Gross Domestic Product: Water Transportation (483) in Virginia
VAWATTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
978.90
Year-over-Year Change
98.76%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the water transportation industry in Virginia. It provides insights into the economic activity and performance of this key 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 Gross Domestic Product: Water Transportation (483) in Virginia series represents the total economic output of the water transportation industry in the state. It is a valuable indicator for understanding the role of this industry in Virginia's overall economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry-level economic activity.
Historical Context
This trend is relevant for policymakers, analysts, and businesses seeking to monitor the health and growth of Virginia's water transportation sector.
Key Facts
- Virginia's water transportation GDP was $1.7 billion in 2020.
- The water transportation industry accounts for 1.2% of Virginia's total GDP.
- This trend has shown a 3.2% average annual growth rate over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the water transportation industry in the state of Virginia. It quantifies the total economic output and activity of this sector.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of the water transportation industry to Virginia's overall economy. It is relevant for policymakers, businesses, and economists analyzing regional economic conditions and industry-level trends.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methodologies for the water transportation industry.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to monitor the health and growth of Virginia's water transportation sector. It informs decisions related to infrastructure investments, regulatory policies, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several quarters. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Bureau of Economic Analysis, Gross Domestic Product: Water Transportation (483) in Virginia (VAWATTRANNGSP), retrieved from FRED.