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US State economic profile
North Carolina - Economic Profile
Statistics, economic information and rankings for the Tar Heel State
In 2026, the state of North Carolina has a population of 11,356,147, having grown an annualized 1.5% over the five years to 2026, which ranks it 7th out of all 50 US states by growth rate. North Carolina's gross state product (GSP) in 2026 reached $693.0b, with growth of 2.9% over the 5 years to 2026. Businesses in North Carolina employed a total of 5,295,148 people in 2026, with average annual employment growth over the past five years of 2.4%. The top three sectors by total employment are Real Estate & Rental & Leasing, Manufacturing, Professional, Scientific & Technical Services, while the unemployment rate across the state in 2026 was 4.3%.
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State economic profile
North Carolina Economic Overview
$693.0b
Gross state product
11,356,147
Population
1,110,441
Businesses
What is North Carolina's Gross Domestic Product (GDP)?
In 2026, North Carolina's GDP reached $693.0b, representing an increase of 2.9% from 2025. North Carolina's GDP has grown at an annualized rate of 2.6% over the five years to 2026. Moreover, North Carolina's trailing five-year GDP growth ranks it 12th out of all 50 US states.
State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state. It is a common indicator used to track the health of a state's economy.
You can track trends in North Carolina's GDP, and compare them to the national average, using the chart below.
State economic profile
North Carolina Industry Trends
Learn about current trends affecting the most significant industries for North Carolina's state economy, down to the county level. IBISWorld offers state industry research reports on over 30,000 industries across all 50 states in the US, including 639 industries in North Carolina.
What are North Carolina's Largest Industries by Revenue?
The largest industries by revenue in North Carolina are Commercial Banking, Health & Medical Insurance and Life Insurance & Annuities, which generated $74.7b, $65.0b and $48.5b in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | Commercial Banking | $74.7b |
| 2. | Health & Medical Insurance | $65.0b |
| 3. | Life Insurance & Annuities | $48.5b |
| 4. | Hospitals | $46.2b |
| 5. | New Car Dealers | $40.2b |
| 6. | Brand Name Pharmaceutical Manufacturing | $39.6b |
| 7. | Drug, Cosmetic & Toiletry Wholesaling | $35.9b |
| 8. | Cigarette & Tobacco Manufacturing | $32.9b |
| 9. | Public Schools | $26.4b |
| 10. | Supermarkets & Grocery Stores | $26.2b |
State economic profile
Top Companies in North Carolina
Learn about current trends affecting the top companies in North Carolina. IBISWorld offers benchmarking data and tools on over 5,000 companies in the US.
Top 10 Companies Headquartered in North Carolina by Employment
The largest companies by employment in North Carolina are State of North Carolina, Atrium Health and Walmart Inc., which employed 70,000, 63,125 and 62,378 people in 2026.
| Company | 2026 employment | Share of employment | |
|---|---|---|---|
| 1. | State of North Carolina | 70,000 | 1.3% |
| 2. | Atrium Health | 63,125 | 1.2% |
| 3. | Walmart Inc. | 62,378 | 1.2% |
| 4. | Duke University | 48,313 | 0.9% |
| 5. | Food Lion, Llc | 38,316 | 0.7% |
| 6. | Amazon.Com, Inc. | 26,000 | 0.5% |
| 7. | Harris Teeter, Llc | 20,973 | 0.4% |
| 8. | Lowes Companies Inc | 20,275 | 0.4% |
| 9. | United States Postal Service | 17,397 | 0.3% |
| 10. | Bank Of America Corporation | 16,000 | 0.3% |
State economic profile
North Carolina Sector Statistics
In North Carolina, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is North Carolina's GDP by Sector?
