Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Delaware
DEMINNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.10
Year-over-Year Change
2175.00%
Date Range
1/1/2006 - 10/1/2022
Summary
This economic trend measures the gross domestic product (GDP) from the mining, quarrying, and oil and gas extraction industry in Delaware. It provides insight into the economic contribution of this sector within 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 GDP from mining, quarrying, and oil and gas extraction in Delaware represents the total value of goods and services produced by this industry. It is a key indicator of the economic activity and productivity of this sector, which 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 trend is used by economists, policymakers, and industry analysts to assess the performance and significance of Delaware's extractive industries within the broader state economy.
Key Facts
- Delaware's mining, quarrying, and oil and gas extraction GDP was $302 million in 2021.
- This sector accounted for 0.7% of Delaware's total GDP in 2021.
- The GDP from this industry in Delaware has remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the mining, quarrying, and oil and gas extraction industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic contribution and performance of Delaware's extractive industries, which is useful for policymakers, industry analysts, and those evaluating the state's economic composition and growth.
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 assess the significance of Delaware's mining, quarrying, and oil and gas extraction sector within the broader state economy, which can inform policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, with the most recent figures typically available within a few months of the end of the reporting period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Delaware (DEMINNQGSP), retrieved from FRED.