Gross Domestic Product: Air Transportation (481) in Arizona
AZAIRTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,312.80
Year-over-Year Change
62.78%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product (GDP) for the air transportation industry in Arizona measures the economic output of this sector. It provides insight into the health and performance of a key component of the state's 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
The GDP for air transportation in Arizona quantifies the total value of goods and services produced by this industry within the state. It is used by economists and policymakers to analyze trends, inform investment decisions, and assess the broader economic landscape.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This metric is relevant for understanding Arizona's economic development and the performance of its aviation industry.
Key Facts
- Arizona's air transportation GDP was $3.2 billion in 2020.
- The air transportation industry accounts for 1.2% of Arizona's total GDP.
- GDP in this sector has grown by 32% over the past 10 years.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for the air transportation industry in Arizona measures the total economic output of this sector within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and contribution of Arizona's aviation industry, which is a key component of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze industry trends, inform investment decisions, and assess the broader economic landscape in Arizona.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Air Transportation (481) in Arizona (AZAIRTRANNGSP), retrieved from FRED.