Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Virginia
VAARTENTRECNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,674.60
Year-over-Year Change
44.50%
Date Range
1/1/2005 - 1/1/2025
Summary
This series measures the gross domestic product (GDP) of the arts, entertainment, and recreation sector in Virginia. It provides insight into the economic activity and performance of this 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 arts, entertainment, and recreation sector includes establishments that operate facilities or provide services to meet varied cultural, entertainment, and recreational interests of their patrons. This GDP metric serves as an important indicator of the overall economic health and productivity of this industry in Virginia.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources and estimation techniques.
Historical Context
This economic trend is closely monitored by policymakers, analysts, and businesses to understand the dynamics of Virginia's leisure and hospitality industry.
Key Facts
- Virginia's arts, entertainment, and recreation GDP was $13.2 billion in 2021.
- This sector accounts for 3.2% of Virginia's total gross domestic product.
- The arts and entertainment industry in Virginia employs over 200,000 people.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) of the arts, entertainment, and recreation sector in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic performance and productivity of Virginia's leisure and hospitality industry, which is an important 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 using a variety of sources and estimation techniques.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses closely monitor this trend to understand the dynamics of Virginia's arts, entertainment, and recreation sector and its impact on the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the Bureau of Economic Analysis, and may have a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Virginia (VAARTENTRECNQGSP), retrieved from FRED.