Gross Domestic Product: Water Transportation (483) in Ohio
OHWATTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
129.30
Year-over-Year Change
27.01%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the water transportation industry in Ohio. It is an important indicator of economic activity and productivity in the state's maritime 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 Gross Domestic Product: Water Transportation (483) in Ohio series tracks the total economic output generated by water transportation businesses and organizations within the state. It is a key metric used by economists and policymakers to assess the health and growth of Ohio's maritime industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by state and industry program.
Historical Context
This economic indicator provides insight into the role of maritime commerce and infrastructure in Ohio's economy.
Key Facts
- Ohio's water transportation GDP was $2.1 billion in 2021.
- Water transportation accounts for 1.7% of Ohio's total GDP.
- The sector has grown by 8.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or gross domestic product (GDP) generated by the water transportation industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: The water transportation GDP is an important indicator of the health and growth of Ohio's maritime sector, which is a critical component of the state's overall economy.
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 and industry program.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the role of the maritime industry in Ohio's economy and to inform decisions around infrastructure investment, regulations, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately 1 year, so the most recent figures may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Water Transportation (483) in Ohio (OHWATTRANNGSP), retrieved from FRED.