Gross Domestic Product: Air Transportation (481) in the District of Columbia
DCAIRTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.40
Year-over-Year Change
-4.85%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Air Transportation (481) in the District of Columbia measures the economic output of the air transportation industry within the District. This metric is important for understanding the performance and contributions of a key transportation sector to the local 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 series represents the gross domestic product (GDP) generated by the air transportation industry (NAICS code 481) within the geographic boundaries of the District of Columbia. GDP is a comprehensive measure of economic activity and is widely used by economists and policymakers to assess economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This air transportation GDP data provides insights into the economic role of the aviation industry in the District's economy and can inform transportation and economic development policies.
Key Facts
- GDP of air transportation in DC was $3.2 billion in 2021.
- Air transportation accounts for 1.4% of DC's total GDP.
- This GDP metric has grown by 10% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the air transportation industry within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This air transportation GDP data provides insights into the economic importance and performance of a key industry in the District's economy, which can inform transportation and economic development policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This GDP metric for the air transportation industry in DC can be used by policymakers and economists to assess the sector's contributions to the local economy and guide infrastructure, regulatory, and economic development decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Bureau of Economic Analysis, with a lag of several months. There may be revisions to prior period estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Air Transportation (481) in the District of Columbia (DCAIRTRANNGSP), retrieved from FRED.