Real Gross Domestic Product: Air Transportation (481) in Hawaii
HIAIRTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,923.40
Year-over-Year Change
37.17%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the air transportation industry in Hawaii. It is an important indicator of economic activity and growth in the state's aviation 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
The Real Gross Domestic Product: Air Transportation (481) in Hawaii series provides a measure of the economic output of the air transportation industry, including passenger and freight air transportation, in the state of Hawaii. This data is used by economists and policymakers to assess the performance and trends within Hawaii's aviation sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
Trends in this series are closely monitored by transportation authorities and tourism industry analysts to gauge the state's economic conditions.
Key Facts
- Hawaii's air transportation industry accounts for a significant portion of the state's GDP.
- Real GDP in the air transportation sector has fluctuated in recent years due to changes in tourism and trade.
- The COVID-19 pandemic had a major impact on Hawaii's air transportation industry and overall economy.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) of the air transportation industry in the state of Hawaii, including passenger and freight air transportation.
Q: Why is this trend relevant for users or analysts?
A: Trends in Hawaii's air transportation GDP are closely monitored by economists, policymakers, and industry analysts to assess the performance and growth of the state's aviation sector and overall economy.
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 its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Trends in this series are used by transportation authorities and tourism industry analysts to gauge Hawaii's economic conditions and inform policy decisions related to infrastructure, regulation, and economic development.
Q: Are there update delays or limitations?
A: There may be occasional delays in the release of this data due to the complexities of regional GDP estimation, and the series may be subject to revisions over time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Air Transportation (481) in Hawaii (HIAIRTRANRGSP), retrieved from FRED.