Gross Domestic Product: Truck Transportation (484) in West Virginia
WVTRUCKTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
911.70
Year-over-Year Change
28.25%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the truck transportation industry (NAICS code 484) in the state of West Virginia. It is an important indicator of economic activity and supply chain dynamics in the region.
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: Truck Transportation (484) in West Virginia series represents the total economic output of the truck transportation sector within the state. This data point is used by economists and policymakers to analyze regional industry performance and identify trends in logistics and goods movement.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP by industry estimates.
Historical Context
This economic indicator provides insight into the health of West Virginia's freight transportation and logistics markets, which have important implications for the state's overall economic conditions.
Key Facts
- West Virginia's truck transportation GDP was $1.2 billion in 2021.
- The sector accounts for 2.1% of the state's total economic output.
- Truck transportation GDP grew by 3.4% in West Virginia in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the truck transportation industry (NAICS code 484) in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the performance and economic contribution of the logistics and freight transportation sector in West Virginia, which is an important component of the state's overall economy.
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 their regional GDP by industry estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to analyze regional industry performance and identify trends in logistics and goods movement, which can inform infrastructure investments, economic development strategies, and transportation policies.
Q: Are there update delays or limitations?
A: The data is published annually by the Bureau of Economic Analysis, with a typical 1-year delay in availability.
Related Trends
Gross Domestic Product: Government and Government Enterprises (92) in West Virginia
WVGOVNGSP
Average Weekly Earnings of Production Employees: Trade, Transportation, and Utilities in West Virginia
SMU54000004000000030
Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in West Virginia
WVMISCPRONGSP
Monthly State Retail Sales: Furniture and Home Furnishings Stores in West Virginia
MSRSWV442
Gross Domestic Product: Paper Manufacturing (322) in West Virginia
WVPAPMANNGSP
Value of Exports to Republic of Korea from West Virginia
WVKORA052SCEN
Citation
U.S. Federal Reserve, Gross Domestic Product: Truck Transportation (484) in West Virginia (WVTRUCKTRANNGSP), retrieved from FRED.