National Accounts: GDP by Expenditure: Current Prices: Less: Imports of Goods and Services for Norway
NORIMPORTQDSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
407,915,000,000.00
Year-over-Year Change
44.47%
Date Range
1/1/1978 - 7/1/2023
Summary
This economic trend measures the imports of goods and services in Norway, which is a component of the country's gross domestic product (GDP) by expenditure.
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 imports of goods and services is a key indicator of a country's international trade and economic activity. It represents the total value of all goods and services bought from other countries, and is used to calculate GDP from the expenditure side.
Methodology
The data is collected and calculated by the Norwegian statistical agency, Statistics Norway.
Historical Context
This metric is closely watched by policymakers, economists, and market analysts to assess Norway's trade balance and economic performance.
Key Facts
- Norway's imports of goods and services in 2022 totaled 1.37 trillion Norwegian kroner.
- Imports accounted for 31% of Norway's GDP in 2022.
- The largest categories of imports are machinery, transport equipment, and manufactured goods.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of all goods and services imported into Norway, which is a component of the country's GDP calculated from the expenditure side.
Q: Why is this trend relevant for users or analysts?
A: The imports of goods and services is a key indicator of Norway's international trade activity and economic performance, providing important context for assessing the country's trade balance and overall GDP.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Statistics Norway, the country's official statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor Norway's imports to gauge the country's trade position, international competitiveness, and overall economic health.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis by Statistics Norway with a delay of several months.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Current Prices: Less: Imports of Goods and Services for Norway (NORIMPORTQDSMEI), retrieved from FRED.