Production: Mining: Total for Sweden
SWEPRMITO01IXEBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.77
Year-over-Year Change
-13.10%
Date Range
1/1/2000 - 7/1/2023
Summary
The 'Production: Mining: Total for Sweden' trend measures the overall output of the mining industry in Sweden. This is an important economic indicator for understanding Sweden's industrial productivity and resource extraction 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
This trend represents the total volume of mining production in Sweden, including the extraction of metal ores, coal, crude petroleum, natural gas, and other minerals. It is a key statistic used by economists and policymakers to assess the health and direction of Sweden's resource-based industries.
Methodology
The data is collected by the Swedish national statistical agency through surveys of mining companies and production facilities.
Historical Context
Trends in mining production are closely watched for signals about Sweden's macroeconomic conditions and global commodity market dynamics.
Key Facts
- Sweden is a major producer of iron ore, copper, and other base metals.
- Mining accounts for about 1.5% of Sweden's GDP.
- Sweden is the EU's largest producer of iron ore
FAQs
Q: What does this economic trend measure?
A: The 'Production: Mining: Total for Sweden' trend measures the overall output and volume of the mining industry in Sweden, including the extraction of metal ores, coal, crude oil, and other mineral resources.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the health and productivity of Sweden's resource-based industries, which are a significant part of the country's economy. It provides insights into Sweden's industrial output, commodity market dynamics, and macroeconomic conditions.
Q: How is this data collected or calculated?
A: The data is collected by the Swedish national statistical agency through surveys of mining companies and production facilities.
Q: How is this trend used in economic policy?
A: Trends in mining production are closely watched by economists, policymakers, and market analysts for signals about Sweden's macroeconomic conditions and global commodity market dynamics. This information can inform decisions around industrial policies, trade, and economic forecasting.
Q: Are there update delays or limitations?
A: There may be some delays in the reporting of this data, as it is collected through industry surveys. The data may also be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Production: Mining: Total for Sweden (SWEPRMITO01IXEBQ), retrieved from FRED.