Real Gross Domestic Product: Transportation and Warehousing (48-49) in Virginia
VATRANSWARERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,438.90
Year-over-Year Change
23.78%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic indicator measures the real gross domestic product (GDP) of the transportation and warehousing industry in Virginia. It provides insights into the performance and growth of this crucial sector of 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 Real Gross Domestic Product: Transportation and Warehousing (48-49) in Virginia metric tracks the inflation-adjusted economic output of businesses involved in transportation, logistics, and related services within the state. This data point is used by economists and policymakers to analyze industry trends and the broader health of Virginia's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
This metric is relevant for understanding the role of transportation and logistics in Virginia's economy and its implications for regional employment, investment, and policy decisions.
Key Facts
- Virginia's transportation and warehousing sector accounts for over 4% of the state's total GDP.
- This industry has seen steady growth of around 2.5% annually over the past decade.
- The COVID-19 pandemic had a significant but temporary impact on transportation and warehousing activity in Virginia.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted gross domestic product (GDP) of the transportation and warehousing industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the performance and growth of a critical sector of Virginia's economy, with implications for employment, investment, and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze industry trends and the broader health of Virginia's economy, informing decisions related to infrastructure, regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the U.S. Bureau of Economic Analysis, with a typical lag of several months between the end of a reporting period and the availability of finalized figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Warehousing (48-49) in Virginia (VATRANSWARERGSP), retrieved from FRED.