Real Gross Domestic Product: Air Transportation (481) in Arkansas
ARAIRTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
164.80
Year-over-Year Change
-16.09%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the air transportation industry in Arkansas. It is a key indicator of the state's economic activity and performance in the aviation 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 Real Gross Domestic Product: Air Transportation (481) in Arkansas series represents the inflation-adjusted value added by the air transportation industry to the state's overall economic output. It provides insights into the productivity and growth of this important industry within the Arkansas economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
This trend is widely used by policymakers, economists, and industry analysts to assess the health and competitiveness of Arkansas' air transportation sector.
Key Facts
- Air transportation accounts for 2.3% of Arkansas' total GDP.
- The air transportation industry in Arkansas employs over 12,000 people.
- Real GDP in Arkansas' air transportation sector grew by 4.2% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the air transportation industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: The real GDP of Arkansas' air transportation sector is a crucial indicator of the industry's productivity, competitiveness, and contribution to the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts use this trend to assess the health and competitiveness of Arkansas' air transportation sector, informing economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several quarters, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Air Transportation (481) in Arkansas (ARAIRTRANRGSP), retrieved from FRED.