Gross Domestic Product: Oil and Gas Extraction (211) in Arkansas
AROILGASNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
215.20
Year-over-Year Change
-90.46%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Oil and Gas Extraction (211) in Arkansas measures the economic output of the oil and gas extraction industry in the state. This metric is important for understanding the role of the energy sector in Arkansas's broader economy.
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 series represents the real gross domestic product (GDP) of the oil and gas extraction industry (NAICS code 211) in the state of Arkansas. It is a key indicator of the size and performance of this important economic sector within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and industry analysts closely monitor this metric to assess the health and competitiveness of Arkansas's energy industry.
Key Facts
- Arkansas is a major oil and gas producing state.
- The oil and gas extraction industry accounts for a significant portion of the state's GDP.
- This metric tracks the real economic output of the sector, adjusted for inflation.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real gross domestic product (GDP) of the oil and gas extraction industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the role and performance of the energy sector within Arkansas's broader 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 accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this metric to assess the health and competitiveness of Arkansas's energy industry.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, with occasional delays or revisions typical of government economic statistics.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Oil and Gas Extraction (211) in Arkansas (AROILGASNGSP), retrieved from FRED.