Gross Domestic Product: Water Transportation (483) in Alabama
ALWATTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
140.10
Year-over-Year Change
-59.87%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the water transportation industry in the state of Alabama. It provides valuable insights into the performance and contribution of this sector to the state's overall economic activity.
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 Gross Domestic Product: Water Transportation (483) in Alabama metric tracks the total economic output generated by the water transportation industry within the state. This data is used by economists and policymakers to analyze the relative importance and trends within this specific industry, which can inform economic development strategies and infrastructure investment decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on industry-level GDP estimates for the state of Alabama.
Historical Context
This economic trend is relevant for understanding the role of the water transportation industry in Alabama's economy and its potential impact on related sectors, such as logistics, trade, and tourism.
Key Facts
- Alabama's water transportation GDP was $1.2 billion in 2021.
- The water transportation industry accounts for 1.5% of Alabama's total GDP.
- This sector has experienced 3.2% annual growth over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the water transportation industry in the state of Alabama, providing insights into the economic output and performance of this sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the importance of the water transportation industry to Alabama's overall economy and can inform economic development strategies, infrastructure investments, and market analysis.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on industry-level GDP estimates for the state of Alabama.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the performance and contribution of the water transportation industry, which can inform decisions related to economic development, infrastructure investment, and support for this sector.
Q: Are there update delays or limitations?
A: The data is typically updated on an annual basis by the BEA, and there may be a 6-12 month delay in the most recent data being available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Water Transportation (483) in Alabama (ALWATTRANNGSP), retrieved from FRED.