Gross Domestic Product: Waste Management and Remediation Services (562) in Maryland
MDWASTENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,512.00
Year-over-Year Change
65.77%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) contribution of the Waste Management and Remediation Services industry (NAICS 562) in the state of Maryland. It is an important indicator for understanding the scale and economic significance of this 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 Waste Management and Remediation Services industry includes establishments engaged in the collection, treatment, and disposal of waste materials. This GDP metric provides insight into the relative size and economic output of this crucial industry in Maryland, which supports public health, environmental protection, and sustainable resource management.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP by industry statistics.
Historical Context
Policymakers and industry analysts use this data to evaluate the economic role of waste management services and inform decisions around infrastructure, regulation, and economic development.
Key Facts
- Maryland's Waste Management GDP was $1.4 billion in 2021.
- This industry accounts for 0.8% of Maryland's total economic output.
- The Waste Management sector in Maryland has grown by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) contribution of the Waste Management and Remediation Services industry (NAICS 562) in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the scale and economic significance of the waste management sector within Maryland's economy, which is crucial for supporting public health, environmental protection, and sustainable resource management.
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 state-level GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to evaluate the economic role of waste management services and inform decisions around infrastructure, regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Waste Management and Remediation Services (562) in Maryland (MDWASTENGSP), retrieved from FRED.