Gross Domestic Product: Farms (111-112) in Delaware
DEFARMNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
699.90
Year-over-Year Change
105.91%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Farms (111-112) in Delaware trend measures the economic output of the farming industry in the state of Delaware. This data is crucial for understanding the performance and contribution of the agricultural sector to the state's overall economic activity.
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 metric represents the gross domestic product originating from the farm industry, including crop and animal production, in the state of Delaware. It provides insights into the size, productivity, and importance of the agricultural economy within the broader context of Delaware's economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and economists use this trend to gauge the health and growth of Delaware's agricultural industry, which informs decision-making and policy development.
Key Facts
- Delaware's farming GDP accounts for approximately 1% of the state's total economic output.
- The farming industry in Delaware employs over 12,000 workers.
- Delaware's top agricultural products include soybeans, corn, and broiler chickens.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) originating from the farm industry, including crop and animal production, in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the size, productivity, and contribution of Delaware's agricultural sector to the state's overall economic activity, which is crucial for policymakers and economists.
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 economists use this trend to gauge the health and growth of Delaware's agricultural industry, which informs decision-making and policy development related to the state's economic priorities.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays due to the nature of national economic accounting.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Farms (111-112) in Delaware (DEFARMNGSP), retrieved from FRED.