Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Arizona
AZAGRRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,183.50
Year-over-Year Change
-4.60%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) generated by the agriculture, forestry, fishing and hunting sector in the state of Arizona. It provides important insights into the performance and contribution of this key industry to the state's overall economic 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 Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Arizona series represents the inflation-adjusted value added by this economic sector to the state's GDP. It is a widely used indicator for analyzing the health and growth of Arizona's natural resource-based industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend is closely monitored by policymakers, industry analysts and investors to assess the competitiveness and resilience of Arizona's agricultural and natural resource sectors.
Key Facts
- Arizona's agriculture, forestry and fishing sector accounts for over 3% of the state's GDP.
- The real GDP of this sector grew by 4.2% in 2021 compared to the prior year.
- Crop production and animal husbandry are the largest contributors to this economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) generated by the agriculture, forestry, fishing and hunting sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of Arizona's natural resource-based industries to the state's overall economic activity, which is closely monitored by policymakers, industry analysts and investors.
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: This economic trend is used by policymakers, industry analysts and investors to assess the competitiveness and resilience of Arizona's agricultural and natural resource sectors, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 2-3 months, which may limit its timeliness for certain applications.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Arizona (AZAGRRQGSP), retrieved from FRED.