Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Arizona
AZFRSTFISHNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
808.30
Year-over-Year Change
56.16%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Arizona tracks the economic output of these industries in the state. It provides insight into a key sector of Arizona's 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 measures the real (inflation-adjusted) gross domestic product contributed by the forestry, fishing, and related activities industries in the state of Arizona. It is a valuable indicator of the health and productivity of these natural resource-based economic activities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP by industry statistics.
Historical Context
Policymakers and analysts use this metric to assess the performance and economic importance of Arizona's forestry and fishing sectors.
Key Facts
- Arizona's forestry and fishing industries contributed $1.2 billion to state GDP in 2021.
- The sector accounts for 0.6% of Arizona's total economic output.
- Forestry and fishing employment in Arizona totaled 10,500 jobs in 2021.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real gross domestic product (GDP) generated by the forestry, fishing, and related activities industries in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic performance and importance of Arizona's natural resource-based industries, which are a key part 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 as part of its state-level GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and contribution of Arizona's forestry and fishing sectors, which informs economic development and natural resource management decisions.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of this data, as it is part of the comprehensive GDP by industry reporting.
Related Trends
State Government Tax Collections, Total Income Taxes in Arizona
AZTLINCTAX
Real Gross Domestic Product: Private Industries in Arizona
AZPIRGSP
Average Weekly Hours of All Employees: Private Service Providing in Arizona
SMU04000000800000002A
Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Arizona
AZTEXTNGSP
Pandemic Unemployment Assistance Initial Claims in Arizona
PUAICAZ
Real Gross Domestic Product: Private Industries in Arizona
AZPIRQGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Arizona (AZFRSTFISHNGSP), retrieved from FRED.