Gross Domestic Product: Military in Hawaii
HIGOVFEDMILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,715.60
Year-over-Year Change
23.17%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Military in Hawaii trend measures the value of economic activity generated by the U.S. military presence in the state of Hawaii. This metric is crucial for understanding the economic impact and importance of the military sector in the local economy.
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: Military in Hawaii series tracks the total output and income associated with military operations, personnel, and related industries in the state. It provides insights into the military's role as a major employer and driver of economic activity in Hawaii.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private sector sources.
Historical Context
Policymakers and economists use this metric to analyze the economic dependence of Hawaii on the military and inform decisions related to military funding and presence in the state.
Key Facts
- The military accounts for over 20% of Hawaii's GDP.
- Military spending in Hawaii exceeds $10 billion annually.
- The military employs over 80,000 personnel in Hawaii.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Military in Hawaii trend measures the total economic output and income generated by the U.S. military presence in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the economic importance and impact of the military sector in Hawaii, which is a major driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using government and private sector sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze Hawaii's economic dependence on the military and inform decisions related to military funding and presence in the state.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month release lag.
Related Trends
Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Hawaii
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Housing Inventory: Pending Listing Count Month-Over-Month in Hawaii
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All Employees: Retail Trade: Grocery Stores in Hawaii
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Median Household Income in Hawaii
MEHOINUSHIA646N
Monthly State Retail Sales: Clothing and Clothing Accessories Stores in Hawaii
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Proprietors' Nonfarm Income in Hawaii
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Citation
U.S. Federal Reserve, Gross Domestic Product: Military in Hawaii (HIGOVFEDMILNGSP), retrieved from FRED.