Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Arkansas
ARMINNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
986.90
Year-over-Year Change
0.22%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Arkansas' series measures the economic output of the mining, quarrying, and oil and gas extraction industry in the state of Arkansas. This data is crucial for understanding the role of the energy and natural resource sectors in Arkansas' overall economic performance.
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 series represents the gross domestic product (GDP) originating from the mining, quarrying, and oil and gas extraction industries in Arkansas. It provides insights into the relative size and contribution of these sectors to the state's economy, which can inform policy decisions and investment strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Historical Context
Policymakers and industry analysts use this data to assess the health and economic importance of Arkansas' energy and natural resource sectors.
Key Facts
- Arkansas' mining, quarrying, and oil and gas extraction sector accounts for approximately 3% of the state's total GDP.
- The industry employs over 15,000 workers in Arkansas, contributing significantly to local job markets.
- This data series dates back to 2005, providing a historical perspective on the industry's performance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) originating from the mining, quarrying, and oil and gas extraction industries in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the role and economic importance of the energy and natural resource sectors in Arkansas, which can inform policy decisions and investment strategies.
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 state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to assess the health and economic significance of Arkansas' mining, quarrying, and oil and gas extraction sectors.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with occasional revisions to account for new information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Arkansas (ARMINNQGSP), retrieved from FRED.