Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in South Carolina
SCFRSTFISHNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
640.20
Year-over-Year Change
73.07%
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 South Carolina. It provides insight into the performance and contribution of this key industry to the state's 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
The GDP of the forestry, fishing, and related activities sector in South Carolina represents the total value of goods and services produced by businesses in this industry. It is an important indicator of the economic health and productivity of this natural resource-based sector within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This trend is used by policymakers, analysts, and businesses to assess the dynamics and competitiveness of South Carolina's natural resource industries.
Key Facts
- South Carolina's forestry, fishing, and related activities sector accounts for over $1 billion in GDP.
- This industry employs more than 15,000 people in the state.
- GDP in this sector has grown by 3% on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the forestry, fishing, and related activities sector in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and economic contribution of South Carolina's natural resource-based industries, which are key drivers 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 based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses use this trend to assess the dynamics and competitiveness of South Carolina's forestry, fishing, and related activities sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis with a slight delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in South Carolina (SCFRSTFISHNGSP), retrieved from FRED.