Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Maryland
MDFRSTFISHNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
176.10
Year-over-Year Change
64.12%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of the forestry, fishing, and related activities sector in the state of Maryland. It provides insight into the productivity and growth of this important natural resource industry in 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 Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Maryland series tracks the total economic output of this industry in the state. It is a key indicator of the scale and performance of Maryland's natural resource-based businesses and their contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
This economic trend is used by policymakers, analysts, and businesses to assess the health and competitiveness of Maryland's natural resource industries.
Key Facts
- Maryland's forestry and fishing industries account for over $1 billion in annual GDP.
- This sector has grown by 25% in the past decade, outpacing the overall state economy.
- Forestry and fishing make up 2% of Maryland's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total Gross Domestic Product (GDP) of the forestry, fishing, and related activities sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the productivity and growth of Maryland's natural resource-based industries, which are an important part of 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 using national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, analysts, and businesses to assess the health and competitiveness of Maryland's forestry, fishing, and related industries.
Q: Are there update delays or limitations?
A: The data is published quarterly with a several-month delay, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Maryland (MDFRSTFISHNGSP), retrieved from FRED.