Real Gross Domestic Product: Farms (111-112) in Arkansas
ARFARMRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,469.40
Year-over-Year Change
84.41%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Farms (111-112) in Arkansas measures the inflation-adjusted economic output of the farm sector in the state. This indicator provides insights into the overall health and productivity of Arkansas's agricultural industry.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Real Gross Domestic Product: Farms (111-112) in Arkansas represents the total value of goods and services produced by the farm sector, adjusted for inflation. This metric is used by economists and policymakers to analyze trends in agricultural productivity, income, and the sector's contribution to the state's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is closely monitored by stakeholders in the agricultural industry, as well as state and federal policymakers responsible for supporting the farm sector.
Key Facts
- Arkansas's farm sector accounts for approximately 5% of the state's total GDP.
- The real GDP of Arkansas's farm industry has grown by 12% over the past decade.
- Crop production makes up the largest share of the state's farm-related economic output.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Farms (111-112) in Arkansas measures the inflation-adjusted economic output of the farm sector in the state, including crop and animal production.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the overall health and productivity of Arkansas's agricultural industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This economic trend is closely monitored by stakeholders in the agricultural industry, as well as state and federal policymakers responsible for supporting the farm sector.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, reflecting the time required to collect and process the necessary information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Farms (111-112) in Arkansas (ARFARMRGSP), retrieved from FRED.