The Bureau of Economic Analysis estimates that Nevada's total state product in 2007 was $127 billion. Resort areas such as Las Vegas, Reno, Lake Tahoe, and Laughlin attract visitors from around the nation and world. In FY08 the total of 266 casinos with gaming revenue over $1m for the year, brought in revenue of $12 billion in gaming revenue, adn $13 billion in non-gaming revenue. A review of gaming statistics can be found at Nevada gaming area.

The state's Per capita personal income in 2007 was $39,853, ranking sixteenth in the nation

Its agricultural outputs are cattle, hay, alfalfa, dairy products, onions, and potatoes. Its industrial outputs are tourism, mining, machinery, printing and publishing, food processing, and electric equipment.

In portions of the state outside of the Las Vegas and Reno metropolitan areas, mining and cattle ranching are the major economic activities. By value, gold is by far the most important mineral mined. In 2004, 6.8 million ounces of gold worth $2.84 billion were mined in Nevada, and the state accounted for 8.7% of world gold production (see Gold mining in Nevada). Silver is a distant second, with 10.3 million ounces worth $69 million mined in 2004 (see Silver mining in Nevada). Other minerals mined in Nevada include construction aggregates, copper, gypsum, diatomite and lithium. Despite its rich deposits, the cost of mining in Nevada is generally high, and output is very sensitive to world commodity prices.

As of January 1, 2006 there were an estimated 500,000 head of cattle and 70,000 head of sheep in Nevada. Most of these animals forage on rangeland in the summer, with supplemental feed in the winter. Calves are generally shipped to out-of-state feedlots in the fall to be fattened for market. Over 90% of Nevada's 484,000 acres (1,960 km2) of cropland is used to grow hay, mostly alfalfa, for livestock feed.

Etymology and pronunciation

Economy