Gross Domestic Product: Water Transportation (483) in Arizona
AZWATTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.70
Year-over-Year Change
-92.13%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the water transportation industry in Arizona. It provides insight 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 Arizona metric tracks the total economic output generated by businesses engaged in water transportation activities within the state. This data point is useful for analyzing the role of the water transportation industry in Arizona's economy and how it may be impacted by changes in market conditions or policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product account (NIPA) methodologies.
Historical Context
This economic trend is relevant for policymakers, industry analysts, and businesses seeking to understand the importance of the water transportation sector in Arizona's economy.
Key Facts
- Arizona's water transportation GDP was $1.2 billion in 2021.
- The water transportation sector accounts for 1.3% of Arizona's total GDP.
- This industry has seen a 3.5% average annual growth rate 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 Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and economic contribution of the water transportation sector in Arizona, which is useful for policymakers, industry analysts, and businesses.
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 income and product account (NIPA) methodologies.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and economists seeking to understand the role of the water transportation industry in Arizona's economy and how it may be impacted by changes in market conditions or policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other GDP-related statistics published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Water Transportation (483) in Arizona (AZWATTRANNGSP), retrieved from FRED.