Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Minnesota
MNAGRNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,084.90
Year-over-Year Change
-80.71%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the Gross Domestic Product (GDP) of the agriculture, forestry, fishing, and hunting sector in Minnesota. It provides important insights into the performance and contribution of these industries to the state's overall economic activity.
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 MNAGRNQGSP series represents the total output, or value added, of the agriculture, forestry, fishing, and hunting industries within Minnesota's GDP. It is a key indicator used by economists and policymakers to analyze the state's economic structure, monitor sectoral performance, and inform policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
This trend is widely used by government agencies, research institutions, and businesses to understand the dynamics of Minnesota's economy and its key industries.
Key Facts
- Minnesota's agriculture, forestry, fishing, and hunting sector accounts for approximately 3% of the state's total GDP.
- This sector has experienced steady growth over the past decade, contributing to Minnesota's overall economic expansion.
- The performance of this industry is closely tied to weather patterns, commodity prices, and global trade dynamics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the agriculture, forestry, fishing, and hunting sector in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of these key industries to Minnesota's overall economic activity, which is essential for policymakers, researchers, 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 using national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: This trend is widely used by government agencies, research institutions, and businesses to understand the dynamics of Minnesota's economy and its key industries, informing policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with some potential for minor revisions over time. There may be occasional delays in data availability due to the comprehensive nature of the national income and product accounts.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Minnesota (MNAGRNQGSP), retrieved from FRED.