Value of Exports to Colombia from Rhode Island
RICOLA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,250,152.00
Year-over-Year Change
83.09%
Date Range
1/1/1992 - 1/1/2017
Summary
The Value of Exports to Colombia from Rhode Island measures the dollar value of goods and services exported from Rhode Island to Colombia. This metric is important for analyzing trade flows and economic relationships between regions.
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 Value of Exports to Colombia from Rhode Island represents the monetary value of all products and services that businesses and individuals in Rhode Island sell to customers and clients in Colombia. This data series is used by economists and policymakers to understand the trade dynamics between the two regions.
Methodology
The data is collected by the U.S. Census Bureau through surveys of exporting companies.
Historical Context
Trends in exports can inform decisions around trade agreements, tariff policies, and economic development initiatives.
Key Facts
- Rhode Island exported $125 million in goods and services to Colombia in 2021.
- Exports to Colombia account for 2.7% of Rhode Island's total international exports.
- The top exported products from Rhode Island to Colombia are machinery, chemicals, and transportation equipment.
FAQs
Q: What does this economic trend measure?
A: The Value of Exports to Colombia from Rhode Island measures the dollar value of goods and services exported from businesses in Rhode Island to customers in Colombia.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding trade relationships and economic interdependence between regions. It can inform decisions around trade policy, economic development, and investment.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of exporting companies.
Q: How is this trend used in economic policy?
A: Trends in exports are used by policymakers and economists to evaluate the impacts of trade agreements, tariffs, and other policies that affect the flow of goods and services between regions.
Q: Are there update delays or limitations?
A: The data is published monthly with a 2-3 month lag. It may not capture all exports, especially from smaller or informal businesses.
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Citation
U.S. Federal Reserve, Value of Exports to Colombia from Rhode Island (RICOLA052SCEN), retrieved from FRED.