Gross Domestic Product: Transportation and Utilities (22, 48-49) in Virginia
VATRANSUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,591.50
Year-over-Year Change
66.34%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) contribution of the transportation and utilities industries in the state of Virginia. It provides insights into the performance and significance of these critical sectors within the state's economy.
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: Transportation and Utilities (22, 48-49) in Virginia series tracks the value-added output of the transportation and utilities industries, which includes activities such as air, rail, and road transportation, as well as electric, gas, and water utilities. This metric is used by economists and policymakers to analyze the economic structure and growth dynamics of Virginia.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is relevant for understanding the role of infrastructure and essential services in Virginia's economic development and competitiveness.
Key Facts
- Virginia's transportation and utilities sector accounts for approximately 10% of the state's GDP.
- This industry has experienced steady growth over the past decade, outpacing the overall state economy.
- The performance of the transportation and utilities sector is closely tied to Virginia's manufacturing and logistics activities.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the transportation and utilities industries in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and significance of Virginia's critical transportation and utilities sectors, which are key drivers of the state's economic growth 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 using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the economic structure and growth dynamics of Virginia, particularly in relation to infrastructure and essential services.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other GDP-related statistics published by the U.S. Bureau of Economic Analysis.
Related Trends
Average Weekly Hours of All Employees: Goods Producing in Virginia
SMU51000000600000002A
Durable Manufacturing Wages and Salaries in Virginia
VAWDUR
All Employees: Food Services and Drinking Places in Virginia
SMU51000007072200001A
All Employees: Professional and Business Services: Employment Services in Virginia
SMU51000006056130001
Rental Vacancy Rate for Virginia
VARVAC
Chain-Type Quantity Index for Real GDP: Accommodation (721) in Virginia
VAACCOMDQGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Transportation and Utilities (22, 48-49) in Virginia (VATRANSUTILNGSP), retrieved from FRED.