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US State economic profile
South Dakota - Economic Profile
Statistics, economic information and rankings for the Mount Rushmore State
In 2026, the state of South Dakota has a population of 940,272, having grown an annualized 1.0% over the five years to 2026, which ranks it 12th out of all 50 US states by growth rate. South Dakota's gross state product (GSP) in 2026 reached $58.2b, with growth of 0.8% over the 5 years to 2026. Businesses in South Dakota employed a total of 487,933 people in 2026, with average annual employment growth over the past five years of 1.7%. The top three sectors by total employment are Agriculture, Forestry, Fishing & Hunting, Real Estate & Rental & Leasing, Finance & Insurance, while the unemployment rate across the state in 2026 was 2.2%.
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State economic profile
South Dakota Economic Overview
$58.2b
Gross state product
940,272
Population
123,287
Businesses
What is South Dakota's Gross Domestic Product (GDP)?
In 2026, South Dakota's GDP reached $58.2b, representing an increase of 0.8% from 2025. South Dakota's GDP has grown at an annualized rate of 0.8% over the five years to 2026. Moreover, South Dakota's trailing five-year GDP growth ranks it 49th 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 South Dakota's GDP, and compare them to the national average, using the chart below.
State economic profile
South Dakota Industry Trends
Learn about current trends affecting the most significant industries for South Dakota'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 606 industries in South Dakota.
What are South Dakota's Largest Industries by Revenue?
The largest industries by revenue in South Dakota are Credit Card Issuing, Corn, Wheat & Soybean Wholesaling and Commercial Banking, which generated $10.7b, $9.2b and $6.5b in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | Credit Card Issuing | $10.7b |
| 2. | Corn, Wheat & Soybean Wholesaling | $9.2b |
| 3. | Commercial Banking | $6.5b |
| 4. | Hospitals | $5.7b |
| 5. | Life Insurance & Annuities | $5.4b |
| 6. | Farm Supplies Wholesaling | $5.4b |
| 7. | Wholesale Trade Agents and Brokers | $5.1b |
| 8. | New Car Dealers | $3.8b |
| 9. | Meat, Beef & Poultry Processing | $3.2b |
| 10. | Organic Chemical Manufacturing | $3.1b |
State economic profile
Top Companies in South Dakota
Learn about current trends affecting the top companies in South Dakota. IBISWorld offers benchmarking data and tools on over 5,000 companies in the US.
Top 10 Companies Headquartered in South Dakota by Employment
The largest companies by employment in South Dakota are , which employed people in 2026.
| Company | 2026 employment | Share of employment |
|---|
State economic profile
South Dakota Sector Statistics
In South Dakota, 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 South Dakota's GDP by Sector?
The Agriculture, Forestry, Fishing & Hunting, Real Estate & Rental & Leasing and Finance & Insurance sectors contributed the most to South Dakota's GDP in 2026, representing a combined 37.7% 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 |
|---|---|---|---|
| Agriculture, Forestry, Fishing & Hunting | 7,168,816,666 | 11.4% | 10.2% |
| Real Estate & Rental & Leasing | 7,095,918,477 | 5.6% | 6.2% |
| Finance & Insurance | 7,071,341,123 | -3.6% | -5.0% |
| Healthcare & Social Assistance | 6,127,495,575 | 1.9% | 2.0% |
| Retail Trade | 4,530,762,102 | 4.3% | 3.7% |
| Manufacturing | 4,420,288,208 | -0.6% | -1.3% |
| Wholesale Trade | 3,537,939,161 | 0.3% | -0.1% |
| Professional, Scientific & Technical Services | 3,452,433,758 | 9.8% | 10.3% |
| Construction | 2,316,981,940 | 1.2% | 0.5% |
| Accommodation & Food Services | 2,118,878,829 | 5.2% | 6.0% |
| Information | 1,932,499,042 | 5.5% | 5.6% |
| Transportation & Warehousing | 1,247,048,309 | 0.9% | 0.0% |
| Utilities | 1,210,146,342 | 6.5% | 6.0% |
| Other Services (except Public Administration) | 1,155,900,791 | 0.2% | 0.4% |
| Administration, Business Support and Waste Management Services | 1,122,992,140 | 3.1% | 3.0% |
| Management of Companies and Enterprises | 994,624,295 | 1.9% | 2.9% |
| Arts, Entertainment & Recreation | 515,260,881 | 7.1% | 6.0% |
| Educational Services | 373,240,686 | 1.2% | 1.3% |
| Mining | 211,282,146 | 8.5% | 4.8% |
What is South Dakota's Employment by Sector?
