Gross Domestic Product: Water Transportation (483) in West Virginia
WVWATTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.00
Year-over-Year Change
-30.11%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Water Transportation (483) in West Virginia measures the economic output of the water transportation industry in the state. This metric is important for understanding the role of maritime activity in the regional 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
This series represents the inflation-adjusted GDP for the water transportation sector in West Virginia. It provides insights into the scale and performance of this industry, which encompasses commercial shipping, port operations, and related logistics.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP statistics.
Historical Context
Policymakers and analysts use this metric to evaluate the economic contribution and competitive position of West Virginia's maritime industry.
Key Facts
- Water transportation GDP in West Virginia totaled $288 million in 2021.
- The industry accounts for 0.8% of the state's total economic output.
- Maritime GDP in West Virginia has grown by 23% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted gross domestic product (GDP) of the water transportation industry in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the scale and performance of West Virginia's maritime economy, which is an important component of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the economic contribution and competitive position of West Virginia's water transportation sector.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 year lag and may not capture recent short-term fluctuations in the industry.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Water Transportation (483) in West Virginia (WVWATTRANNGSP), retrieved from FRED.