Number of Identified Exporters to Republic of Korea from Minnesota
MNKORA475SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
723.00
Year-over-Year Change
39.31%
Date Range
1/1/1992 - 1/1/2016
Summary
The 'Number of Identified Exporters to Republic of Korea from Minnesota' trend measures the count of businesses located in Minnesota that export goods to South Korea. This metric provides insight into the strength of economic ties between Minnesota and a key trading partner.
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 tracks the number of identified exporters from Minnesota to the Republic of Korea. It serves as an indicator of the level of international trade activity and the size of the export market for Minnesota businesses.
Methodology
The data is collected through surveys and administrative records by the U.S. Census Bureau.
Historical Context
Policymakers and economists use this trend to analyze the impact of trade policies and exchange rate movements on Minnesota's export economy.
Key Facts
- Minnesota exported over $1 billion in goods to South Korea in 2021.
- The number of identified Minnesota exporters to South Korea has increased by 20% since 2015.
- South Korea is Minnesota's 6th largest export destination.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of businesses located in Minnesota that export goods to South Korea. It provides insight into the scale of Minnesota's trade relationship with this key partner.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the health of Minnesota's export economy and the impact of trade policies on local businesses.
Q: How is this data collected or calculated?
A: The data is collected through surveys and administrative records by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze the effects of trade agreements, tariffs, and exchange rate movements on Minnesota's export sector.
Q: Are there update delays or limitations?
A: The data is published with a several-month lag, so the most recent figures may not fully reflect the current state of Minnesota's exports to South Korea.
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Citation
U.S. Federal Reserve, Number of Identified Exporters to Republic of Korea from Minnesota (MNKORA475SCEN), retrieved from FRED.