Gross Domestic Product: Rail Transportation (482) in Minnesota
MNRAILTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,482.80
Year-over-Year Change
65.20%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Rail Transportation (482) in Minnesota measures the economic output of the rail transportation industry in the state. This data point is important for economists and policymakers to understand regional economic trends and the health of Minnesota's transportation infrastructure.
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 series tracks the total inflation-adjusted value added by the rail transportation sector to Minnesota's gross domestic product. It provides insight into the productivity and relative importance of rail transportation to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry surveys and economic modeling.
Historical Context
This metric is used by government agencies, economists, and transportation planners to inform infrastructure investment, regulatory, and economic development decisions.
Key Facts
- Minnesota's rail GDP was $2.7 billion in 2021.
- Rail transportation accounts for 1.3% of Minnesota's total GDP.
- The rail GDP in Minnesota has grown by 7.2% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total inflation-adjusted value added by the rail transportation industry to Minnesota's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the productivity and economic importance of Minnesota's rail transportation sector, which can inform infrastructure investment, regulatory, and economic development decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Government agencies, economists, and transportation planners use this metric to inform decisions about infrastructure investment, regulation, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year, so the most recent figures may not reflect the latest economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Rail Transportation (482) in Minnesota (MNRAILTRANNGSP), retrieved from FRED.