Measuring Transportation in the U.S. Economy

Abstract

This paper argues that the System of National Accounts (SNA) is the most appropriate framework for comparable economic measures of national transportation, and shows that within the SNA transportation can be represented as an industry, as a component of Gross Domestic Product (GDP) measured from the demand side and as a component of Gross Domestic Demand (GDD). Two measures of transportation comparable to GDP and one comparable to GDD are presented. Transportation-related final demand is the measure of transportation as a component of GDP, which includes the value of all goods and services delivered to final users for transportation purposes regardless of which industry produced them. In contrast, transportation industry GDP is the measure of transportation as an industry, which comprises value-added created in the provision of transportation services by the industry. Transportation domestic demand measures the U.S. domestic final demand for transportation regardless of who supplies the demand, domestic production or imports. It differs from transportation-related final demand in that it excludes the balance of trade in transportation goods and services.

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