Real Gross Domestic Product: Water Transportation (483) in Illinois
ILWATTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
372.40
Year-over-Year Change
-22.67%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the water transportation industry in Illinois. It provides insight into the performance and productivity of this crucial transportation sector within the state's 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
The Real Gross Domestic Product: Water Transportation (483) in Illinois series tracks the inflation-adjusted output of businesses engaged in providing water transportation of passengers and cargo within the state. This data point is used by economists and policymakers to assess the health and growth of Illinois' maritime and inland waterway commerce.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
Trends in water transportation GDP are monitored for their implications on trade, logistics, and infrastructure investment decisions.
Key Facts
- Illinois is a major inland waterway hub, with over 1,000 miles of commercially navigable rivers.
- The water transportation industry accounts for over 20,000 jobs in Illinois.
- Barge traffic on the Mississippi and Illinois Rivers is a critical component of the state's logistics network.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the water transportation industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: Trends in Illinois' water transportation GDP provide insight into the productivity and performance of this vital logistics sector, which has implications for trade, infrastructure investment, and the broader state economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor water transportation GDP to inform decisions about infrastructure investment, trade policy, and supporting the logistics industry in Illinois.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most current economic conditions.
Related Trends
Average Weekly Hours of Production Employees: Wholesale Trade: Wholesale Trade Agents and Brokers in Illinois
SMU17000004142500007
All Employees: Professional, Scientific, and Technical Services in Illinois
SMU17000006054000001A
State Government Tax Collections, Property Taxes in Illinois
ILPROPTAX
Chain-Type Quantity Index for Real GDP: Construction (23) in Illinois
ILCONSTQGSP
Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Illinois
ILPCEFUR
Other Labor Income in Illinois
ILOOTH
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Water Transportation (483) in Illinois (ILWATTRANRGSP), retrieved from FRED.