Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Illinois
ILAGRNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,122.70
Year-over-Year Change
-81.90%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) contribution of the agriculture, forestry, fishing, and hunting (NAICS 11) industry in Illinois. It provides insights into the size and performance of this critical sector of 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 ILAGRNQGSP series represents the real gross value added by the agriculture, forestry, fishing, and hunting industry in Illinois. It is a key indicator of the productivity and economic importance of this sector, which plays a vital role in the state's overall economic activity and output.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state program.
Historical Context
This trend is used by policymakers, economists, and industry analysts to assess the health and growth of Illinois' agricultural and natural resource-based economy.
Key Facts
- Illinois is a major agricultural producer, ranking among the top states for corn, soybeans, and hogs.
- The agriculture, forestry, fishing, and hunting industry accounts for over 1% of Illinois' total GDP.
- This trend has shown steady growth in recent years, reflecting the strength of Illinois' farm and natural resource sectors.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the agriculture, forestry, fishing, and hunting industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the size, performance, and economic significance of Illinois' agricultural and natural resource-based sectors, which are vital components of the state's overall economy.
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 GDP by state program.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts use this trend to assess the health and growth of Illinois' agriculture-focused economy, which informs policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Illinois (ILAGRNQGSP), retrieved from FRED.