Share of Merchandise Imports at Current Purchasing Power Parities for Trinidad and Tobago
CSHMCPTTA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.35
Year-over-Year Change
-2.93%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Merchandise Imports at Current Purchasing Power Parities for Trinidad and Tobago' measures the relative value of the country's imports compared to its total economic output. This metric provides insights into Trinidad and Tobago's trade dynamics and integration with the global 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 indicator represents the portion of Trinidad and Tobago's total economic activity, as measured by Gross Domestic Product (GDP), that is accounted for by imported goods. It offers economists and policymakers a quantitative view of the country's reliance on foreign trade and can inform strategies around trade, industrial, and macroeconomic policies.
Methodology
The data is calculated by the World Bank using purchasing power parity exchange rates and national accounts statistics.
Historical Context
Policymakers and analysts use this metric to assess Trinidad and Tobago's trade openness, competitiveness, and exposure to external economic conditions.
Key Facts
- Trinidad and Tobago's import share was 42.7% in 2020.
- The import share has fluctuated between 35-50% over the past decade.
- Trinidad and Tobago relies heavily on imported capital and consumer goods.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the share of Trinidad and Tobago's total economic output (GDP) that is accounted for by imported goods and services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Trinidad and Tobago's trade dynamics, economic openness, and reliance on foreign goods, which are important considerations for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using purchasing power parity exchange rates and national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Trinidad and Tobago's trade openness, competitiveness, and exposure to external economic conditions, which can inform trade, industrial, and macroeconomic policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Share of Merchandise Imports at Current Purchasing Power Parities for Trinidad and Tobago (CSHMCPTTA156NRUG), retrieved from FRED.