Imports of Goods for Minnesota
IMPTOTMN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,733.13
Year-over-Year Change
-17.69%
Date Range
1/1/2008 - 6/1/2025
Summary
The 'Imports of Goods for Minnesota' series measures the total value of goods imported into the state of Minnesota. This metric provides insight into Minnesota's participation in international trade and its economic connections to global supply chains.
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 series represents the total dollar value of physical goods and products imported into the state of Minnesota. It is a key indicator of Minnesota's involvement in international commerce and its reliance on foreign suppliers and markets.
Methodology
The data is collected and published by the U.S. Census Bureau through its state-level international trade statistics.
Historical Context
Policymakers and economists use this metric to assess Minnesota's trade dynamics and the state's integration with the global economy.
Key Facts
- Minnesota's imports totaled over $50 billion in 2021.
- China is Minnesota's largest import source, accounting for 25% of total imports.
- Machinery and transportation equipment make up the largest import categories for Minnesota.
FAQs
Q: What does this economic trend measure?
A: The 'Imports of Goods for Minnesota' series measures the total monetary value of physical goods and products imported into the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Minnesota's participation in international trade and its economic connections to global supply chains, which is important for policymakers and economists analyzing the state's economic performance and trade dynamics.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau through its state-level international trade statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess Minnesota's trade dynamics and the state's integration with the global economy, which informs policy decisions related to trade, economic development, and supply chain resilience.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be some delays in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Imports of Goods for Minnesota (IMPTOTMN), retrieved from FRED.