Value of Exports to Republic of Korea from Rhode Island
RIKORA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36,730,985.00
Year-over-Year Change
92.74%
Date Range
1/1/1992 - 1/1/2016
Summary
The 'Value of Exports to Republic of Korea from Rhode Island' series measures the total value of goods and services exported from the U.S. state of Rhode Island to South Korea. This metric is a key indicator of Rhode Island's international trade and economic engagement.
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 data series, part of the U.S. Census Bureau's Foreign Trade program, tracks the monetary value of all merchandise exported from Rhode Island to South Korea. It provides insights into the state's export-oriented industries, trade relationships, and economic linkages with the East Asian nation.
Methodology
The data is collected through mandatory surveys of U.S. exporters and customs declarations.
Historical Context
Policymakers and economists use this metric to assess Rhode Island's export competitiveness and the health of its trade ties with major Asian markets.
Key Facts
- Rhode Island exported $337 million worth of goods to South Korea in 2021.
- Machinery, chemicals, and transportation equipment are top Rhode Island exports to South Korea.
- South Korea was Rhode Island's 7th largest export market in 2021.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of goods and services exported from the U.S. state of Rhode Island to South Korea.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Rhode Island's trade relationships and export-oriented industries, which are key indicators of the state's economic performance and global economic engagement.
Q: How is this data collected or calculated?
A: The data is collected through mandatory surveys of U.S. exporters and customs declarations.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess Rhode Island's export competitiveness and the health of its trade ties with major Asian markets like South Korea.
Q: Are there update delays or limitations?
A: The data is published monthly with a 1-2 month delay, and only includes merchandise exports, not services trade.
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Citation
U.S. Census Bureau, Value of Exports to Republic of Korea from Rhode Island (RIKORA052SCEN), retrieved from FRED.