Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Mississippi
MSAGRNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,318.00
Year-over-Year Change
75.15%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Mississippi' metric measures the economic output of these industries within the state. It is a key indicator of the health and productivity of Mississippi's natural resource-based 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 value added by the agriculture, forestry, fishing, and hunting sectors to Mississippi's overall gross domestic product. It provides important insights into the performance and composition of the state's economy, which has traditionally been reliant on natural resource extraction and processing.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state program.
Historical Context
Policymakers and analysts use this metric to assess the economic significance of Mississippi's natural resource industries and inform strategies for economic development and diversification.
Key Facts
- Mississippi's natural resource industries account for over 10% of the state's GDP.
- Forestry and logging are the largest components of this sector, contributing nearly half the total.
- The agriculture, forestry, fishing, and hunting industries employ over 100,000 workers in Mississippi.
FAQs
Q: What does this economic trend measure?
A: This metric measures the economic output or value added by the agriculture, forestry, fishing, and hunting industries in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and significance of Mississippi's natural resource-based economy, which is a critical component of the state's overall economic activity.
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 their GDP by state program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the economic importance of Mississippi's natural resource industries and inform strategies for economic development and diversification.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Mississippi (MSAGRNGSP), retrieved from FRED.