Real Imports of Goods and Services for Saudi Arabia
NMRNSAXDCSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
280,196.00
Year-over-Year Change
21.98%
Date Range
1/1/2010 - 1/1/2025
Summary
The 'Real Imports of Goods and Services for Saudi Arabia' series measures the volume of imports into the Saudi Arabian economy, adjusted for inflation. This key economic indicator provides insights into the country's trade dynamics and 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 inflation-adjusted import series represents the quantity of goods and services purchased by Saudi Arabia from other countries. It is a crucial metric for assessing the kingdom's trade balance, competitiveness, and economic openness over time.
Methodology
The data is collected and calculated by the International Monetary Fund using national accounts information.
Historical Context
Policymakers and analysts monitor this trend to gauge Saudi Arabia's international economic engagement and trade policy impacts.
Key Facts
- Saudi Arabia is the largest economy in the Middle East.
- Imports account for over 25% of Saudi GDP.
- Real imports peaked in 2014 at 493 billion riyals.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted volume of goods and services imported into the Saudi Arabian economy.
Q: Why is this trend relevant for users or analysts?
A: This import data provides insights into Saudi Arabia's trade dynamics, competitiveness, and economic openness over time.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the International Monetary Fund using national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to gauge Saudi Arabia's international economic engagement and the impacts of trade policy.
Q: Are there update delays or limitations?
A: This data series is updated quarterly by the IMF, with potential lags in availability.
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Citation
U.S. Federal Reserve, Real Imports of Goods and Services for Saudi Arabia (NMRNSAXDCSAQ), retrieved from FRED.