Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Idaho
IDAGRNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,040.50
Year-over-Year Change
-12.07%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Idaho' trend measures the economic output of these key industries in the state. This data is vital for policymakers and analysts to understand the drivers of Idaho'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
This series represents the real gross domestic product (GDP) originating from the agriculture, forestry, fishing, and hunting industries in the state of Idaho. It is an important indicator of the productivity and health of these core sectors that play a major role in Idaho's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on various industry surveys and economic modeling.
Historical Context
Trends in Idaho's agricultural GDP are closely monitored by policymakers, industry groups, and economic forecasters to assess the state's overall economic performance and outlook.
Key Facts
- Idaho is a major agricultural state, contributing over $7 billion annually to the U.S. economy.
- Dairy products are Idaho's largest agricultural commodity, generating over $2.2 billion in revenue.
- The state's agricultural GDP has grown by an average of 2.5% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) originating from the agriculture, forestry, fishing, and hunting industries in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: Trends in Idaho's agricultural GDP are closely monitored by policymakers, industry groups, and economic forecasters to assess the state's overall economic performance and outlook.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on various industry surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry groups to understand the drivers of Idaho's economy and inform decisions related to agricultural, natural resource, and economic development policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 2-3 months. There may be revisions to past data as new information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Idaho (IDAGRNQGSP), retrieved from FRED.