Real Imports of Goods for Russia
NMGRNSAXDCRUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,537,428.20
Year-over-Year Change
77.19%
Date Range
1/1/2011 - 10/1/2021
Summary
The Real Imports of Goods for Russia trend measures the volume of imported goods and services in Russia, adjusted for inflation. This metric is important for assessing Russia's trade balance and overall economic health.
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 Real Imports of Goods for Russia index tracks the inflation-adjusted value of imported goods and services consumed within the Russian economy. It is a key indicator used by economists and policymakers to analyze Russia's international trade and the purchasing power of Russian consumers.
Methodology
The data is calculated by the Federal Reserve using customs and trade statistics reported by the Russian government.
Historical Context
This trend helps inform assessments of Russia's economic performance and integration with global markets.
Key Facts
- Russia is one of the world's largest importers of goods.
- Imports account for over 20% of Russia's GDP.
- Real imports declined sharply during the 2014-2015 Russian economic crisis.
FAQs
Q: What does this economic trend measure?
A: The Real Imports of Goods for Russia trend measures the inflation-adjusted volume of imported goods and services consumed within the Russian economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing Russia's trade balance, consumer purchasing power, and overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the Federal Reserve using customs and trade statistics reported by the Russian government.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to gauge Russia's integration with global markets and the health of domestic consumption.
Q: Are there update delays or limitations?
A: There may be lags in data reporting from the Russian government, and the trend does not capture all informal or illicit trade flows.
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Citation
U.S. Federal Reserve, Real Imports of Goods for Russia (NMGRNSAXDCRUQ), retrieved from FRED.