SD GDP Growth Under Biden Outpaced Recent Historical Average – Dakota Free Press

Analysis of South Dakota’s Economic Growth in Relation to Sustainable Development Goals

Economic Performance Overview: 1997-2024

An examination of South Dakota’s Gross Domestic Product (GDP) from 1997 to 2024, based on data from the U.S. Bureau of Economic Analysis, reveals distinct periods of economic growth. This analysis is critical for evaluating the state’s progress towards achieving Sustainable Development Goal 8 (SDG 8), which promotes sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.

Key Growth Rate Metrics

The average annual GDP growth rates for South Dakota across different timeframes are as follows:

• 1997–2016: 5.38%
• 1997–2020: 4.90%
• 2017–2019 (Pre-COVID period): 3.45%
• 2017–2020: 3.34%
• 2021–2024: 7.85%

Assessment of Progress Towards SDG 8: Decent Work and Economic Growth

The data indicates a significant acceleration in economic growth in the post-2020 period, which has direct implications for the state’s alignment with SDG 8 targets.

1. Accelerated Economic Growth: The average annual GDP growth rate of 7.85% from 2021 to 2024 represents a substantial increase over historical trends. This accelerated growth is a primary indicator of economic dynamism, contributing directly to SDG Target 8.1, which aims to sustain per capita economic growth in accordance with national circumstances.
2. Comparative Growth Analysis: The growth rate during 2021–2024 is 1.6 times greater than the average annual growth observed in the preceding 24 years (1997–2020). This highlights a period of robust economic expansion essential for creating employment opportunities and improving living standards.
3. Post-Recession Recovery and SDG Alignment: The economic output from 2021–2024 grew 2.35 times faster than during the 2017–2020 term. This strong recovery and subsequent expansion demonstrate economic resilience and a capacity to advance the objectives of SDG 8, fostering an environment conducive to decent work and economic prosperity. The data suggests that the state’s economic trajectory is positively contributing to the broader framework of sustainable development.

Relevant Sustainable Development Goals (SDGs)

SDG 8: Decent Work and Economic Growth

• The article’s entire focus is on the economic performance of South Dakota, specifically its Gross Domestic Product (GDP). It analyzes and compares the “Average annual SD GDP growth” across different time periods and political administrations. This directly aligns with SDG 8, which aims to promote sustained, inclusive, and sustainable economic growth.

Specific SDG Targets

Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product (GDP) growth per annum in the least developed countries.

• The article explicitly discusses achieving a high rate of economic growth. It highlights that the “Average annual SD GDP growth from 2021 through 2024” was 7.85%. This figure directly relates to the objective of sustaining high GDP growth rates as mentioned in Target 8.1, demonstrating a real-world example of the economic activity this target seeks to promote.

Indicators for Measuring Progress

Indicator 8.1.1: Annual growth rate of real GDP per capita.

• The article is fundamentally based on this indicator. It repeatedly refers to the “annual rate of GDP growth” and provides specific calculated percentages for different periods (e.g., 4.90%, 7.85%, 3.34%). The analysis is derived from data on “Gross Domestic Product: All Industry Total in South Dakota,” which is the primary data used to calculate the annual growth rate of GDP, the core component of this indicator.

Summary Table: SDGs, Targets, and Indicators

Source: dakotafreepress.com