Gross Domestic Product: Manufacturing (31-33) in Virginia
VAMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54,501.60
Year-over-Year Change
16.29%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the manufacturing sector in the state of Virginia. It provides insight into the overall health and productivity of Virginia's manufacturing industry.
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: Manufacturing (31-33) in Virginia series represents the total economic output of the manufacturing sector in the state. It is a key indicator used by economists and policymakers to assess the performance and competitiveness of Virginia's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive GDP reporting.
Historical Context
This manufacturing GDP metric is widely referenced by state and local officials, industry groups, and economic analysts to inform policy decisions and business strategies.
Key Facts
- Virginia's manufacturing GDP totaled $48.3 billion in 2021.
- The manufacturing sector accounts for 9.4% of Virginia's total economic output.
- Durable goods manufacturing makes up over 60% of Virginia's manufacturing GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the manufacturing sector in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This manufacturing GDP metric provides valuable insight into the performance and competitiveness of a key industry within Virginia's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive GDP reporting.
Q: How is this trend used in economic policy?
A: State and local officials, industry groups, and economic analysts reference this manufacturing GDP metric to inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions by the BEA.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Manufacturing (31-33) in Virginia (VAMANNQGSP), retrieved from FRED.