Gross Domestic Product: Mining (Except Oil and Gas) (212) in Arizona
AZMINEXOILGASNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,769.90
Year-over-Year Change
-6.24%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Mining (Except Oil and Gas) (212) in Arizona measures the economic output of the mining industry, excluding oil and gas extraction, within the state. This metric is a key indicator of the health and performance of Arizona's broader 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 economic series represents the inflation-adjusted value added by the mining sector, excluding oil and gas extraction, to Arizona's overall gross domestic product. It provides insights into the scale and productivity of the state's non-energy mineral resource extraction and processing activities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of industry surveys and economic modeling techniques.
Historical Context
This metric is used by policymakers, analysts, and businesses to gauge the relative strength and trends within Arizona's mining industry and its contributions to the state's economic performance.
Key Facts
- Arizona's mining GDP was $4.2 billion in 2021.
- Mining accounts for 2.4% of Arizona's total economic output.
- The mining industry in Arizona employs over 12,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted gross domestic product (GDP) contribution of the mining industry, excluding oil and gas extraction, within the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the scale and performance of Arizona's non-energy mineral extraction and processing activities, which are an important component of the state's overall economic output and productivity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of industry surveys and economic modeling techniques.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses use this metric to gauge the relative strength and trends within Arizona's mining industry and its contributions to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions as additional information becomes available.
Related Trends
Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Arizona
AZFOODBEVTOBMANRGSP
State Government Tax Collections, Alcoholic Beverages - Selective Sales Taxes in Arizona
AZALCOTAX
Monthly State Retail Sales: Electronics and Appliance Stores in Arizona
MSRSAZ443
All Employees: Other Services in Arizona
AZSRVO
Commercial Carbon Dioxide Emissions, Distillate Fuel for Arizona
EMISSCO2VDFCCBAZA
All Employees: Durable Goods: Fabricated Metal Product Manufacturing in Arizona
SMU04000003133200001A
Citation
U.S. Federal Reserve, Gross Domestic Product: Mining (Except Oil and Gas) (212) in Arizona (AZMINEXOILGASNGSP), retrieved from FRED.