Gross Domestic Product: Water Transportation (483) in South Carolina
SCWATTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.40
Year-over-Year Change
65.25%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the water transportation industry in South Carolina. It provides insights into the economic performance and contribution of this sector to the state's overall 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 Gross Domestic Product: Water Transportation (483) in South Carolina metric tracks the value-added output of businesses involved in water transportation activities, such as maritime freight and passenger transportation. This data is used by economists and policymakers to analyze the economic health and competitiveness of South Carolina's water transportation industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP by industry statistics.
Historical Context
This metric is relevant for understanding the role of the water transportation sector in South Carolina's economic development and policy decisions affecting the state's maritime infrastructure and logistics.
Key Facts
- South Carolina's water transportation GDP was $1.2 billion in 2021.
- The water transportation sector accounts for 1.3% of South Carolina's total GDP.
- This industry has seen a 5.2% average annual growth rate over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the water transportation industry in South Carolina, which includes maritime freight and passenger transportation activities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and competitiveness of South Carolina's water transportation sector, which is important for understanding the state's overall economic development and guiding policy decisions affecting the maritime industry.
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 regional GDP by industry statistics.
Q: How is this trend used in economic policy?
A: This metric is relevant for policymakers and economists in South Carolina who are interested in understanding the role of the water transportation sector in the state's economic development and making informed decisions about infrastructure investments and regulations affecting the maritime industry.
Q: Are there update delays or limitations?
A: The data is published annually by the U.S. Bureau of Economic Analysis, so there may be a delay of several months between the end of the reference year and the release of the latest data.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Water Transportation (483) in South Carolina (SCWATTRANNGSP), retrieved from FRED.