Nominal Imports of Goods and Services for Saudi Arabia
NMNSAXDCSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
294,279.00
Year-over-Year Change
43.87%
Date Range
1/1/2005 - 1/1/2025
Summary
The Nominal Imports of Goods and Services for Saudi Arabia tracks the total value of goods and services imported into the country. This metric is important for understanding Saudi Arabia's trade balance and economic integration with global markets.
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 total dollar value of goods and services purchased by Saudi Arabia from other countries. It is a key component of the country's overall trade activity and can provide insights into economic trends, competitiveness, and domestic demand.
Methodology
The data is collected and reported by the General Authority for Statistics in Saudi Arabia.
Historical Context
Policymakers and analysts use this data to assess Saudi Arabia's economic performance and trading relationships.
Key Facts
- Saudi Arabia is one of the world's largest importers of goods and services.
- Imports account for over 30% of Saudi Arabia's GDP.
- The country relies heavily on imports of machinery, transportation equipment, and consumer products.
FAQs
Q: What does this economic trend measure?
A: The Nominal Imports of Goods and Services for Saudi Arabia tracks the total value of all goods and services purchased by the country from foreign suppliers.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into Saudi Arabia's trade balance, competitiveness, and overall economic integration with global markets.
Q: How is this data collected or calculated?
A: The data is collected and reported by the General Authority for Statistics in Saudi Arabia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the strength of Saudi Arabia's economy and trading relationships, informing decisions on trade, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a short delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Nominal Imports of Goods and Services for Saudi Arabia (NMNSAXDCSAQ), retrieved from FRED.