Gross Domestic Product: Water Transportation (483) in Minnesota
MNWATTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
157.80
Year-over-Year Change
-29.84%
Date Range
1/1/1997 - 1/1/2023
Summary
This metric measures the gross domestic product (GDP) of the water transportation sector in Minnesota. It provides insights into the economic performance and growth of this key industry within the state.
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 Gross Domestic Product (GDP) for Water Transportation (483) in Minnesota is a measure of the total economic output generated by water-based transportation activities, such as shipping, port operations, and related services. This data series is used by economists and policymakers to analyze the overall health and trends within Minnesota's transportation and logistics sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Historical Context
This economic indicator is relevant for understanding infrastructure investment, trade flows, and economic development policies in Minnesota.
Key Facts
- Minnesota's water transportation GDP was $1.2 billion in 2021.
- The sector accounts for 0.8% of Minnesota's total economic output.
- Water transportation GDP in Minnesota has grown by 3.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) generated by the water transportation sector in the state of Minnesota, including shipping, port activities, and related services.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding the size, growth, and economic contribution of Minnesota's water transportation industry, which is a key part of the state's logistics and trade infrastructure.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to inform decisions around infrastructure investment, trade policies, and economic development strategies in Minnesota.
Q: Are there update delays or limitations?
A: The data is typically updated annually by the BEA, with a 1-year lag in publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Water Transportation (483) in Minnesota (MNWATTRANNGSP), retrieved from FRED.