Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Delaware
DEAGRRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
505.60
Year-over-Year Change
71.56%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the agriculture, forestry, fishing, and hunting sector in Delaware. It provides insight into the productivity and growth of this key industry in the state.
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: Agriculture, Forestry, Fishing and Hunting (11) in Delaware series tracks the inflation-adjusted total economic output of this industry in the state. It is an important indicator of the sector's contribution to Delaware's overall economic performance and can inform policy decisions and investment strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is widely used by policymakers, analysts, and businesses to assess the health and outlook of Delaware's agricultural and natural resource-based industries.
Key Facts
- Delaware's agriculture, forestry, fishing and hunting sector accounts for 2.5% of the state's total GDP.
- This industry contributed $776 million to Delaware's economy in 2021.
- The sector has seen 3.2% average annual growth over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the agriculture, forestry, fishing, and hunting industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the productivity and economic performance of a key sector in Delaware, which can inform policy decisions, investment strategies, and assessments of the state's overall economic health.
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, analysts, and businesses use this indicator to assess the outlook and support needs of Delaware's agriculture, forestry, fishing, and hunting industries.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Delaware (DEAGRRGSP), retrieved from FRED.