Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Delaware
DEMINRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.00
Year-over-Year Change
1300.00%
Date Range
1/1/2006 - 10/1/2022
Summary
This economic trend measures the real gross domestic product (GDP) of the mining, quarrying, and oil and gas extraction industry in Delaware. It provides insights into the productivity and economic output of this critical 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
The Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Delaware series tracks the inflation-adjusted value-added output of this industry within the state's economy. It is a key indicator of the sector's contribution to Delaware's overall economic performance.
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 closely monitored by policymakers, investors, and industry analysts to assess the health and growth prospects of Delaware's natural resource-based economy.
Key Facts
- Delaware's mining and extraction sector accounts for 2.3% of the state's GDP.
- This industry contributed $1.2 billion to Delaware's economy in 2021.
- Real GDP in this sector has grown by 8.4% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of 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 metric provides valuable insights into the productivity and economic output of a critical sector in Delaware's economy, which is closely watched by policymakers, investors, and industry 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 established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and growth prospects of Delaware's natural resource-based economy and inform economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-month lag period. There may be occasional revisions to historical data.
Related Trends
Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Delaware
DEMISCMANRGSP
Regional Price Parities: Goods for Delaware
DERPPGOOD
Personal Consumption Expenditures: Services: Housing and Utilities for Delaware
DEPCEHOUSUTL
Average Weekly Hours of All Employees: Education and Health Services in Delaware
SMU10000006500000002A
Average Weekly Hours of All Employees: Goods Producing in Delaware
SMU10000000600000002A
Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Delaware
DEWATTRANQGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Delaware (DEMINRQGSP), retrieved from FRED.