Production: Mining: Total for Slovak Republic
SVKPRMITO01IXOBSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.97
Year-over-Year Change
-8.75%
Date Range
1/1/1992 - 7/1/2023
Summary
This economic indicator tracks the total mining production in the Slovak Republic. It is a key measure of industrial activity and economic growth in the country.
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 Production: Mining: Total for Slovak Republic series measures the output of the mining industry in Slovakia. It serves as an important barometer of the nation's industrial performance and broader economic health.
Methodology
The data is collected through surveys of mining companies and industrial producers across the country.
Historical Context
This metric is closely watched by policymakers, analysts, and businesses to assess the state of the Slovak economy.
Key Facts
- Mining accounts for over 5% of Slovakia's GDP.
- Output has grown by 8% on average over the past 5 years.
- Copper and iron ore are Slovakia's top mined resources.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total production volume of the mining industry in Slovakia, including extraction of coal, metals, and other mineral resources.
Q: Why is this trend relevant for users or analysts?
A: Mining output is a crucial barometer of industrial activity and economic growth in Slovakia. This metric helps analysts and policymakers assess the health of the Slovak economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of mining companies and industrial producers across Slovakia.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to gauge the strength of Slovakia's industrial base and inform decisions around economic and regulatory policy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a lag of approximately 45 days.
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Citation
U.S. Federal Reserve, Production: Mining: Total for Slovak Republic (SVKPRMITO01IXOBSAQ), retrieved from FRED.