Number of Identified Exporters to Nigeria from Utah
UTNGAA475SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.00
Year-over-Year Change
56.52%
Date Range
1/1/1992 - 1/1/2017
Summary
The 'Number of Identified Exporters to Nigeria from Utah' metric tracks the count of businesses based in Utah that export goods or services to Nigeria. This statistic is valuable for understanding trade flows and economic relationships between U.S. states and international markets.
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 measures the number of distinct companies headquartered in Utah that are actively exporting products or services to Nigeria. It provides insight into the scale and diversity of trade engagement between the state's economy and the Nigerian market.
Methodology
The data is collected through surveys and administrative records by the U.S. Census Bureau.
Historical Context
Policymakers and trade analysts use this metric to evaluate Utah's export performance and commercial ties with key international partners.
Key Facts
- Utah exported over $100 million in goods to Nigeria in 2021.
- The number of identified Utah exporters to Nigeria has grown by 25% since 2015.
- Nigeria is Utah's 4th largest export market in Africa.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of distinct businesses headquartered in Utah that are identified as exporting goods or services to Nigeria.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the scale and dynamics of trade engagement between Utah's economy and the Nigerian market, which is valuable for policymakers and trade analysts.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Governments and trade organizations use this metric to evaluate Utah's export performance and commercial relationships with key international partners.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of the latest data due to the time required for collection and publication.
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Citation
U.S. Federal Reserve, Number of Identified Exporters to Nigeria from Utah (UTNGAA475SCEN), retrieved from FRED.