Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Florida
FLFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,554.50
Year-over-Year Change
27.24%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in Florida. It provides insights into the performance and growth of this crucial industry within the state's 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
The Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Florida series tracks the inflation-adjusted economic output of this industry, which includes establishments engaged in the harvesting of timber, hunting and trapping, and fishing and aquaculture. This data is used by economists and policymakers to analyze the health and competitiveness of Florida'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 relevant for understanding the broader economic conditions and policy decisions affecting Florida's natural resource industries and their contribution to the state's overall economic performance.
Key Facts
- Florida's forestry, fishing, and related activities sector accounts for approximately 1% of the state's total GDP.
- This industry has experienced steady growth in real GDP over the past decade, outpacing the overall state economy.
- The fishing and aquaculture subsector is a significant contributor to the industry's economic output in Florida.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of a crucial natural resource-based industry within Florida's economy, which is useful for economic analysis and policymaking.
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 trend is used by economists and policymakers to understand the health and competitiveness of Florida's natural resource industries and their contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Florida (FLFRSTFISHRGSP), retrieved from FRED.