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GDP of state in 2003 made 102 billion US dollars, the income per capita made $28,340.

Iowa is the leading agricultural state (in 1989 it was the share of each 27 inhabitants on one farm). In agriculture the corn, soy, oats, meat animal husbandry dominate (state is in the lead on production of pork). Excess use of chemicals led to serious environmental problems that forces many farmers to pass to environmentally friendly agriculture.

The industry is focused on service of needs of agriculture.

To the 1980th in state there was a developed services sector in which more people are occupied, than in agriculture and the industry in general (Des Moines is the large center of insurance business).

After serious economic difficulties of the 80th of the XX century intensive diversification of economy began (development of electronics, partial legalization of a gaming, etc.).