Real Gross Domestic Product: Water Transportation (483) in Hawaii
HIWATTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
304.80
Year-over-Year Change
-3.12%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Water Transportation (483) in Hawaii tracks the inflation-adjusted economic output of the water transportation industry in the state. It serves as an important indicator of economic activity and productivity in this critical 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 measures the real, inflation-adjusted value added by the water transportation industry in Hawaii's economy. It is a component of the overall state GDP and provides insights into the performance and trends within this vital logistics and trade-related industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production and price information.
Historical Context
Economists and policymakers use this trend to assess the health and competitiveness of Hawaii's maritime economy and trade environment.
Key Facts
- Hawaii's water transportation industry accounts for over 4% of the state's GDP.
- Water transport enables over 98% of Hawaii's international trade by volume.
- This trend has shown steady growth over the past decade, reflecting Hawaii's expanding seaborne commerce.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product of the water transportation industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and competitiveness of Hawaii's maritime economy, which is crucial for the state's overall trade, logistics, and economic well-being.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production and price information.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the health and development of Hawaii's maritime economy, informing decisions related to infrastructure investment, trade policy, and economic development strategies.
Q: Are there update delays or limitations?
A: This data is typically published with a 2-3 month lag, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Water Transportation (483) in Hawaii (HIWATTRANRGSP), retrieved from FRED.