Value of Exports to Republic of Korea from Alabama
ALKORA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
495,807,328.00
Year-over-Year Change
40.88%
Date Range
1/1/1992 - 1/1/2016
Summary
The 'Value of Exports to Republic of Korea from Alabama' series measures the total dollar value of goods and services exported from the state of Alabama to South Korea. This metric is important for analyzing trade flows and economic relationships between U.S. states and foreign countries.
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 data series tracks the value of Alabama's exports to South Korea, one of the state's key trading partners. Economists and policymakers use this information to assess the strength of Alabama's international commercial ties and the impact of trade policy changes on the state's economy.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of businesses in Alabama.
Historical Context
This export data helps inform decisions around economic development, trade agreements, and foreign investment between Alabama and South Korea.
Key Facts
- Alabama exported $3.2 billion in goods to South Korea in 2021.
- Aerospace products are Alabama's top export to South Korea.
- South Korea is Alabama's 4th largest export destination globally.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total value of goods and services exported from the U.S. state of Alabama to the Republic of Korea (South Korea).
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding Alabama's trade relationships and economic ties with foreign markets, particularly with a key trading partner like South Korea.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of businesses located in Alabama.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this export data to inform decisions around trade agreements, economic development programs, and foreign investment between Alabama and South Korea.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there can be a 1-2 month lag in reporting the latest figures.
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Citation
U.S. Federal Reserve, Value of Exports to Republic of Korea from Alabama (ALKORA052SCEN), retrieved from FRED.