Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Hawaii
HIFABRMETNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.50
Year-over-Year Change
38.67%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product (GDP) for Fabricated Metal Product Manufacturing (NAICS 332) in Hawaii measures the total economic output of this industry. It is a key indicator of the health and competitiveness of Hawaii's manufacturing 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 GDP for Fabricated Metal Product Manufacturing in Hawaii represents the total value of goods and services produced by establishments primarily engaged in fabricating metal products, such as metal cans, cutlery, hand tools, and architectural and structural metals. This data provides insights into the performance and trends within this important component of Hawaii's economy.
Methodology
The GDP data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Historical Context
Policymakers and industry analysts use this data to evaluate the competitiveness and growth potential of Hawaii's manufacturing sector.
Key Facts
- Hawaii's Fabricated Metal Product Manufacturing GDP was $1.1 billion in 2021.
- This industry accounts for 1.8% of Hawaii's total GDP.
- GDP in this sector has grown by 3.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This economic trend measures the total output or Gross Domestic Product (GDP) of the Fabricated Metal Product Manufacturing industry in Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and competitiveness of a key manufacturing sector in Hawaii's economy, which is important for policymakers, industry analysts, and businesses.
Q: How is this data collected or calculated?
A: The GDP data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to evaluate the growth potential and competitiveness of Hawaii's manufacturing sector, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The GDP data for this industry in Hawaii is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Hawaii (HIFABRMETNGSP), retrieved from FRED.