Gross Domestic Product: Rail Transportation (482) in Idaho
IDRAILTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
457.70
Year-over-Year Change
63.76%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) generated by the rail transportation industry in the state of Idaho. It provides insights into the economic performance and importance of this sector within 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: Rail Transportation (482) in Idaho trend represents the total economic output or value added by the rail transportation industry in Idaho. This metric is used by economists and policymakers to assess the productivity and contribution of the rail sector to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
This trend is relevant for understanding the role of the rail transportation industry in Idaho's economy and can inform policy decisions related to infrastructure investment, economic development, and transportation planning.
Key Facts
- Rail transportation accounts for approximately 2.5% of Idaho's GDP.
- The rail transportation industry in Idaho has experienced steady growth over the past decade.
- Idaho's rail network is crucial for the transportation of agricultural products, mining materials, and other goods to domestic and international markets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the rail transportation industry in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and importance of the rail transportation sector within Idaho's economy, which is crucial for understanding the state's overall economic activity and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the role of the rail transportation industry in Idaho's economy and can inform policy decisions related to infrastructure investment, economic development, and transportation planning.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be some delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Rail Transportation (482) in Idaho (IDRAILTRANNGSP), retrieved from FRED.