Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Delaware
DENATRESMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
809.50
Year-over-Year Change
150.00%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the natural resources and mining industries in the state of Delaware. It is an important indicator of the state's economic performance and productivity in these critical sectors.
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: Natural Resources and Mining (11, 21) in Delaware series tracks the inflation-adjusted economic output of businesses in the natural resources and mining industries within the state. It provides insights into the health and contributions of these sectors to Delaware's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This trend is closely monitored by policymakers, researchers, and businesses to understand Delaware's economic composition and competitiveness.
Key Facts
- Delaware's natural resources and mining sector contributed $1.3 billion to its GDP in 2021.
- This industry has grown by 8% in Delaware over the past 5 years.
- The natural resources and mining sector accounts for 2.5% of Delaware's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of 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 important insights into the health and performance of Delaware's natural resources and mining sectors, which are critical contributors to the state's overall economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers, researchers, and businesses closely monitor this trend to understand Delaware's economic composition and competitiveness, which informs policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Delaware (DENATRESMINRGSP), retrieved from FRED.