North Dakota's economy saw big boost in 2022, tax department reports
Taxable sales and purchases rose nearly 18 percent in 2022 compared with 2021.
BISMARCK — North Dakota’s economy is rebounding from challenges tied to the COVID-19 pandemic, as taxable sales and purchases posted a nearly 18% increase in 2022.
Taxable sales and purchases totaled $23.9 billion, up 17.7% from the $20.3 billion posted in 2021, according to a report released Wednesday, March 22, by the office of Tax Commissioner Brian Kroshus.
The increase “illustrates a strong, post-pandemic business recovery across the state and a return to more normalized conditions following a particularly challenging year in 2021,” Kroshus said.
Of the 15 major industry sectors, 14 reported increased taxable sales and purchases compared with 2021. Wholesale trade increased $1.5 billion (up 37.5%), and mining and oil extraction increased $674.7 million (up 43.5%). The increase in retail trade was $410.4 million (a 5% gain).
Kroshus said North Dakota’s economy performed very well, despite supply chain issues and inflation.
“Favorable commodity pricing in both energy and agriculture, our state’s top two industries, led the way and had a positive impact on our economy as a whole,” Kroshus said.
North Dakota’s largest cities saw positive percentage increases in taxable sales and purchases in 2022 compared with 2021:
- Williston – up 29.2%
- Dickinson – up 13.3%
- Minot – up 10.4%
- Fargo – up 5.1%
- Grand Forks – up 4.7%
- Bismarck – up 3.7%
Other places among the state’s 200 largest cities that posted significant percentage increases in taxable sales and purchases were:
- Saint Thomas – up 89.3%
- Westhope – up 78.8%
- Buxton – up 76.1%
- Napoleon – up 74.9%
- Golden Valley – up 62.5%
Among the state’s 53 counties, the highest percent increases were posed by:
- Logan – up 66.8%
- Dunn – up 40.7%
- Pembina – up 36.3%
- Nelson – up 34.2%
- Traill – up 33.8%
Taxable sales and purchases for the fourth quarter of 2022 (October, November and December) topped $6 billion, an increase of more than 17% over the same period in 2021.
Of the 50 largest cities in the state, the highest percentage increases for the fourth quarter of 2022 were posted by Cavalier, Mayville, New Town, Kenmare and Tioga. Counties with the highest percentage increases were Logan, McHenry, LaMoure, Traill and Nelson.
All 15 major industry sectors reported an increase in taxable sales and purchases for fourth quarter 2022 compared with the same period in 2021.
The complete 2022 annual and fourth quarter state sales and use tax statistical reports are available online at tax.nd.gov/data.