Gross Domestic Product: Accommodation and Food Services (72) in Hawaii
HIACCOMDNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,167.70
Year-over-Year Change
39.23%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the accommodation and food services sector in Hawaii. It provides valuable insights into the performance and economic contribution of the state's tourism industry.
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: Accommodation and Food Services (72) in Hawaii metric tracks the total economic output generated by the accommodation and food services sector in the state. This data point is a key indicator of the health and growth of Hawaii's crucial tourism industry, which is a significant driver of the state's economy.
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
Policymakers and analysts use this trend to assess the economic impact of the tourism industry and make informed decisions regarding economic development and policy initiatives.
Key Facts
- Hawaii's tourism industry accounts for over 20% of the state's GDP.
- The accommodation and food services sector is the second-largest industry in Hawaii.
- This trend has shown steady growth in recent years, reflecting the strength of Hawaii's tourism market.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the accommodation and food services sector in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and economic importance of Hawaii's crucial tourism industry, which is a major driver of the state's economy.
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: Policymakers and analysts use this trend to assess the economic impact of the tourism industry and make informed decisions regarding economic development and policy initiatives in Hawaii.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly by the U.S. Bureau of Economic Analysis, with some potential for minor delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Accommodation and Food Services (72) in Hawaii (HIACCOMDNQGSP), retrieved from FRED.