Real Gross Domestic Product: Trade (42, 44-45) in Hawaii
HITRADERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,987.20
Year-over-Year Change
16.65%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Trade (42, 44-45) in Hawaii is an economic indicator that measures the value of trade-related economic activity in the state, adjusted for inflation. This metric provides insight into the health and growth of Hawaii's trade-dependent industries.
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 Real Gross Domestic Product: Trade (42, 44-45) in Hawaii represents the portion of the state's total economic output that is generated by trade-related sectors, including wholesale trade, retail trade, and transportation and warehousing. It is a valuable gauge of Hawaii's trade competitiveness and the broader performance of its economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
Policymakers and analysts use this metric to evaluate the impact of trade policies, exchange rates, and other factors on Hawaii's economy.
Key Facts
- Hawaii's trade-related GDP accounts for over a quarter of the state's total economic output.
- The Real Gross Domestic Product: Trade in Hawaii has grown by an average of 2.5% annually over the past decade.
- Trade-related industries are a major employer in Hawaii, accounting for nearly 20% of the state's workforce.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Trade (42, 44-45) in Hawaii measures the inflation-adjusted value of economic activity in the state's trade-related sectors, including wholesale, retail, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of Hawaii's trade-dependent industries, which are a significant 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 standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the impact of trade policies, exchange rates, and other factors on Hawaii's economy and to inform decision-making.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Trade (42, 44-45) in Hawaii (HITRADERGSP), retrieved from FRED.