External Trade: Volume of Imports of Goods and Services for Papua New Guinea
PNGTMRPCPPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.86
Year-over-Year Change
-110.52%
Date Range
1/1/2016 - 1/1/2024
Summary
This economic trend measures the volume of imports of goods and services for Papua New Guinea. It provides insights into the country's international trade activity and economic integration.
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 External Trade: Volume of Imports of Goods and Services for Papua New Guinea metric tracks the quantity of imported products and services, rather than just their monetary value. This metric is useful for economists and policymakers to assess Papua New Guinea's participation in global supply chains and the state of its domestic consumption.
Methodology
The data is collected through surveys and administrative sources by the Papua New Guinea National Statistical Office.
Historical Context
This import volume trend is relevant for analyzing Papua New Guinea's trade balance, economic growth, and competitiveness.
Key Facts
- Papua New Guinea is a developing economy in the South Pacific region.
- Import volumes are a key indicator of domestic demand and global integration.
- This metric is seasonally adjusted and reported quarterly.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume, or quantity, of goods and services imported into Papua New Guinea, rather than just the monetary value of imports.
Q: Why is this trend relevant for users or analysts?
A: Tracking import volumes provides insights into Papua New Guinea's level of economic integration, domestic consumption patterns, and trade balance.
Q: How is this data collected or calculated?
A: The data is collected by the Papua New Guinea National Statistical Office through surveys and administrative sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this import volume trend to assess Papua New Guinea's trade competitiveness, consumption dynamics, and overall economic performance.
Q: Are there update delays or limitations?
A: This metric is reported quarterly with a short delay, and may be subject to revisions based on updated source data.
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Citation
U.S. Federal Reserve, External Trade: Volume of Imports of Goods and Services for Papua New Guinea (PNGTMRPCPPPT), retrieved from FRED.