Gross Domestic Product: Government and Government Enterprises (92) in Arkansas
ARGOVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,027.20
Year-over-Year Change
40.84%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) generated by government and government enterprises in the state of Arkansas. It provides insights into the economic contribution of the public sector in the state.
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: Government and Government Enterprises (92) in Arkansas series represents the total value added to the state's economy by government activities, including federal, state, and local government agencies and public enterprises. This metric is a key indicator of the size and role of the public sector in Arkansas's economic landscape.
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
Policymakers and analysts use this trend to assess the economic influence of government activities and plan for public sector investment and reforms.
Key Facts
- Arkansas's government GDP was $20.3 billion in 2021.
- Government accounts for 12.2% of Arkansas's total GDP.
- The public sector in Arkansas has grown by 3.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by government and government enterprises in the state of Arkansas, including federal, state, and local agencies.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic influence and contribution of the public sector in Arkansas, which is crucial for policymakers, economists, and businesses to understand the state's economic landscape.
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: Policymakers and analysts use this trend to assess the economic impact of government activities and plan for public sector investment and reforms in Arkansas.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 year lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Government and Government Enterprises (92) in Arkansas (ARGOVNGSP), retrieved from FRED.