Gross Domestic Product: Natural Resources and Mining (11, 21) in Virginia
VANATRESMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,104.90
Year-over-Year Change
31.44%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) contribution of the natural resources and mining sectors in the state of Virginia. It provides insight into the importance of these industries to the state's overall economic output.
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 VANATRESMINNGSP series tracks the GDP generated by the natural resources and mining industries in Virginia. This data is used by economists and policymakers to analyze the economic significance of these sectors and their role in the state's economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for understanding the composition and performance of Virginia's economy, which can inform policy decisions and business strategies.
Key Facts
- Virginia's GDP from natural resources and mining was $3.7 billion in 2021.
- The natural resources and mining sector accounted for 1.7% of Virginia's total GDP in 2021.
- This trend has shown moderate growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) contribution of the natural resources and mining sectors in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic significance of the natural resources and mining industries in Virginia, which can inform policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the role of the natural resources and mining sectors in Virginia's overall economic landscape.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, with typical update delays of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Natural Resources and Mining (11, 21) in Virginia (VANATRESMINNGSP), retrieved from FRED.