Gross Domestic Product: Trade (42, 44-45) in Arkansas
ARTRADENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,748.00
Year-over-Year Change
88.37%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Trade (42, 44-45) in Arkansas' series measures the trade component of GDP in Arkansas, including wholesale and retail trade. This metric is crucial for understanding the state's economic performance and trade dynamics.
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
This economic indicator represents the trade sector's contribution to the overall gross domestic product of Arkansas. It encompasses activities related to the wholesale and retail trade of goods and services within the state. Analyzing this data provides insights into the health and competitiveness of Arkansas' commercial and trading landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting for each state.
Historical Context
Policymakers and business leaders use this metric to evaluate Arkansas' economic growth, trade patterns, and the state's position within the broader national and regional trade environment.
Key Facts
- Arkansas' trade GDP grew by 4.2% in 2021.
- Trade accounts for 18.5% of Arkansas' total GDP.
- Wholesale trade is the largest component of Arkansas' trade GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the trade component of gross domestic product (GDP) in the state of Arkansas, including activities related to wholesale and retail trade.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health and competitiveness of Arkansas' commercial and trading landscape, which is crucial for understanding the state's overall economic performance and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting for each state.
Q: How is this trend used in economic policy?
A: Policymakers and business leaders use this metric to evaluate Arkansas' economic growth, trade patterns, and the state's position within the broader national and regional trade environment.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the U.S. Bureau of Economic Analysis, with some potential for minor delays in reporting.
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Total Unemployed, as a Percent of the Civilian Labor Force for Arkansas
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Citation
U.S. Federal Reserve, Gross Domestic Product: Trade (42, 44-45) in Arkansas (ARTRADENGSP), retrieved from FRED.