Economy of Arizona

The Economy of Arizona had a total gross state product of $373 billion in 2020. The composition of the state's economy is moderately diverse; although health care, transportation and the government remain the largest sectors.

The state's per capita income is $40,828, ranking 39th in the U.S. The state had a median household income of $50,448, making it 22nd in the country and just below the U.S. national mean. Early in its history, Arizona's economy relied on the "five C's": copper (see Copper mining in Arizona), cotton, cattle, citrus, and climate (tourism). Copper is still extensively mined from many expansive open-pit and underground mines, accounting for two-thirds of the nation's output.