Gross Domestic Product: Support Activities for Mining (213) in Idaho
IDSAMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.70
Year-over-Year Change
6.65%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Support Activities for Mining (213) in Idaho measures the economic output of the mining support industry in the state. This indicator is important for understanding the role of the mining sector in Idaho's overall economic activity and 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 real gross domestic product (GDP) for the support activities for mining industry in the state of Idaho. It is a key indicator of the production and economic contribution of the mining support sector, which includes services like exploration, site preparation, and support for oil and gas operations.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional economic accounts.
Historical Context
Policymakers and industry analysts use this metric to assess the strength and trends within Idaho's mining support industry and its impact on the broader state economy.
Key Facts
- Idaho's mining support GDP reached $1.2 billion in 2021.
- The mining support industry accounts for 2.3% of Idaho's total economic output.
- Idaho's mining support GDP has grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real gross domestic product (GDP) of the support activities for mining industry in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the economic contribution and performance of Idaho's mining support sector, which is an important part of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to assess the strength and trends within Idaho's mining support industry and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter lag and may be subject to periodic revisions by the BEA.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Support Activities for Mining (213) in Idaho (IDSAMINNGSP), retrieved from FRED.