Value of Exports to Canada from Rhode Island
RICANA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
378,826,478.00
Year-over-Year Change
42.65%
Date Range
1/1/1992 - 1/1/2017
Summary
The 'Value of Exports to Canada from Rhode Island' measures the dollar value of goods and services exported from the state of Rhode Island to Canada. This metric is important for understanding regional trade patterns and Rhode Island's economic integration with its largest international trading partner.
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 series represents the total value of merchandise and services exported from Rhode Island to Canada, one of the state's most significant international markets. The data can be used to analyze trends in Rhode Island's trade relationship with its northern neighbor and assess the state's export-driven economic activity.
Methodology
The data is collected by the U.S. Census Bureau through surveys of businesses and other exporters.
Historical Context
Policymakers and economists monitor this trend to gauge Rhode Island's export competitiveness and the health of its trade ties with Canada.
Key Facts
- Rhode Island exported $1.2 billion worth of goods and services to Canada in 2021.
- Canada is Rhode Island's largest international market, accounting for over 30% of the state's total exports.
- The value of Rhode Island's exports to Canada has grown by 8% on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Value of Exports to Canada from Rhode Island' measures the total dollar value of goods and services exported from the state of Rhode Island to its largest international trading partner, Canada.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding Rhode Island's trade relationships and economic integration with Canada, one of the state's most significant export markets. It provides insights into Rhode Island's export competitiveness and the health of its trade ties.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of businesses and other exporters in Rhode Island.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess Rhode Island's export-driven economic activity and the state's trade relationship with Canada, a key international market.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but may be subject to revisions and delays due to the complexities of collecting trade statistics.
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Citation
U.S. Federal Reserve, Value of Exports to Canada from Rhode Island (RICANA052SCEN), retrieved from FRED.