North Dakota’s taxable sales and purchases for the third quarter of 2021 climbed 12.1% compared to the same timeframe in 2020. Taxable sales and purchases for July, August, and September of 2021 were $5.32 billion.
Tax Commissioner Brian Kroshus says the upward trend in the third quarter shows economic growth. “I am optimistic that the trend will continue, as the economy stabilizes from the impacts of the pandemic.”
Fourteen of the 15 major sectors reported taxable sales and purchases increases when compared to the third quarter of 2020. Most notably, the mining and oil extraction sector increased by $111 million (a 37.3% increase) and the retail trade sector increased by $140 million (a 7.5% increase).
“It’s encouraging to see the quarterly increase, as well as the positive growth in specific industries, such as retail trade; arts, entertainment, and recreation; accommodation and food services; and mining and oil extraction,” stated Kroshus. “With almost all of the industries showing growth, the overall economy is moving in a positive direction.”
Percent changes for the third quarter of 2021 (compared to the third quarter of 2020) for the top four largest cities in North Dakota were as follows:
- Fargo – Increase of 12.9%
- Bismarck – Increase of 5.6%
- Minot – Increase of 4.6%
- Grand Forks – Increase of 2.4%
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