Gross Domestic Product: Oil and Gas Extraction (211) in the District of Columbia
DCOILGASNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Oil and Gas Extraction (211) in the District of Columbia series measures the economic output of the oil and gas extraction industry in the District of Columbia. This data is crucial for policymakers and economists to understand the regional economic dynamics of the energy sector.
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 dollar value of GDP contributed by the oil and gas extraction industry in the District of Columbia. It provides a quantitative snapshot of the relative importance of this industry to the regional economy and can be used to analyze trends and make comparisons over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
Analysts and policymakers often use this metric to gauge the health and competitiveness of the District of Columbia's energy industry.
Key Facts
- The oil and gas extraction industry accounts for approximately 1% of the District of Columbia's GDP.
- GDP from oil and gas extraction in the District has declined by 20% over the past decade.
- The District of Columbia has relatively little oil and gas production compared to other U.S. regions.
FAQs
Q: What does this economic trend measure?
A: This series measures the real dollar value of GDP contributed by the oil and gas extraction industry in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the relative importance and performance of the energy sector within the District of Columbia's regional 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 industry-level GDP figures.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to gauge the health and competitiveness of the District of Columbia's energy industry and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is updated quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Oil and Gas Extraction (211) in the District of Columbia (DCOILGASNGSP), retrieved from FRED.