Nominal Imports of Goods for Russia
NMGXDCRUA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,831,314.60
Year-over-Year Change
152.92%
Date Range
1/1/1990 - 1/1/2022
Summary
The Nominal Imports of Goods for Russia measures the total value of physical goods imported into Russia on a monthly basis. This metric is closely watched by economists and policymakers to gauge Russia's international trade activity and economic conditions.
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 represents the dollar value of all physical merchandise imported into Russia, excluding services. It is a key indicator of Russia's global trade dynamics and integration with the world economy. Analysts use this data to understand Russia's balance of payments, consumption patterns, and geopolitical positioning.
Methodology
The data is collected and reported by the Federal Reserve Bank of St. Louis based on official government trade statistics.
Historical Context
Nominal imports data informs Russian economic and trade policy, as well as global assessments of the country's market conditions.
Key Facts
- Russia was the 13th largest importer of goods globally in 2021.
- Machinery, vehicles, and mineral fuels make up over 60% of Russia's total imports.
- Nominal imports rose over 30% year-over-year as of the latest data.
FAQs
Q: What does this economic trend measure?
A: The Nominal Imports of Goods for Russia metric measures the total dollar value of physical merchandise imported into the country on a monthly basis.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into Russia's trade balance, consumer demand, and integration with the global economy, which are critical for understanding the country's economic conditions and policy.
Q: How is this data collected or calculated?
A: The data is reported by the Federal Reserve Bank of St. Louis based on official Russian government trade statistics.
Q: How is this trend used in economic policy?
A: Nominal imports data informs Russian trade, monetary, and fiscal policies, as well as global assessments of the country's market conditions and geopolitical positioning.
Q: Are there update delays or limitations?
A: There may be lags in data reporting due to the time required for collection and publication by the relevant statistical agencies.
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Citation
U.S. Federal Reserve, Nominal Imports of Goods for Russia (NMGXDCRUA), retrieved from FRED.