Gross Domestic Product: Water Transportation (483) in Hawaii
HIWATTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
470.90
Year-over-Year Change
83.09%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Water Transportation (483) in Hawaii trend measures the economic output of the water transportation industry in the state. It is an important indicator for understanding the health and growth of Hawaii's maritime 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 trend represents the total value added to Hawaii's GDP by the water transportation sector, which includes businesses engaged in the transportation of passengers and cargo by water. It is used by economists and policymakers to analyze the performance and contribution of the maritime industry to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
Trends in this data can inform policy decisions related to infrastructure investment, trade, and economic development strategies in Hawaii.
Key Facts
- Hawaii's water transportation sector accounted for $1.2 billion in GDP in 2021.
- The industry employed over 10,000 people in Hawaii as of 2020.
- Water transportation is a critical component of Hawaii's economy, supporting tourism, trade, and supply chain logistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or value added by the water transportation industry in the state of Hawaii, including businesses engaged in the movement of passengers and cargo by water.
Q: Why is this trend relevant for users or analysts?
A: The water transportation industry is a key component of Hawaii's economy, supporting tourism, trade, and supply chain logistics. Monitoring this GDP trend helps economists and policymakers understand the performance and contribution of the maritime sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: Trends in this data can inform policy decisions related to infrastructure investment, trade, and economic development strategies in Hawaii.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis by the Bureau of Economic Analysis, with some inherent reporting lags.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Water Transportation (483) in Hawaii (HIWATTRANNGSP), retrieved from FRED.