Price Level of Imports for Slovakia
PLMCPPSKA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.59
Year-over-Year Change
1.93%
Date Range
1/1/1990 - 1/1/2019
Summary
The Price Level of Imports for Slovakia measures the change in prices of goods and services imported into Slovakia. This indicator is crucial for understanding Slovakia's trade dynamics and economic performance.
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 Price Level of Imports for Slovakia represents the price changes of a basket of goods and services imported into the country. This metric is used by economists and policymakers to analyze Slovakia's international trade competitiveness and the impact of exchange rate fluctuations on its import costs.
Methodology
The data is collected by the Statistical Office of the Slovak Republic through surveys of import transactions.
Historical Context
This trend is monitored by the European Central Bank and other institutions to assess Slovakia's inflationary pressures and trade balance.
Key Facts
- Slovakia joined the Eurozone in 2009.
- Imports account for over 90% of Slovakia's GDP.
- The price level of imports has risen by 10% since 2015.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Slovakia measures the change in prices of goods and services imported into the country. This indicator reflects the cost of Slovakia's international trade.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding Slovakia's trade dynamics, competitiveness, and inflationary pressures, as import prices can significantly impact the country's economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the Statistical Office of the Slovak Republic through surveys of import transactions.
Q: How is this trend used in economic policy?
A: The Price Level of Imports for Slovakia is monitored by the European Central Bank and other institutions to assess the country's trade balance and inflationary pressures, which inform economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 2-3 months. The reliability of the trend may be affected by changes in the composition of Slovakia's import basket over time.
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Citation
U.S. Federal Reserve, Price Level of Imports for Slovakia (PLMCPPSKA670NRUG), retrieved from FRED.