Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Rhode Island
RIOTRANEQMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,051.90
Year-over-Year Change
265.24%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the other transportation equipment manufacturing industry in Rhode Island. This data is crucial for understanding the state's economic composition and competitiveness in this important manufacturing sector.
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 Equipment Manufacturing industry includes the production of aerospace products and parts, railroad rolling stock, ships and boats, and other transportation equipment. This GDP data provides insight into the performance and significance of this industry within Rhode Island's overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This industry-level GDP data informs policymakers and analysts about economic conditions and helps guide investment and workforce decisions.
Key Facts
- Rhode Island's other transportation equipment manufacturing industry contributed $194 million to state GDP in 2020.
- This industry accounted for 0.8% of Rhode Island's total GDP in 2020.
- GDP in this sector declined by 4.9% in Rhode Island from 2019 to 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the other transportation equipment manufacturing industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the performance and significance of Rhode Island's transportation manufacturing sector, which is crucial for understanding the state's economic composition and competitiveness.
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: This industry-level GDP data informs policymakers and analysts about economic conditions and helps guide investment and workforce decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Rhode Island (RIOTRANEQMANNGSP), retrieved from FRED.