Value of Exports to Canada from Michigan
MICANA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,863,769,122.00
Year-over-Year Change
9.64%
Date Range
1/1/1992 - 1/1/2017
Summary
The 'Value of Exports to Canada from Michigan' tracks the dollar value of goods and services exported from the state of Michigan to its largest trading partner, Canada. This metric is closely watched by economists and policymakers to gauge the strength of cross-border economic ties.
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 value of exports originating from Michigan and destined for Canada, a key manufacturing and trade relationship for the state. It provides insight into supply chain dynamics, trade flows, and the regional economic integration between the two markets.
Methodology
The data is collected by the U.S. Census Bureau through surveys of businesses and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts monitor this metric to assess the impact of trade agreements, exchange rate fluctuations, and other factors affecting Michigan's exports to Canada.
Key Facts
- Canada is Michigan's largest export market.
- Exports to Canada account for over a third of Michigan's total exports.
- The value of Michigan's exports to Canada has grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total dollar value of goods and services exported from the state of Michigan to its largest trading partner, Canada.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the strength of the economic relationship between Michigan and Canada, which is a critical trading and supply chain link for the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of businesses and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this metric to assess the impact of trade agreements, exchange rate fluctuations, and other factors affecting Michigan's exports to Canada.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as additional information becomes available.
Related Trends
Composite Leading Indicators: Reference Series (GDP) Ratio to Trend for Canada
CANLORSGPRTSTSAM
General Government Net Lending/Borrowing for Canada
CANGGXCNLGDP
Monetary Aggregates and Their Components: Broad Money and Components: M3 for Canada
MABMM301CAQ189N
Infra-Annual Labor Statistics: Working-Age Population Total: 15 Years or over for Canada
LFWATTTTCAM647S
Geographical Outreach: Number of Commercial Banks for Canada
CANFCIODCNUM
Financial Market: Real Effective Exchange Rates: Unit Labor Costs Based for Canada
CCRETT02CAQ661N
Citation
U.S. Federal Reserve, Value of Exports to Canada from Michigan (MICANA052SCEN), retrieved from FRED.