Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Arkansas
ARMINEXOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
289.70
Year-over-Year Change
-16.08%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) generated by the mining industry, excluding oil and gas, in the state of Arkansas. It provides insight into the performance and contribution of this sector to the state's overall economic activity.
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: Mining (Except Oil and Gas) (212) in Arkansas metric tracks the inflation-adjusted value added by the mining industry, excluding oil and gas extraction, to the state's GDP. This data is useful for analyzing the economic health and productivity of Arkansas' non-energy mining sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product account (NIPA) methodology.
Historical Context
This trend is relevant for policymakers, economists, and investors interested in understanding the dynamics of Arkansas' economic composition and growth drivers.
Key Facts
- Arkansas' mining industry (excluding oil and gas) accounts for approximately 2% of the state's GDP.
- The mining sector's real GDP in Arkansas has grown by an average of 1.5% annually over the past decade.
- Metallic mineral mining and nonmetallic mineral mining are the two largest components of Arkansas' non-energy mining industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product generated by the mining industry, excluding oil and gas extraction, in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and economic contribution of Arkansas' non-energy mining sector, which is an important component of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product account (NIPA) methodology.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers, economists, and investors interested in understanding the dynamics of Arkansas' economic composition and growth drivers.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with potential delays of several months before the most recent figures are available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Arkansas (ARMINEXOILGASRGSP), retrieved from FRED.