This Is How Many Gun Stores There Are In Rhode Island

By Samuel Stebbins, 24/7 Wall St. Providence

July 27, 2022

There are over 393 million guns in circulation in the U.S., according to estimates from the Small Arms Survey, far outnumbering the national population of 327 million. In the United States – the only country in the world home to more civilian-owned guns than people – guns are big business.

While the appropriate balance between gun rights and public safety is a hot button political issue, the economics of the firearm industry are less controversial. According to The Firearm Industry Trade Association, guns and ammunition had a total economic impact of over $70.5 billion in 2021 – generating over a billion dollars in tax revenue and providing hundreds of thousands of jobs.

According to data from the Bureau of Alcohol, Tobacco, Firearms, and Explosives, there were 74 federally licensed dealers or pawn brokers of firearms in Rhode Island as of January 2022, or 7.0 for every 100,000 people – the fifth fewest among states.

The concentration of gun stores reflects current demand for firearms in the state, as Rhode Island ranks in the bottom half for both measures, adjusting for population. FBI firearm background check data, which is a close proxy for firearm sales, shows that an estimated 15,157 guns were sold in Rhode Island in the first half of 2022, or 1,433 for every 100,000 people, the fourth fewest among states.

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This story was originally published by 24/7 Wall St., a news organization that produces real-time business commentary and data-driven reporting for state and local markets across the country.