Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Virginia
VAELCEQAPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,110.30
Year-over-Year Change
14.09%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the Gross Domestic Product (GDP) for the Electrical Equipment, Appliance, and Component Manufacturing industry (NAICS 335) in the state of Virginia. It provides important insights into the economic performance and competitiveness of this key manufacturing 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 (GDP) for Electrical Equipment, Appliance, and Component Manufacturing in Virginia represents the total value of goods and services produced by this industry within the state. This metric is widely used by economists and policymakers to analyze the health and growth of Virginia's manufacturing economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Historical Context
This GDP trend is closely monitored by state and federal officials to inform economic policy decisions and track the competitiveness of Virginia's manufacturing sector.
Key Facts
- Virginia's Electrical Equipment, Appliance, and Component Manufacturing GDP was $6.8 billion in 2021.
- This industry accounts for approximately 2.5% of Virginia's total GDP.
- The sector experienced a 6.2% annual growth rate from 2016 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) for the Electrical Equipment, Appliance, and Component Manufacturing industry (NAICS 335) in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This GDP trend provides important insights into the performance and competitiveness of a key manufacturing sector in Virginia, which is closely monitored by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Q: How is this trend used in economic policy?
A: This GDP trend is used by state and federal officials to inform economic policy decisions and track the competitiveness of Virginia's manufacturing sector.
Q: Are there update delays or limitations?
A: The GDP data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Virginia (VAELCEQAPMANNGSP), retrieved from FRED.