International Trade: Net Trade: Value (Goods): Total for Colombia
COLXTNTVA01STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.96
Year-over-Year Change
-31.08%
Date Range
1/1/2005 - 7/1/2023
Summary
This series measures the net trade balance, or the difference between Colombia's total exports and total imports of goods. It is a key economic indicator that provides insight into the country's international trade position and competitiveness.
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
Net trade is the value of a country's total exports minus its total imports. It is an important metric for assessing a nation's trade position and overall economic health. Economists and policymakers use this data to analyze trade patterns, evaluate competitiveness, and inform trade and economic policies.
Methodology
The data is collected and reported by Colombia's national statistics agency.
Historical Context
This metric is widely tracked by investors, analysts, and policymakers to gauge Colombia's trade dynamics and economic performance.
Key Facts
- Colombia's net trade balance was $-1.7 billion in 2021.
- Exports account for over 15% of Colombia's GDP.
- The U.S. is Colombia's largest trading partner.
FAQs
Q: What does this economic trend measure?
A: This series measures Colombia's net trade balance, which is the difference between the country's total exports and total imports of goods.
Q: Why is this trend relevant for users or analysts?
A: The net trade balance is a key indicator of a country's international trade position and competitiveness. It provides insights into Colombia's trade dynamics that are important for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and reported by Colombia's national statistics agency.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Colombia's trade performance, evaluate the country's competitiveness, and inform trade and economic policies.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule with minimal delays, providing timely insights into Colombia's international trade position.
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Citation
U.S. Federal Reserve, International Trade: Net Trade: Value (Goods): Total for Colombia (COLXTNTVA01STSAQ), retrieved from FRED.