Value of Exports to Jamaica from Michigan
MIJAMA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,446,135.00
Year-over-Year Change
100.05%
Date Range
1/1/1992 - 1/1/2017
Summary
The 'Value of Exports to Jamaica from Michigan' series measures the total value of goods exported from the state of Michigan to Jamaica. This metric is important for understanding trade patterns and economic relationships between regions.
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 dollar value of physical goods and commodities that are exported from Michigan to Jamaica over time. It provides insights into the commercial activity and trade dynamics between these two economies.
Methodology
The data is collected and reported by the U.S. Census Bureau based on customs declarations and shipping manifests.
Historical Context
Policymakers and trade analysts use this metric to monitor trade flows and commercial activity between U.S. states and international markets.
Key Facts
- Michigan exported over $150 million in goods to Jamaica in 2021.
- Motor vehicles and parts are a major export category from Michigan to Jamaica.
- Trade between Michigan and Jamaica has grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total dollar value of physical goods and commodities that are exported from the U.S. state of Michigan to the country of Jamaica.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the trade relationship and commercial activity between Michigan and Jamaica, which is useful for policymakers, economists, and businesses analyzing regional trade patterns.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau based on customs declarations and shipping manifests.
Q: How is this trend used in economic policy?
A: Governments and trade agencies utilize this data to monitor trade flows, identify growth opportunities, and inform policy decisions related to commercial relationships between U.S. states and international markets.
Q: Are there update delays or limitations?
A: There may be lags of several months in the reporting of this data due to the time required for customs processing and compilation by statistical agencies.
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Citation
U.S. Federal Reserve, Value of Exports to Jamaica from Michigan (MIJAMA052SCEN), retrieved from FRED.