Gross Domestic Product: Natural Resources and Mining (11, 21) in Indiana
INNATRESMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,009.20
Year-over-Year Change
20.85%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) contribution of the natural resources and mining sectors in the state of Indiana. It provides insights into the importance of these industries 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 INNATRESMINNGSP series tracks the GDP generated by the natural resources and mining industries in Indiana. This data is useful for economists and policymakers to understand the economic composition and performance of key sectors within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state estimates.
Historical Context
This trend is relevant for understanding Indiana's economic drivers and the role of natural resource extraction and processing industries.
Key Facts
- Indiana's natural resources and mining GDP was $4.6 billion in 2021.
- The sector accounts for 1.9% of Indiana's total GDP.
- GDP from natural resources and mining has increased by 18% since 2012.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) contribution of the natural resources and mining sectors in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the importance of natural resource extraction and processing industries to Indiana's economy, which is relevant for economists, policymakers, 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 as part of their GDP by state estimates.
Q: How is this trend used in economic policy?
A: This trend can inform economic development strategies, tax policies, and regulations related to natural resource industries in Indiana.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year may not be immediately available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Natural Resources and Mining (11, 21) in Indiana (INNATRESMINNGSP), retrieved from FRED.