The Bureau of Economic Analysis estimates that New Hampshire's total state product in 2003 was $49 billion. Personal income in 2005 was $37,835, 6^th in the nation and 10 percent greater than the national average ($34,495). Its agricultural outputs are dairy products, nursery stock, cattle, apples and eggs. Its industrial outputs are machinery, electric equipment, rubber and plastic products and tourism. New Hampshire experienced a significant shift in its economic base during the last century. Historically, the base was composed of the traditional New England manufactures of textiles, shoe-making, and small machining shops drawing upon low-wage labor from nearby small farms and from parts of Quebec. Today, these sectors contribute only 2% for textiles, 2% for leather goods, and 9% for machining of the state's total manufacturing dollar value (Source: U.S. Economic Census for 1997, Manufacturing, New Hampshire). They experienced a sharp decline due to obsolete plants and the lure of cheaper wages in the South.

The state has no general sales tax, no personal state income tax (the state does tax, at a 5 percent rate, income from dividends and interest) and the legislature has exercised fiscal restraint. Efforts to diversify the state's general economy have been ongoing.

Additionally, New Hampshire's lack of a broad-based tax system (aside from the controversial state-wide property tax) has resulted in the state's local communities having some of the nation's highest property taxes. Overall, New Hampshire remains ranked 49th among states in combined average state and local tax burden.

State Index | Information | Fast Facts | Geography | Government | Economy | History