Gross Domestic Product: Natural Resources and Mining (11, 21) in Louisiana
LANATRESMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,975.20
Year-over-Year Change
-36.96%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the gross domestic product (GDP) generated by the natural resources and mining industries in Louisiana. It provides insight into the economic contribution of these critical sectors within the state.
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 LANATRESMINNGSP series tracks the GDP originating from Louisiana's natural resources and mining industries, which include activities such as oil and gas extraction, mining, and related support services. This data point is used by economists and policymakers to analyze the state's economic structure and dependence on natural resource-based industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This trend is closely watched by state and federal policymakers when considering economic development, taxation, and regulatory policies impacting Louisiana's natural resource industries.
Key Facts
- Louisiana's natural resources and mining industries account for over 15% of the state's GDP.
- The GDP from these sectors has fluctuated significantly in recent years due to changes in global energy prices.
- The natural resources and mining industries are a major employer in Louisiana, supporting over 100,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by Louisiana's natural resources and mining industries, including oil and gas extraction, mining, and related support services.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the economic importance and performance of Louisiana's natural resource-based industries, which are critical to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: State and federal policymakers closely monitor this trend when considering economic development, taxation, and regulatory policies impacting Louisiana's natural resource industries.
Q: Are there update delays or limitations?
A: The data is subject to regular updates by the Bureau of Economic Analysis, but may have some reporting lags or limitations in capturing the full economic activity of these industries.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Natural Resources and Mining (11, 21) in Louisiana (LANATRESMINNGSP), retrieved from FRED.