Gross Domestic Product: Military in Idaho
IDGOVFEDMILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
795.10
Year-over-Year Change
36.38%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Military in Idaho metric measures the economic activity associated with military spending and operations in the state of Idaho. This trend is important for understanding the role of the military sector in the state's 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 Idaho series captures the inflation-adjusted market value of goods and services produced by the military and defense industries in Idaho. This indicator provides insight into the economic footprint of the military presence in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this metric to assess the economic importance of the military to Idaho's economy.
Key Facts
- Idaho's military GDP was $2.6 billion in 2021.
- The military sector accounts for 3.8% of Idaho's total GDP.
- Military spending in Idaho has grown by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Military in Idaho metric measures the economic activity associated with military spending and operations in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the economic footprint of the military presence in Idaho, which is important for policymakers and analysts assessing the role of the military sector in 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 analysts use this metric to assess the economic importance of the military to Idaho's economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but may be subject to revisions and updates over time.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Military in Idaho (IDGOVFEDMILNGSP), retrieved from FRED.