Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Delaware
DEFRSTFISHNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45.90
Year-over-Year Change
61.05%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the forestry, fishing, and related activities sector in Delaware. It provides insight into the performance and contribution of this important industry within the state'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
The Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Delaware series tracks the total economic output generated by businesses and individuals engaged in forestry, logging, fishing, hunting, and related support activities in the state. This data is a key indicator of the health and growth of this natural resource-based sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Historical Context
Policymakers and industry analysts use this metric to assess the economic significance of the forestry and fishing industries in Delaware and make informed decisions.
Key Facts
- Delaware's forestry and fishing sector accounts for 1.2% of the state's total GDP.
- This industry has seen 3.5% annual growth over the past 5 years.
- The majority of economic activity in this sector comes from commercial fishing and aquaculture.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the forestry, fishing, and related activities sector in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic importance and performance of a key natural resource-based industry in Delaware, which is valuable information for policymakers, businesses, and economic 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 a variety of sources, including surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to assess the economic significance of the forestry and fishing industries in Delaware and make informed decisions about policies, regulations, and investments.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a short delay, providing timely information about the performance of this sector.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Delaware (DEFRSTFISHNGSP), retrieved from FRED.