Gross Domestic Product: Private Industries in Virginia
VAPINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
657,385.70
Year-over-Year Change
22.48%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Private Industries in Virginia metric measures the economic output of private industries in the state of Virginia. This statistic is a key indicator of the health and growth of Virginia's private 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: Private Industries in Virginia series tracks the total economic output of private businesses, excluding government agencies and public enterprises. This data provides insight into the performance and productivity of Virginia's private industry base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Historical Context
Economists and policymakers use this metric to assess the overall strength of Virginia's economy and private sector development.
Key Facts
- Virginia's private industries account for over 80% of the state's total economic output.
- The private sector GDP in Virginia has grown by an average of 2.5% annually over the past decade.
- Professional and business services are the largest contributors to private industry GDP in the state.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Private Industries in Virginia metric measures the total economic output of private businesses and industries within the state of Virginia, excluding government and public enterprises.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the health and performance of Virginia's private sector, which is a critical driver of the state's overall economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards and methodologies.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the strength of Virginia's private industry base and inform decisions related to economic development, taxation, and other policies affecting the state's businesses and entrepreneurs.
Q: Are there update delays or limitations?
A: The Gross Domestic Product: Private Industries in Virginia data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Industries in Virginia (VAPINQGSP), retrieved from FRED.