Gross Domestic Product: Trade (42, 44-45) in Delaware
DETRADENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,369.70
Year-over-Year Change
53.09%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Trade (42, 44-45) in Delaware' series measures the trade sector's contribution to the state's overall economic output. It is a key indicator of Delaware's economic performance and trade activity.
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 trade sector's portion of Delaware's gross domestic product (GDP), including retail and wholesale trade. It provides insights into the relative size and dynamics of this critical economic component within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting for U.S. states.
Historical Context
Policymakers and analysts use this metric to assess Delaware's economic health and competitiveness in the regional and national trade landscape.
Key Facts
- Delaware's trade sector accounts for a significant portion of its overall GDP.
- The trade trend can signal shifts in consumer spending and business investment within the state.
- Monitoring this metric helps policymakers understand Delaware's economic diversification and competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the trade sector's contribution to Delaware's gross domestic product, including retail and wholesale trade activities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the size and performance of Delaware's trade-related economic activities, which are crucial for understanding the state's overall economic health and competitiveness.
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 comprehensive GDP reporting for U.S. states.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Delaware's economic health and competitiveness in the regional and national trade landscape, informing policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: There may be occasional delays in data updates due to the comprehensive nature of GDP reporting, but the series generally provides timely and reliable information on Delaware's trade sector performance.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Trade (42, 44-45) in Delaware (DETRADENGSP), retrieved from FRED.