflation
Consumer prices in the Mountain West region, including Montana, rose about 3.2% year-over-year in 2023, slightly below the national CPI increase.
CPI inflation, U.S.
2007–2024BLS CPI-U U.S. city average, annual average change (CPIAUCNS).
CPI inflation, West region
2007–2025BLS CPI-U all items, West region, annual average change (CUUR0400SA0).
| Indicator | Montana | U.S. |
|---|---|---|
| CPI change % | 3.2 | 3.4 |
- •Housing costs have been the single largest driver of inflation in Montana in recent years.
Economic Output
Montana's economic output per worker remains below the national average, reflecting a labor force concentrated in lower-productivity sectors like agriculture and tourism.
Nominal GDP (current dollars)
1997–2025BEA, current dollars (FRED MTNGSP).
| Indicator | Montana | U.S. |
|---|---|---|
| Output per worker ($1,000s) | 115 | 140 |
- •Montana ranks among the top coal-reserve states, giving mining an outsized role in output.
Industry Breakdown
Government, healthcare, and tourism/leisure are Montana's top employment sectors, followed by agriculture and mining.
Government jobs
1990–2025BLS Current Employment Statistics, annual average (FRED MTGOVT).
Manufacturing jobs
1990–2025BLS Current Employment Statistics, annual average (FRED MTMFG).
Construction jobs
1990–2025BLS Current Employment Statistics, annual average (FRED MTCONS).
| Indicator | Montana | U.S. |
|---|---|---|
| Tourism share of GDP % | 10 | 2.9 |
- •Tourism tied to Yellowstone and Glacier National Parks contributes roughly 10% of Montana's GDP.