International Merchandise Trade Statistics: Exports: Commodities for Norway
XTEXVA01NOA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-6.21
Year-over-Year Change
2753.09%
Date Range
1/1/1958 - 1/1/2024
Summary
The 'International Merchandise Trade Statistics: Exports: Commodities for Norway' tracks the value of Norway's commodity exports, providing insight into its international trade and economic activity.
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 monthly economic series measures the total value of goods and commodities exported from Norway to other countries. It is a key indicator of Norway's trade balance and its engagement in the global economy.
Methodology
The data is collected by Statistics Norway through surveys of businesses and compiled into this comprehensive trade statistic.
Historical Context
Policymakers and analysts use this data to assess Norway's trade position and the competitiveness of its exports.
Key Facts
- Norway is one of the world's largest exporters of seafood and energy products.
- Exports account for over 40% of Norway's GDP.
- China and Germany are major destinations for Norwegian exports.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total value of goods and commodities exported from Norway to other countries on a monthly basis.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into Norway's trade balance, competitiveness, and engagement in the global economy, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected by Statistics Norway through surveys of businesses and compiled into this comprehensive trade statistic.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess Norway's trade position and the competitiveness of its exports, which can inform trade and economic policies.
Q: Are there update delays or limitations?
A: The data is released monthly, but there may be some delays in reporting due to the time required for data collection and compilation.
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Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Exports: Commodities for Norway (XTEXVA01NOA657S), retrieved from FRED.