Economy

New York City dominates the economy of the state. It is the leading center of banking, finance and communication in the United States and is the location of the New York Stock Exchange (NYSE) on Wall Street, Manhattan. The Bureau of Economic Analysis estimates that in 2003, the total gross state product was $822 billion, second only to California. Its 2003 Per Capita Personal Income was $36,112, placing it 6th in the nation. New York's agricultural outputs are dairy products, cattle and other livestock, vegetables, nursery stock, and apples. Its industrial outputs are printing and publishing, scientific instruments, electric equipment, machinery, chemical products, and tourism.

New York is best known for its tertiary sector specializing in foreign trade, together with banking, port facilities, advertising, warehousing, and other activities needed to support large-scale commerce. In addition, many of the world's largest corporations locate their headquarters home offices in Manhattan or in nearby Westchester County, New York. The state also has a large manufacturing sector which includes printing, garments, furs, railroad rolling stock, and bus line vehicles. Some industries are concentrated in upstate locations also, such as ceramics (the southern tier of counties) and photographic equipment (Rochester).

There is a moderately large saltwater commercial fishery located along the Atlantic side of Long Island. The principal catches by value are clams, lobsters, squid, and flounder. There used to be a large oyster fishery in New York waters as well, but at present, oysters comprise only a small portion of the total value of seafood harvested. Perhaps the best known aspect of the fishing sector is the famous Fulton Fish Market in New York City, which distributes not only the New York catch, but imported seafood from all over the world. The famous Fulton Fish Market has been moved to the Bronx.

New York's mining sector, which is larger than most people think, is concentrated in three areas. The first is near New York City. Primarily, this area specializes in construction materials for the many projects in the city, but its also contains the emery mines of Westchester County, one of two locations in the USA where that mineral is extracted. The second area is the Adirondack Mountains. This is an area of very specialized products, including talc, industrial garnets, and zinc. It should be noted that the Adirondacks are not part of the Appalachian system, despite their location, but are structurally part of the mineral-rich Canadian Shield. Finally in the inland southwestern part of the state in the Allegheny Plateau is a region of drilled wells. The only major liquid output at present is salt in the form of brine; however, there are also small to moderate petroleum reserves in this area.