Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Virginia
VAPETCOALMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
511.20
Year-over-Year Change
212.09%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the petroleum and coal products manufacturing industry in Virginia. It is an important indicator for understanding the state's economic output and energy-related industrial 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 Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Virginia metric tracks the total value of goods and services produced by this specific manufacturing sector within the state. It provides insight into the relative size and performance of Virginia's energy processing and refining industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This GDP indicator can inform policy decisions and market analysis related to Virginia's energy infrastructure, industry regulations, and economic diversification.
Key Facts
- Virginia is a major energy-producing state.
- Petroleum and coal products are a significant component of the state's manufacturing output.
- This GDP metric has shown volatility due to fluctuations in global energy markets.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) of the petroleum and coal products manufacturing industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This GDP indicator provides insight into the size and performance of Virginia's energy processing and refining industries, which are important to the state's economy and energy infrastructure.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This GDP metric can inform policy decisions and market analysis related to Virginia's energy infrastructure, industry regulations, and economic diversification.
Q: Are there update delays or limitations?
A: As with most economic data, there may be update delays and revisions to this series over time.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Virginia (VAPETCOALMANNGSP), retrieved from FRED.