The Healthcare & Social Assistance, Retail Trade and Manufacturing sectors contributed the most to employment in South Dakota in 2026, representing a combined 40.4% 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 | 82,792 | 1.7% | 2.0% |
| Retail Trade | 67,113 | 1.4% | 1.8% |
| Manufacturing | 47,236 | 0.6% | 0.8% |
| Accommodation & Food Services | 43,457 | 0.2% | 3.1% |
| Construction | 35,884 | 2.3% | 3.2% |
| Educational Services | 32,579 | -1.1% | -2.4% |
| Finance & Insurance | 32,270 | 1.8% | 1.6% |
| Transportation & Warehousing | 24,931 | 6.9% | 6.4% |
| Wholesale Trade | 21,735 | 1.3% | 1.1% |
| Professional, Scientific & Technical Services | 21,415 | 2.2% | 0.5% |
| Other Services (except Public Administration) | 20,610 | 1.4% | 2.8% |
| Administration, Business Support and Waste Management Services | 18,213 | 4.1% | 2.5% |
| Arts, Entertainment & Recreation | 12,982 | 2.4% | 3.3% |
| Real Estate & Rental & Leasing | 11,826 | 0.9% | 1.2% |
| Information | 6,908 | 0.7% | 3.0% |
| Utilities | 4,394 | 1.3% | 0.5% |
| Agriculture, Forestry, Fishing & Hunting | 2,536 | 3.0% | 3.3% |
| Mining | 1,052 | 0.9% | -4.4% |
State economic profile
South Dakota Employment Trends
487.9k
Employment
2.2%
Unemployment
What Employment Trends are Impacting South Dakota?
The state of South Dakota employs 487,933 people in 2026, which ranks it 46th out of all 50 US states. Employment in South Dakota has grown at an annualized rate of 1.8% over the five years to 2026, overperforming the national average of 1.7%. Major sectors by employment in South Dakota include Healthcare & Social Assistance, Retail Trade and Manufacturing, which employed 82,792, 67,113 and 47,236 people in 2026, respectively. South Dakota's unemployment rate is 2.2% in 2026, which ranks it 1st out of all 50 US states. South Dakota's unemployment rate has trended downwards at a rate of -2.4% 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 South Dakota, and compare them to the US economy, using the chart below.
What is South Dakota'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. South Dakota's DPI in 2026 was , compared to the US average of , which places it 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 South Dakota's per capita disposable income, and compare it to the US average, using the chart below.
State economic profile
South Dakota Population Statistics
Which Counties in South Dakota have the Largest Populations?
The counties with the highest populations in South Dakota are Minnehaha County, Pennington County and Lincoln County, which had populations of 216,525, 121,599 and 81,165 people in 2026.
| Region | 2026 population | Annual growth 2021-26 | Share of population |
|---|---|---|---|
| Minnehaha | 216.5k | 1.5% | 23.0% |
| Pennington | 121.6k | 1.6% | 12.9% |
| Lincoln | 81.2k | 3.5% | 8.6% |
| Brookings | 37.5k | 1.4% | 4.0% |
| Brown | 37.2k | -0.4% | 4.0% |
| Meade | 31.9k | 1.0% | 3.4% |
| Lawrence | 30.4k | 2.8% | 3.2% |
| Codington | 29.6k | 0.7% | 3.1% |
| Yankton | 23.7k | 0.3% | 2.5% |
| Beadle | 20.1k | 0.8% | 2.1% |
| Davison | 19.9k | N/A | 2.1% |
| Union | 17.6k | 0.8% | 1.9% |
| Hughes | 17.5k | -0.3% | 1.9% |
| Clay | 15.9k | 0.9% | 1.7% |
| Oglala Lakota | 13.2k | -0.6% | 1.4% |
| Butte | 11.3k | 1.4% | 1.2% |
| Lake | 11.1k | 0.1% | 1.2% |
| Roberts | 10.2k | 0.1% | 1.1% |
| Custer | 9.7k | 2.1% | 1.0% |
| Turner | 9.4k | 1.4% | 1.0% |
| Charles Mix | 9.2k | -0.1% | 1.0% |
| Todd | 9.1k | -0.5% | 1.0% |
| Fall River | 7.6k | 1.1% | 0.8% |
| Grant | 7.6k | 0.2% | 0.8% |
| Hutchinson | 7.4k | 0.1% | 0.8% |
South Dakota 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 606 South Dakota industry reports.
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