Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Maryland
MDOTHTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,318.80
Year-over-Year Change
0.91%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) in the other transportation and support activities industry, including transportation support services and transportation warehousing, in the state of Maryland. It provides insights into the performance and growth of this key economic 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 Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Maryland series tracks the output and productivity of a critical industry cluster that includes air, rail, and water transportation services, as well as storage and logistics. This metric is used by economists and policymakers to assess regional economic conditions and the health of Maryland's transportation infrastructure.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state estimates.
Historical Context
This industry-level GDP data informs decisions around transportation investments, infrastructure planning, and economic development policies in Maryland.
Key Facts
- Maryland's other transportation and support activities GDP was $7.4 billion in 2021.
- This industry accounts for 2.3% of Maryland's total GDP.
- The sector grew by 3.5% in real terms from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real gross domestic product (GDP) of the other transportation and support activities industry in the state of Maryland, including air, rail, and water transportation services, as well as storage and logistics.
Q: Why is this trend relevant for users or analysts?
A: This industry-level GDP data provides important insights into the performance and growth of a critical sector of Maryland's economy, informing decisions around transportation investments, infrastructure planning, and economic development policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state estimates.
Q: How is this trend used in economic policy?
A: This economic trend is used by economists and policymakers to assess regional economic conditions and the health of Maryland's transportation infrastructure, informing decisions around public and private investments.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year's figures may not be available for several months after the end of the reference year.
Related Trends
Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Maryland
MDTRANSWAREQGSP
Construction Earnings in Maryland
MDECON
Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Less: Receipts from Sales of Goods and Services by Nonprofit Institutions for Maryland
MDPCEPCLRPTSLSGSNPIS
Accommodation and Food Services Earnings in Maryland
MDEACC
Other Labor Income in Maryland
MDOOTH
Coefficient for Transportation Carbon Dioxide Emissions, Lubricants for Maryland
EMISSCO2CLUACBMDA
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Maryland (MDOTHTRANRGSP), retrieved from FRED.