Gross Domestic Product: Warehousing and Storage (493) in Virginia
VAWARESTORNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,809.90
Year-over-Year Change
160.27%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Warehousing and Storage (493) in Virginia measures the economic output of the warehousing and storage industry in the state. This data provides insights into the logistics and supply chain activities that support Virginia's broader 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
This economic trend represents the inflation-adjusted value added by the warehousing and storage industry to Virginia's gross domestic product. It serves as an indicator of the scale and productivity of the state's logistics infrastructure and its role in facilitating commerce and trade.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP by industry statistics.
Historical Context
Policymakers and industry analysts use this data to understand trends in Virginia's transportation and logistics sectors and their impact on the overall state economy.
Key Facts
- Virginia's warehousing and storage GDP was $3.9 billion in 2021.
- The industry accounts for 1.4% of Virginia's total GDP.
- Warehousing and storage GDP in Virginia has grown by 23% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the economic output or value added by the warehousing and storage industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the scale and productivity of Virginia's logistics infrastructure, which is crucial for supporting the state's broader economy and commerce.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to understand trends in Virginia's transportation and logistics sectors and their impact on the overall state economy.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent figures may not reflect the latest economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Warehousing and Storage (493) in Virginia (VAWARESTORNGSP), retrieved from FRED.