Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in North Dakota
NDOTHTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
429.70
Year-over-Year Change
141.68%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the other transportation and support activities sector, including transportation services and warehousing, in the state of North Dakota.
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 other transportation and support activities GDP trend provides insight into a key component of North Dakota's economy, reflecting the performance and contribution of industries such as logistics, warehousing, and specialized transportation services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by economists and policymakers to analyze North Dakota's economic structure and growth.
Key Facts
- North Dakota's other transportation and support activities GDP reached $1.2 billion in 2021.
- This sector accounts for 2.5% of North Dakota's total GDP.
- The transportation and logistics industry is a key driver of economic activity in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the other transportation and support activities sector in North Dakota, including industries like logistics, warehousing, and specialized transportation services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into a key component of North Dakota's economy, reflecting the performance and contribution of the transportation and logistics industries in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to analyze North Dakota's economic structure and growth, particularly the role of the transportation and logistics sector.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but may be subject to revision and delays in publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in North Dakota (NDOTHTRANNGSP), retrieved from FRED.