International Trade: Imports: Value (Goods): Total
OECDXTIMVA01STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.13
Year-over-Year Change
10.18%
Date Range
1/1/2005 - 7/1/2023
Summary
This economic trend measures the total value of goods imported by the United States. It is a key indicator of international trade and economic activity.
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 Total Imports: Value of Goods trend captures the overall monetary value of physical goods imported into the United States from other countries. This statistic is an important measure of a country's engagement in global trade and can provide insights into economic conditions and trade policies.
Methodology
The data is collected through customs records and other government trade statistics.
Historical Context
Policymakers and analysts use this trend to assess the health of the U.S. economy and its international trade relationships.
Key Facts
- Imports account for approximately 15% of U.S. GDP.
- China is the largest source of U.S. imports, followed by Mexico and Canada.
- The U.S. typically runs a trade deficit, importing more than it exports.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total monetary value of physical goods imported into the United States from other countries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the U.S. economy's engagement in global trade, which is an important indicator of economic health and activity.
Q: How is this data collected or calculated?
A: The data is collected through customs records and other government trade statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the state of the U.S. economy and its international trade relationships, which can inform economic and trade policies.
Q: Are there update delays or limitations?
A: The data is subject to the typical delays associated with government statistical reporting, but generally provides a timely and comprehensive view of U.S. import activity.
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Citation
U.S. Federal Reserve, International Trade: Imports: Value (Goods): Total (OECDXTIMVA01STSAQ), retrieved from FRED.