Gross Domestic Product: Insurance Carriers and Related Activities (524) in Hawaii
HIINSCRANGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,107.70
Year-over-Year Change
68.70%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the insurance carriers and related activities industry in Hawaii. It provides insight into the economic performance and contribution of this key sector.
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 of the insurance carriers and related activities industry in Hawaii represents the total value of goods and services produced by this industry within the state's economy. It is an important indicator for analysts and policymakers to understand the health and role of this industry in Hawaii's overall economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is widely used by economists, investors, and policymakers to assess the economic conditions and development of Hawaii's insurance industry.
Key Facts
- Hawaii's insurance industry accounts for a significant portion of the state's GDP.
- The GDP of the insurance sector has shown steady growth in recent years.
- Monitoring this trend is crucial for understanding the economic dynamics of Hawaii's insurance industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the insurance carriers and related activities industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and contribution of Hawaii's insurance industry, which is an important sector for the state's overall economic landscape.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, investors, and policymakers to assess the economic conditions and development of Hawaii's insurance industry, which informs decision-making and policy formulation.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the U.S. Bureau of Economic Analysis, and there may be some reporting delays that users should be aware of.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Insurance Carriers and Related Activities (524) in Hawaii (HIINSCRANGSP), retrieved from FRED.