The Real Estate & Rental & Leasing, Manufacturing and Professional, Scientific & Technical Services sectors contributed the most to North Carolina's GDP in 2026, representing a combined 39.3% of state GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state economy, in addition to how the state economy is evolving over time.
| Sector | GDP | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Real Estate & Rental & Leasing | 95,992,592,070 | 5.5% | 6.0% |
| Manufacturing | 82,150,248,872 | -1.2% | -1.2% |
| Professional, Scientific & Technical Services | 72,369,504,523 | 8.6% | 8.7% |
| Finance & Insurance | 61,203,378,655 | 3.6% | 2.8% |
| Healthcare & Social Assistance | 52,605,798,530 | 5.1% | 5.2% |
| Retail Trade | 44,738,603,664 | 5.8% | 5.2% |
| Information | 38,228,591,592 | 8.3% | 7.9% |
| Wholesale Trade | 35,030,488,063 | 0.9% | 0.6% |
| Administration, Business Support and Waste Management Services | 29,005,977,275 | 6.1% | 6.6% |
| Construction | 25,822,620,283 | 0.3% | -0.3% |
| Management of Companies and Enterprises | 22,853,113,447 | 7.0% | 8.8% |
| Accommodation & Food Services | 17,471,491,333 | 2.3% | 1.7% |
| Transportation & Warehousing | 16,470,998,232 | 2.1% | 1.3% |
| Other Services (except Public Administration) | 11,839,620,380 | -0.7% | -0.5% |
| Educational Services | 9,259,148,585 | 4.5% | 5.1% |
| Utilities | 9,161,370,972 | -1.3% | -1.9% |
| Arts, Entertainment & Recreation | 8,059,166,397 | 12.1% | 13.5% |
| Agriculture, Forestry, Fishing & Hunting | 4,201,367,277 | -1.0% | -1.0% |
| Mining | 1,391,355,107 | 11.3% | 8.3% |
What is North Carolina's Employment by Sector?
The Healthcare & Social Assistance, Retail Trade and Accommodation & Food Services sectors contributed the most to employment in North Carolina in 2026, representing a combined 35.6% of state employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.
| Sector | Employment | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Healthcare & Social Assistance | 726,789 | 1.8% | 1.8% |
| Retail Trade | 652,169 | 1.4% | 2.1% |
| Accommodation & Food Services | 503,742 | 1.9% | 4.6% |
| Manufacturing | 486,766 | 0.4% | 1.0% |
| Professional, Scientific & Technical Services | 396,933 | 2.5% | 3.3% |
| Educational Services | 392,237 | 1.3% | 2.9% |
| Administration, Business Support and Waste Management Services | 391,759 | 1.8% | 1.8% |
| Construction | 346,734 | 2.3% | 2.7% |
| Transportation & Warehousing | 273,705 | 4.9% | 4.1% |
| Finance & Insurance | 258,896 | 0.9% | 1.1% |
| Other Services (except Public Administration) | 228,622 | 2.1% | 3.8% |
| Wholesale Trade | 202,527 | 0.9% | 1.5% |
| Real Estate & Rental & Leasing | 147,105 | 1.8% | 1.8% |
| Information | 139,277 | 2.5% | 3.8% |
| Arts, Entertainment & Recreation | 107,115 | 1.9% | 4.8% |
| Utilities | 27,118 | 1.8% | 1.6% |
| Agriculture, Forestry, Fishing & Hunting | 9,812 | 0.3% | -0.3% |
| Mining | 3,842 | 1.9% | 3.2% |
State economic profile
North Carolina Employment Trends
5.3m
Employment
4.3%
Unemployment
What Employment Trends are Impacting North Carolina?
The state of North Carolina employs 5,295,148 people in 2026, which ranks it 10th out of all 50 US states. Employment in North Carolina has grown at an annualized rate of 2.5% over the five years to 2026, overperforming the national average of 1.7%. Major sectors by employment in North Carolina include Healthcare & Social Assistance, Retail Trade and Accommodation & Food Services, which employed 726,789, 652,169 and 503,742 people in 2026, respectively. North Carolina's unemployment rate is 4.3% in 2026, which ranks it 25th out of all 50 US states. North Carolina's unemployment rate has trended downwards at a rate of -2.7% over the five years to 2026, overperforming the US economy as a whole.
Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.
You can track unemployment trends in North Carolina, and compare them to the US economy, using the chart below.
$102.6k
Per capita disposable income
What is North Carolina's Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. North Carolina's DPI in 2026 was $102.6k, compared to the US average of $156.5k, which places it 30th out of all 50 US states.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
You can track trends in North Carolina's per capita disposable income, and compare it to the US average, using the chart below.
State economic profile
North Carolina Construction & Building Trends
$30,930.2tn
Nonresidential construction
$23.7tn
Residential construction
83,701
Building permits
What can construction trends tell you about a state’s economy?
In North Carolina, non-residential construction was $30,930.2tn in 2026, which ranks it 47th out of all 50 US states. Residential construction was $23.7tn in 2026, which places North Carolina 28th out of all 50 US states. The number of building permits issued in North Carolina in 2026 was 83,701, representing a -1.9% annualized growth rate between 2021 and 2026.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.
You can track trends in the number of building permits issued in North Carolina, and compare it to trends in the number issued in the United States as a whole, using the chart below.
State economic profile
North Carolina Population Statistics
Which Counties in North Carolina have the Largest Populations?
The counties with the highest populations in North Carolina are Wake County, Mecklenburg County and Guilford County, which had populations of 1,249,810, 1,216,368 and 559,951 people in 2026.
| Region | 2026 population | Annual growth 2021-26 | Share of population |
|---|---|---|---|
| Wake | 1.2m | 1.6% | 11.0% |
| Mecklenburg | 1.2m | 1.5% | 10.7% |
| Guilford | 560.0k | 0.6% | 4.9% |
| Forsyth | 402.4k | 0.8% | 3.5% |
| Durham | 348.2k | 1.1% | 3.1% |
| Cumberland | 340.0k | 0.2% | 3.0% |
| Buncombe | 282.1k | 0.7% | 2.5% |
| Union | 275.3k | 2.4% | 2.4% |
| Johnston | 266.1k | 3.2% | 2.3% |
| Cabarrus | 253.4k | 1.8% | 2.2% |
| New Hanover | 250.1k | 1.5% | 2.2% |
| Gaston | 246.2k | 1.2% | 2.2% |
| Onslow | 224.1k | 1.6% | 2.0% |
| Iredell | 211.8k | 2.0% | 1.9% |
| Alamance | 186.8k | 1.4% | 1.6% |
| Brunswick | 183.6k | 4.7% | 1.6% |
| Davidson | 180.8k | 1.1% | 1.6% |
| Pitt | 179.3k | 0.8% | 1.6% |
| Catawba | 168.7k | 0.8% | 1.5% |
| Rowan | 156.8k | 1.1% | 1.4% |
| Orange | 153.7k | 0.7% | 1.4% |
| Randolph | 150.7k | 0.7% | 1.3% |
| Harnett | 149.5k | 1.9% | 1.3% |
| Henderson | 122.0k | 0.8% | 1.1% |
| Wayne | 120.8k | 0.6% | 1.1% |
State economic profile
North Carolina Demographics
In North Carolina, 38.3% of the population has a Bachelors or higher. The largest ethnic group in North Carolina is White, accounting for 58.8% of the state's population.
Education level in North Carolina
| Education level | Share (%) |
|---|---|
| Bachelors or higher | 38.3 |
| Other | 61.7 |
Race in North Carolina
| Race | Share (%) |
|---|---|
| White | 58.8 |
| Black | 20.6 |
| Hispanic | 12.9 |
| Asian | 4.3 |
| Other | 3.5 |
North Carolina State industry reports
IBISWorld State Industry Reports help you quickly understand how an industry performs at the state level compared with the national level, with accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 639 North Carolina industry reports.
Other states to explore
Compare North Carolina’s economy with other states in the United States.
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