Real Gross Domestic Product: Natural Resources and Mining (11, 21) in North Carolina
NCNATRESMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,200.70
Year-over-Year Change
77.33%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the natural resources and mining sector in North Carolina. It provides insight into the productivity and economic impact of this key industry 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 Real Gross Domestic Product: Natural Resources and Mining (11, 21) in North Carolina series represents the inflation-adjusted value-added output of the natural resources and mining industries in the state. It is an important indicator of the sector's contribution to the overall state economy.
Methodology
This data is calculated by the U.S. Bureau of Economic Analysis using production and price indices.
Historical Context
Policymakers and analysts use this metric to assess the health and competitiveness of North Carolina's natural resources and mining industries.
Key Facts
- Natural resources and mining account for 3.2% of North Carolina's GDP.
- This sector has grown by 2.1% annually over the past 5 years.
- North Carolina ranks 7th nationally in natural resources and mining GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the natural resources and mining sector in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and economic importance of the natural resources and mining industries within North Carolina, which is crucial for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price indices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health, competitiveness, and growth of North Carolina's natural resources and mining sector, which informs economic development strategies.
Q: Are there update delays or limitations?
A: This data is published quarterly with a 2-month lag, so there may be delays in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Natural Resources and Mining (11, 21) in North Carolina (NCNATRESMINRGSP), retrieved from FRED.