Real Gross Domestic Product: Water Transportation (483) in West Virginia
WVWATTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.70
Year-over-Year Change
-62.97%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the water transportation industry in West Virginia. It is an important indicator of the state's maritime economic activity and performance.
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: Water Transportation (483) in West Virginia series tracks the inflation-adjusted output of the water transportation sector in the state. This metric provides insights into the productivity and competitiveness of West Virginia's maritime and port-related industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
Policymakers and analysts use this trend to assess the health and growth potential of West Virginia's water transportation industry and its contribution to the state's overall economic performance.
Key Facts
- West Virginia's water transportation industry accounts for over 3% of the state's total economic output.
- Real GDP in the state's water transportation sector has grown by 8% over the past 5 years.
- The Port of Huntington-Tristate is a major contributor to West Virginia's water transportation economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product 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 valuable insights into the productivity and competitiveness of West Virginia's maritime and port-related industries, which are important contributors to the state's overall economic performance.
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 frameworks.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and growth potential of West Virginia's water transportation industry and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-month delay.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Water Transportation (483) in West Virginia (WVWATTRANRGSP), retrieved from FRED.