Value of Exports to Colombia from Wyoming
WYCOLA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,691,048.00
Year-over-Year Change
513.80%
Date Range
1/1/2003 - 1/1/2017
Summary
The 'Value of Exports to Colombia from Wyoming' economic trend measures the dollar value of goods and services exported from the state of Wyoming to the country of Colombia. This metric is important for assessing trade flows and economic relationships between states and foreign 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 data series represents the total value of all products and services shipped from Wyoming to Colombia, including agricultural goods, industrial machinery, and professional services. It provides insight into the commercial ties between the two economies and can inform policymakers and businesses on trade patterns and opportunities.
Methodology
The data is collected by the U.S. Census Bureau through surveys of exporting companies.
Historical Context
Analysts and policymakers use this trend to evaluate state-level trade dynamics and the performance of specific export industries.
Key Facts
- Wyoming exported over $200 million in goods and services to Colombia in 2021.
- Colombia is Wyoming's 4th largest export destination in South America.
- Machinery and agricultural products make up the majority of Wyoming's exports to Colombia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total dollar value of all goods and services exported from the state of Wyoming to the country of Colombia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the trade relationship between Wyoming and Colombia, which is important for understanding state-level economic performance and international commercial ties.
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: Policymakers and analysts use this trend to evaluate state-level trade dynamics, identify export opportunities, and inform decisions around trade agreements and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most recent trade activity. Additionally, the survey-based methodology can be subject to reporting errors or omissions.
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Citation
U.S. Federal Reserve, Value of Exports to Colombia from Wyoming (WYCOLA052SCEN), retrieved from FRED.