Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Virginia
VAFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
497.60
Year-over-Year Change
22.83%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in Virginia. It provides insights into the productivity and performance of this key natural resource industry in 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: Forestry, Fishing, and Related Activities (113-115) in Virginia series tracks the inflation-adjusted economic output of businesses engaged in forestry, logging, fishing, hunting, and related support activities. This data point is useful for analyzing the health and contribution of Virginia's natural resource-based industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator helps policymakers and market analysts assess the relative strength and trends within Virginia's natural resource sectors.
Key Facts
- Virginia's forestry and fishing sectors account for over 25,000 jobs.
- Real GDP for this industry in Virginia has grown by 12% since 2015.
- The state is a top producer of hardwood lumber and seafood on the East Coast.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the forestry, fishing, and related activities sector in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into the productivity and performance of Virginia's natural resource-based industries, which are important contributors to 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 using established national accounting principles.
Q: How is this trend used in economic policy?
A: This economic indicator helps policymakers and market analysts assess the relative strength and trends within Virginia's forestry, fishing, and related natural resource sectors.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a delay of approximately two months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Virginia (VAFRSTFISHRGSP), retrieved from FRED.