Number of Identified Exporters to Nigeria from Minnesota
MNNGAA475SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
153.00
Year-over-Year Change
240.00%
Date Range
1/1/1992 - 1/1/2017
Summary
The Number of Identified Exporters to Nigeria from Minnesota measures the count of businesses based in Minnesota that export goods to Nigeria. This metric provides insight into trade activity and economic ties between the two 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 series tracks the number of distinct Minnesota-based companies that export products to Nigeria. It serves as an indicator of the scale and breadth of trade flows between the two economies, which is relevant for policymakers and businesses seeking to understand cross-border commercial relationships.
Methodology
The data is collected by the U.S. Census Bureau through surveys of export declarations.
Historical Context
This trend is used by economists and trade analysts to monitor the health of Minnesota's export sector and Nigeria's demand for imports.
Key Facts
- Minnesota is a major U.S. exporting state.
- Nigeria is Africa's largest economy and a key trading partner.
- Exporting supports thousands of jobs in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of distinct businesses based in Minnesota that export goods to Nigeria. It provides insight into the scale of trade flows between the two regions.
Q: Why is this trend relevant for users or analysts?
A: This metric is useful for understanding the strength of economic ties between Minnesota and Nigeria, which is relevant for policymakers, businesses, and economists studying international trade.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of export declarations.
Q: How is this trend used in economic policy?
A: This trend is used by economists and trade analysts to monitor the performance of Minnesota's export sector and Nigeria's demand for imports, which can inform economic and trade policy decisions.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the series only captures formal, declared exports, which may not reflect all trade activity.
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Citation
U.S. Federal Reserve, Number of Identified Exporters to Nigeria from Minnesota (MNNGAA475SCEN), retrieved from FRED.