Kansas has established a well-developed banking system which operates under the United States laws. The Bureau of Economic Analysis gives the estimates that the total GDP in Kansas was as much as $122.7 billion, making it the United States's 32-nd highest state by GDP. The level of unemployment is 6.4%.

The main agricultural outputs of the state are sheep, cattle, wheat, sorghum, soybeans, cotton, hogs, corn, and salt. Eastern Kansas itself is part of so called Grain Belt, an area of major grain production in the central United States. The major industrial outputs are transportation equipment, aircraft (both commercial and private), food processing as well as publishing, chemical products, mining, machinery, apparel, petroleum.

Kansas is among the TOP-10 of largest U.S. oil producers. Production has experienced a some decline which is fully natural as it becomes increasingly difficult to extract oil over time. Since the oil prices bottomed in 1999, oil production in Kansas has remained fairly constant. Though, the recent higher prices have made carbon dioxide sequestration and other oil recovery techniques more economical.

Kansas is also listed among TOP-10 of largest U.S. natural gas producers. Production has also steadily declined since the mid-1990s with the gradual depletion of the Hugoton Natural Gas Field � the state's largest field which extends into Oklahoma and Texas.

Talking about The Kansas economy, it's important to mention that it is influenced by the aerospace industry. Large aircraft corporations have manufacturing facilities in Kansas City and Wichita among which there are Spirit AeroSystems, Boeing, Learjet, Cessna, and Hawker Beechcraft (formerly known as Raytheon).

Major company headquarters in Kansas include the Sprint Nextel Corporation (with world headquarters in Overland Park), Embarq (with national headquarters in Overland Park), YRC Worldwide (Overland Park), Garmin (Olathe), Payless Shoes (National headquarters and major distribution facilities in Topeka), and Koch Industries (with national headquarters in Wichita).

Kansas has three income brackets for income tax calculation, ranging from 3.5% to 6.45%. The state sales tax in Kansas is 5.3%. Various cities and counties in Kansas have an additional local sales tax. Except during the 2001 recession (March�November 2001) when monthly sales tax collections were flat, collections have trended higher as the economy has grown and two rate increases have been enacted. Total sales tax collections for 2003 amounted to $1.63 billion, compared to $805.3 million in 1990.

Revenue shortfalls resulting from lower than expected tax collections and slower growth in personal income following a 1998 permanent tax reduction has contributed to the substantial growth in the state's debt level as bonded debt increased from $1.16 billion in 1998 to $3.83 billion in 2006. Some increase in debt was expected as the state continues with its 10-year Comprehensive Transportation Program enacted in 1999. As of June 2004, Moody's Investors Service ranked the state 14th for net tax-supported debt per capita. As a percentage of personal income, it was at 3.8%�above the median value of 2.5% for all rated states and having risen from a value of less than 1% in 1992. The state has a statutory requirement to maintain cash reserves of at least 7.5% of expenses at the end of each fiscal year, however, lawmakers can vote to override the rule, and did so during the most recent budget agreement.