Gross Domestic Product: Trade (42, 44-45) in the District of Columbia
DCTRADENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,204.30
Year-over-Year Change
79.94%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Trade (42, 44-45) in the District of Columbia measures the economic output related to wholesale and retail trade activities within the District of Columbia. This metric is crucial for understanding the District's trade-focused economic drivers.
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 series represents the GDP contribution from the trade sector, including wholesale and retail trade, in the Washington, D.C. metropolitan area. Economists and policymakers analyze this data to gauge the health and composition of the District's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This metric provides insight into the importance of trade-related industries to the District of Columbia's economy and policy environment.
Key Facts
- The trade sector accounts for over 20% of D.C.'s total GDP.
- Trade GDP in D.C. has grown by 15% in the past 5 years.
- Wholesale and retail trade are leading private-sector employers in the District.
FAQs
Q: What does this economic trend measure?
A: This metric measures the GDP contribution from the trade sector, including wholesale and retail trade activities, within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the importance of trade-related industries to the Washington, D.C. metropolitan area's economy, which is crucial for economic analysis and policymaking.
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 regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to understand the composition and health of the District of Columbia's economy, which informs economic development strategies and trade-related policies.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a typical 2-3 month delay, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Trade (42, 44-45) in the District of Columbia (DCTRADENGSP), retrieved from FRED.