S2_11-15-04

• Basin: Statewide
• Title: SWSI Phase 1 Report - Section 2 Statewide Demographic, Economic, and Social Setting
• Date: 11/15/2004
• Author: CWCB
• SWSI - Doc Type: Final Report

Section 2
Statewide Demographic, Economic, and Social Setting
2.2.2.2 Farm Gross State Product
The U.S. Department of Commerce's Bureau of
Economic Analysis reports that the GSP in Colorado
attributable to farming rose from $676 million in 1977 to
$1.5 billion in 2001 in current (nominal or not adjusted for
inflation) dollars. Table 2-7 is a summary of trends in the
agriculture component of Colorado's economy from 1977
to 2001 relative to the agriculture component of the U.S.
economy gross domestic product (GDP) through the
same period.
The value of farm output in Colorado and total Colorado
GSP in real (chained or adjusted for inflation) dollars is
shown in Table 2-8. The GSP that is attributable to
Colorado farms rose from $1.20 billion in 1986 to
$2.15 billion in 2001 in 1996 dollars. However, the
relative percentage of the farm sector contribution to the
cumulative chained-dollar GSP for all industries in
Colorado has remained relatively stable over the same
period - between 1 and 2 percent, as shown in
Table 2-7.
Table 2-7 Nominal Gross State Product Attributable to Colorado Farms, Total Colorado Industry, and United States Farms from 1977 to
2001 in Current Millions of Dollars
Table 2-8 Real GSP Attributable to Colorado's Farms, Total Colorado Industry, and United States Farms from 1986 to 2001 in Millions of
Dollars (1996 Dollarsl
1986 1,200 80,012 77,484 1.5% 1.5%
1990 1,633 86,973 84,155 1.9% 2.1%
1995 1,339 111,244 85,452 1.2% 1.7%
2000 1,887 158,173 120,488 1.2 % 2.4%
2001 2,152 159,308 114,317 1.4% 2.8%
Source: U.S. Bureau of Economic Analysis: (www.bea.doc.gov/bea/regional/gspn.
Table 2-9 Emplovment in Farmina versus Emplovment in All Colorado Industries: 1970-2000
44
Farming Percentage 4.5% 3.5% 2.8% 2.2% 2.1 % 1.6% 1.5%
Source: U.S. Bureau of Economic Analysis: (www.bea.gov/bea/regional/reis/default.cfrn#la)
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Source: U.S. Bureau of Economic Analysis: (www.bea.doc.gov/bea/regional/gspn.