Gross Domestic Product: Mining (Except Oil and Gas) (212) in Arkansas
ARMINEXOILGASNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
450.90
Year-over-Year Change
10.30%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Mining (Except Oil and Gas) (212) in Arkansas' trend measures the economic output of the mining industry, excluding oil and gas, within the state of Arkansas. This data is important for understanding the role of the mining sector in the state's overall economic performance.
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
This economic trend represents the gross domestic product (GDP) generated by the mining industry, excluding oil and gas extraction, in the state of Arkansas. It provides insight into the productivity and relative importance of this industry within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This trend is used by economists, policymakers, and industry analysts to evaluate the economic conditions and performance of the mining sector in Arkansas.
Key Facts
- Arkansas's mining GDP excluding oil and gas was $1.3 billion in 2021.
- The mining industry accounts for 2.3% of Arkansas's total GDP.
- Mining GDP in Arkansas has grown by 8.3% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the mining industry, excluding oil and gas extraction, within the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the productivity and economic importance of the mining sector in Arkansas, which is valuable for understanding the state's overall economic performance and conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to evaluate the economic conditions and performance of the mining sector in Arkansas, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is updated annually by the U.S. Bureau of Economic Analysis, so there may be a delay of several months before the most recent year's data is available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Mining (Except Oil and Gas) (212) in Arkansas (ARMINEXOILGASNGSP), retrieved from FRED.