Gross Domestic Product: Natural Resources and Mining (11, 21) in the District of Columbia
DCNATRESMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.50
Year-over-Year Change
2275.00%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) contribution of the natural resources and mining industries in the District of Columbia. It provides insights into the economic importance of these sectors within the local 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
The Gross Domestic Product: Natural Resources and Mining (11, 21) in the District of Columbia series tracks the value-added output of industries related to natural resource extraction and mining activities within the District's economy. This data is used by economists and policymakers to analyze the role of these industries in the region's economic structure and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This metric is relevant for understanding the broader economic landscape and informing policy decisions related to the District of Columbia's natural resource and mining sectors.
Key Facts
- The natural resources and mining industries account for a small but significant portion of the District of Columbia's GDP.
- This metric has shown moderate fluctuations over time, reflecting changes in the local economy's industrial composition.
- Policymakers use this data to assess the economic impact of the natural resources and mining sectors and inform relevant policy decisions.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product (GDP) contribution of the natural resources and mining industries in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the economic importance of the natural resources and mining sectors within the District of Columbia's local economy, which is useful for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess the economic impact of the natural resources and mining sectors and inform relevant policy decisions for the District of Columbia.
Q: Are there update delays or limitations?
A: There may be update delays or limitations typical of economic data, but the series is regularly maintained and published by the U.S. Federal Reserve.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Natural Resources and Mining (11, 21) in the District of Columbia (DCNATRESMINNGSP), retrieved from FRED.