Gross Domestic Product: Water Transportation (483) in Maine
MEWATTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.80
Year-over-Year Change
40.43%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Water Transportation (483) in Maine measures the economic output of the water transportation industry in the state. This trend is an important indicator of maritime activity and overall economic performance.
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 represents the value added by the water transportation industry to Maine's gross domestic product. It captures the economic activity generated by commercial shipping, ports, and related maritime services within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This metric is widely used by policymakers, analysts, and businesses to gauge the health of Maine's maritime economy and its contribution to the state's overall economic growth.
Key Facts
- Maine has a major shipping industry centered around the Port of Portland.
- Water transportation accounts for over 5% of Maine's total GDP.
- This metric has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the economic output and value added by the water transportation industry in the state of Maine, including commercial shipping, ports, and related maritime services.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of maritime economic activity and overall economic performance in Maine, providing insights that are valuable for policymakers, businesses, and analysts.
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 GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, analysts, and businesses to gauge the health of Maine's maritime economy and its contribution to the state's overall economic growth, informing policy decisions and business strategies.
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 potential delays in reporting.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Water Transportation (483) in Maine (MEWATTRANNGSP), retrieved from FRED.