National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Austria
Euro, Annual
NAEXKP01ATA189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
380,558,954,137.00
Year-over-Year Change
16.50%
Date Range
1/1/1995 - 1/1/2022
Summary
The 'Euro, Annual' trend measures the annual nominal exchange rate between the U.S. dollar and the euro. This data point is a key indicator of relative currency values and international trade dynamics.
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
The 'Euro, Annual' series reports the yearly average exchange rate between the U.S. dollar and the euro. This metric is widely used by economists, policymakers, and financial analysts to assess the strength of the euro relative to the dollar and its implications for the global economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on daily foreign exchange market quotations.
Historical Context
The euro-dollar exchange rate is a critical input for evaluating international trade balances, assessing multinational corporate performance, and formulating monetary and fiscal policies.
Key Facts
- The euro was introduced in 1999 and became the official currency of the Eurozone in 2002.
- The U.S. dollar is the world's primary reserve currency, accounting for over 60% of global foreign exchange reserves.
- Exchange rate fluctuations can significantly impact the competitiveness of exports and imports between the U.S. and Eurozone economies.
FAQs
Q: What does this economic trend measure?
A: The 'Euro, Annual' metric measures the yearly average exchange rate between the U.S. dollar and the euro, the official currency of the Eurozone.
Q: Why is this trend relevant for users or analysts?
A: The euro-dollar exchange rate is a critical indicator of the relative strength of the two economies and has significant implications for international trade, corporate performance, and policy decisions.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve collects and calculates the 'Euro, Annual' data based on daily foreign exchange market quotations.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor the euro-dollar exchange rate to assess its impact on trade balances, inflation, and the competitiveness of exports and imports between the U.S. and Eurozone.
Q: Are there update delays or limitations?
A: The 'Euro, Annual' data is published by the Federal Reserve with a typical delay of several weeks following the end of the calendar year.
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Citation
U.S. Federal Reserve, 'Euro, Annual' (NAEXKP01ATA189S), retrieved from FRED.