Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Nebraska
NEMINNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
235.50
Year-over-Year Change
10.00%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product (GDP) for the mining, quarrying, and oil and gas extraction industry in Nebraska measures the total economic output of this sector. It is a key indicator of the overall health and performance of this important industry within 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
This GDP series represents the total value of goods and services produced by the mining, quarrying, and oil and gas extraction industry in Nebraska. It is a useful metric for analyzing the relative importance and contribution of this sector to the state's economic growth and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this data to assess the economic performance and outlook for Nebraska's natural resource extraction industries.
Key Facts
- Nebraska's mining, quarrying, and oil and gas extraction GDP was $3.8 billion in 2021.
- This industry accounted for 2.9% of Nebraska's total GDP in 2021.
- GDP in this sector grew by 25.5% in Nebraska from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or Gross Domestic Product (GDP) of the mining, quarrying, and oil and gas extraction industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This GDP data is an important indicator of the performance and economic contribution of Nebraska's natural resource extraction industries, which are a key part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the economic performance and outlook for Nebraska's mining, quarrying, and oil and gas extraction industries, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 1-2 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Nebraska (NEMINNQGSP), retrieved from FRED.