Real Gross Domestic Product: Water Transportation (483) in Florida
FLWATTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,984.60
Year-over-Year Change
29.29%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Water Transportation (483) in Florida measures the economic output of the water transportation industry in the state. This metric is crucial for understanding Florida's economic growth and the health of its maritime sector.
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 real (inflation-adjusted) gross domestic product for the water transportation industry (NAICS code 483) in the state of Florida. It is a key indicator of the productivity and economic contribution of Florida's ports, shipping, and related water-based logistics activities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and industry analysts closely monitor this metric to gauge the performance and outlook of Florida's water transportation sector and its broader economic implications.
Key Facts
- Florida's water transportation industry accounts for over 5% of the state's total GDP.
- The real GDP of Florida's water transportation sector has grown by 15% since 2015.
- The Port of Miami is one of the busiest cruise ports in the world.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real (inflation-adjusted) gross domestic product generated by the water transportation industry (NAICS code 483) in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the productivity and economic contribution of Florida's ports, shipping, and related water-based logistics activities, which are crucial to the state's economy.
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 accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this metric to gauge the performance and outlook of Florida's water transportation sector and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is published quarterly with a slight delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Water Transportation (483) in Florida (FLWATTRANRGSP), retrieved from FRED.