Value of Exports to Australia from Rhode Island
RIAUSA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,359,108.00
Year-over-Year Change
8.71%
Date Range
1/1/1992 - 1/1/2017
Summary
The 'Value of Exports to Australia from Rhode Island' measures the total dollar value of goods and services exported from Rhode Island to Australia. This metric is important for understanding Rhode Island's trade relationship and economic ties with one of its key international partners.
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 economic series tracks the dollar value of all products and services shipped from Rhode Island to Australia. It provides insight into the scale and composition of Rhode Island's export activity with this major trading counterpart, which is crucial data for economic analysts and policymakers.
Methodology
The data is collected by the U.S. Census Bureau through surveys of Rhode Island-based businesses and exporters.
Historical Context
Trends in this export value are monitored by state and federal officials to gauge Rhode Island's trade competitiveness and economic integration with the Australian market.
Key Facts
- Rhode Island exported $305 million worth of goods and services to Australia in 2021.
- Australia was Rhode Island's 15th largest export destination in 2021.
- Top Rhode Island exports to Australia include machinery, computer equipment, and medical devices.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total dollar value of all goods and services exported from the state of Rhode Island to Australia.
Q: Why is this trend relevant for users or analysts?
A: Monitoring Rhode Island's export activity with Australia provides important insights into the state's trade relationships and economic integration with a key international market.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of Rhode Island-based businesses and exporters.
Q: How is this trend used in economic policy?
A: Trends in this export value are closely tracked by state and federal officials to assess Rhode Island's trade competitiveness and economic ties with the Australian market.
Q: Are there update delays or limitations?
A: This data is published on a monthly basis with a typical 2-3 month reporting lag.
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Citation
U.S. Federal Reserve, Value of Exports to Australia from Rhode Island (RIAUSA052SCEN), retrieved from FRED.