Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in South Carolina
SCAGRNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,750.90
Year-over-Year Change
28.03%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in South Carolina' series measures the economic output of this key industry in the state. It is an important indicator for policymakers and analysts monitoring South Carolina's economic performance and diversification.
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 inflation-adjusted gross domestic product (GDP) generated by the agriculture, forestry, fishing, and hunting sector in South Carolina. It is a vital metric for assessing the health and contribution of this primary industry to the state's overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Historical Context
Trends in this series are closely watched by state officials, agribusiness leaders, and regional economists to gauge the competitiveness and growth potential of South Carolina's natural resource-based industries.
Key Facts
- South Carolina's agriculture, forestry, fishing, and hunting sector accounted for over $5 billion in GDP in 2021.
- This industry has grown by an average of 2.5% annually over the past decade in the state.
- The sector employs over 80,000 South Carolinians, or about 4% of the state's workforce.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) generated by the agriculture, forestry, fishing, and hunting sector in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the health and economic contribution of South Carolina's natural resource-based industries, which are vital to the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Q: How is this trend used in economic policy?
A: Trends in this series are closely watched by state officials, agribusiness leaders, and regional economists to gauge the competitiveness and growth potential of South Carolina's primary industries.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in South Carolina (SCAGRNQGSP), retrieved from FRED.