Real Gross Domestic Product: Water Transportation (483) in Idaho
IDWATTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.40
Year-over-Year Change
440.00%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the water transportation industry in Idaho. It provides valuable insights into the performance and economic contribution of this sector within the state.
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 Real Gross Domestic Product: Water Transportation (483) in Idaho series tracks the inflation-adjusted output of the water transportation industry in Idaho. This metric is used by economists and policymakers to analyze the state's economic structure, growth patterns, and the relative importance of the water transportation sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
This trend is relevant for understanding Idaho's economic landscape and informing policy decisions related to infrastructure, trade, and regional development.
Key Facts
- Idaho's water transportation GDP accounted for 0.2% of the state's total GDP in 2021.
- The water transportation industry in Idaho employed over 1,000 workers in 2021.
- Real GDP for Idaho's water transportation sector grew by 3.5% in 2021 compared to the previous year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the water transportation industry in the state of Idaho. It provides a measure of the inflation-adjusted economic output of this sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the economic importance and performance of the water transportation industry in Idaho. It can inform policy decisions, investment strategies, and analyses of the state's economic structure.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to assess the contribution of the water transportation sector to Idaho's economy and to inform decisions related to infrastructure, trade, and regional development.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period. There may also be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Water Transportation (483) in Idaho (IDWATTRANRGSP), retrieved from FRED.