Real Gross Domestic Product: All Industry Total in Hawaii
HIRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90,953.90
Year-over-Year Change
5.30%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: All Industry Total in Hawaii measures the total economic output of Hawaii, adjusted for inflation. It is a key indicator of the state's economic health and performance.
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 trend represents the real (inflation-adjusted) value of all goods and services produced within Hawaii, providing a comprehensive measure of the state's overall economic activity. It is closely watched by economists, policymakers, and businesses to gauge Hawaii's economic conditions and growth trajectory.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and government statistics.
Historical Context
The Real GDP for Hawaii is used to inform economic and policy decisions at the state and federal levels.
Key Facts
- Hawaii's real GDP reached $93.5 billion in 2021.
- The state's economy grew by 5.6% in 2021 after contracting in 2020 due to the COVID-19 pandemic.
- Tourism is a major driver of Hawaii's economy, accounting for a significant portion of the state's GDP.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: All Industry Total in Hawaii measures the total value of all goods and services produced within the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of Hawaii's overall economic performance and is closely watched by economists, policymakers, and businesses to gauge the state's economic conditions and growth trajectory.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and government statistics.
Q: How is this trend used in economic policy?
A: The Real GDP for Hawaii is used to inform economic and policy decisions at the state and federal levels, as it provides a comprehensive measure of the state's overall economic activity.
Q: Are there update delays or limitations?
A: The Real Gross Domestic Product: All Industry Total in Hawaii data is typically released by the U.S. Bureau of Economic Analysis on a quarterly basis, with some potential for minor revisions over time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: All Industry Total in Hawaii (HIRQGSP), retrieved from FRED.