Gross Domestic Product: Natural Resources and Mining (11, 21) in Delaware
DENATRESMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,016.70
Year-over-Year Change
143.93%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) generated by the natural resources and mining industries in the state of Delaware. It provides insights into the importance of these sectors to 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: Natural Resources and Mining (11, 21) in Delaware series tracks the economic output of industries related to the extraction, harvesting, and processing of natural resources, as well as mining activities, within the state. This data is useful for analyzing the role of these industries in Delaware's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This trend is relevant for policymakers, economists, and businesses interested in understanding the contribution of natural resources and mining to Delaware's economic landscape.
Key Facts
- Delaware's natural resources and mining GDP accounts for a small portion of the state's overall economic output.
- The mining industry in Delaware is primarily focused on the extraction of sand, gravel, and other industrial minerals.
- Fluctuations in this trend can signal changes in the state's reliance on natural resource-based industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the natural resources and mining industries in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the importance of natural resources and mining to Delaware's overall economic performance, which is useful for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers, economists, and businesses interested in understanding the contribution of natural resources and mining to Delaware's economic landscape.
Q: Are there update delays or limitations?
A: The data is subject to the update schedule and potential limitations of the U.S. Bureau of Economic Analysis' regional GDP estimates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Natural Resources and Mining (11, 21) in Delaware (DENATRESMINNGSP), retrieved from FRED.