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economy focus<br />
& fact file<br />
alaska<br />
Capital: Juneau Dialling code: +1<br />
Population: 736,081 Currency: US Dollar<br />
Governor: Mike Dunleavy<br />
Official languages: In addition to English (one of<br />
the state’s official languages), Alaska is home to at<br />
least 20 distinct official native languages<br />
Time zone: UTC -9<br />
Top trading partners:<br />
Canada, China, Australia, Japan, Switzerland<br />
$55 billion GDP (nominal)<br />
$72,286 GDP per capita (nominal)<br />
8.7% GDP growth rate<br />
5.1% Unemployment rate<br />
Alaska must be licensed by<br />
the state. For some hunts in<br />
Alaska, it is possible to hire a<br />
transporter instead of a guide.<br />
These are licensed individuals<br />
and companies who help<br />
hunters get to remote areas by<br />
bush plane, boat, horse, ATV,<br />
snow machine, etc.<br />
Hunting and guided<br />
hunting, in particular, has<br />
a huge economic impact on<br />
Alaska. A large study by The<br />
Alaska Professional Hunters<br />
Association in 2019 found<br />
that the total amount that<br />
the guided hunting industry<br />
brought into the Alaskan<br />
economy was $91.8 million.<br />
The guided hunting<br />
industry circulated $57.4<br />
million in the Alaska<br />
economy as labour income<br />
and spending for goods<br />
and services. Whilst $31.9<br />
million was spent directly<br />
with businesses in Alaska by<br />
guides and visiting hunters.<br />
Multiplier effects generated<br />
an additional $19.1 million<br />
In 2022, the state of Alaska had a population of<br />
731,869, having declined an annualised -0.2 per cent<br />
over the five years to 2022, which ranks it 47th out<br />
of all 50 US states by growth rate. Alaska’s gross<br />
state product (GSP) in 2022 reached $49.6b, with<br />
growth of -1.7 per cent over the five years to 2022.<br />
Businesses in Alaska employed a total of 472,561<br />
people in 2022, with average annual employment<br />
growth over the past five years of -0.9 per cent. The<br />
top three sectors by total employment are Mining,<br />
Transportation and Warehousing, Real Estate and<br />
Rental and Leasing, while the unemployment rate<br />
across the state in 2022 was 5.1 per cent.<br />
In 2022, Alaska’s GDP reached $49.6b,<br />
representing a decrease of -1.7 per cent from 2021.<br />
Alaska’s GDP has declined at an annualized rate of<br />
-1.3 per cent over the five years to 2022.<br />
The largest industries by revenue in Alaska are<br />
Tourism, Oil Drilling & Gas Extraction and Gasoline<br />
& Petroleum Bulk Stations, which generated $70.1b,<br />
$34.5b and $10.7b in 2022.<br />
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