Real Gross Domestic Product: Air Transportation (481) in Rhode Island
RIAIRTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
138.90
Year-over-Year Change
-0.50%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the air transportation industry in Rhode Island. It provides insight into the performance and contribution of this sector to the state's overall economic output.
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: Air Transportation (481) in Rhode Island series represents the inflation-adjusted value added by the air transportation industry to the state's GDP. It is a key indicator of the industry's productivity and competitiveness within the Rhode Island economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by policymakers, economists, and industry analysts to assess the health and growth of Rhode Island's air transportation sector and its impact on the broader state economy.
Key Facts
- Rhode Island's air transportation industry contributed $252 million to the state's GDP in 2021.
- The air transportation sector accounted for 1.2% of Rhode Island's total GDP in 2021.
- Real GDP for air transportation in Rhode Island has grown by 4.8% annually on average over the past 10 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) generated by the air transportation industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and economic contribution of Rhode Island's air transportation sector, which is an important factor in assessing the state's overall economic health and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts use this trend to evaluate the competitiveness and growth of Rhode Island's air transportation sector and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Air Transportation (481) in Rhode Island (RIAIRTRANRGSP), retrieved from FRED.