Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Virginia
VAOTHTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,872.60
Year-over-Year Change
49.96%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures real gross domestic product (GDP) for the other transportation and support activities industry in Virginia, which includes transportation services and support activities such as air transportation, rail transportation, and support activities for transportation.
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 GDP for other transportation and support activities in Virginia is an important economic indicator that provides insights into the performance and growth of this key industry in the state. It is used by economists, policymakers, and analysts to assess the overall health and dynamics of Virginia's transportation and logistics sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This trend is relevant for understanding the state of Virginia's transportation infrastructure and its impact on the broader economy.
Key Facts
- Virginia's other transportation and support activities industry accounts for over 3% of the state's total GDP.
- This industry has seen steady growth in recent years, outpacing the overall state economy.
- The transportation and logistics sectors are critical to Virginia's economy, supporting manufacturing, trade, and tourism.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the other transportation and support activities industry in the state of Virginia, which includes transportation services and support activities such as air, rail, and other modes of transportation.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of Virginia's transportation and logistics sectors, which are critical to the state's overall economic health and competitiveness.
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 estimates.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and analysts to assess the state of Virginia's transportation infrastructure and its impact on the broader economy, informing decisions about infrastructure investment, transportation policy, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly by the Bureau of Economic Analysis, with some potential for delays due to data collection and processing.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Virginia (VAOTHTRANRGSP), retrieved from FRED.