Gross Domestic Product: Ambulatory Health Care Services (621) in Hawaii
HIAMBHCNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,635.20
Year-over-Year Change
96.77%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Ambulatory Health Care Services (621) in Hawaii' measures the economic output of the ambulatory health care services industry in the state of Hawaii. This metric is important for economists and policymakers to understand the health of Hawaii's healthcare sector and its contribution to the overall state 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 economic trend represents the gross domestic product (GDP) contribution of the ambulatory health care services industry, which includes offices of physicians, dentists, and other health practitioners, as well as outpatient care centers and medical and diagnostic laboratories in the state of Hawaii. It provides insight into the performance and growth of this key service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by industry statistics.
Historical Context
This metric is used by economists, policymakers, and industry analysts to assess the health and competitiveness of Hawaii's healthcare sector and its role in the state's overall economic landscape.
Key Facts
- Hawaii's ambulatory healthcare services GDP was $7.8 billion in 2021.
- This industry accounted for 5.2% of Hawaii's total GDP in 2021.
- GDP in this sector has grown by 36% over the past decade in Hawaii.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the ambulatory health care services industry in the state of Hawaii, including offices of physicians, dentists, and other health practitioners, as well as outpatient care centers and medical and diagnostic laboratories.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and growth of Hawaii's healthcare sector, which is a key component of the state's overall economy. It is relevant for economists, policymakers, and industry analysts who need to understand the contribution and dynamics of this critical service industry.
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 GDP by industry statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the health and competitiveness of Hawaii's healthcare sector and its role in the state's overall economic landscape. It informs policy decisions and strategies related to healthcare infrastructure, workforce, and industry regulations.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period. There may also be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Ambulatory Health Care Services (621) in Hawaii (HIAMBHCNGSP), retrieved from FRED.