International Merchandise Trade Statistics: Imports: Commodities for Canada
XTIMVA01CAA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.01
Year-over-Year Change
-100.55%
Date Range
1/1/1958 - 1/1/2024
Summary
This economic trend measures the total value of imported commodities into Canada. It is a key indicator of Canada's international trade activities and can inform policymakers and analysts about the country's economic performance and integration with global 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
The International Merchandise Trade Statistics: Imports: Commodities for Canada trend represents the dollar value of all physical goods imported into Canada, including raw materials, intermediate products, and final consumer goods. This metric is widely used to assess Canada's trade balance, competitiveness, and exposure to external economic conditions.
Methodology
The data is collected and reported monthly by Statistics Canada through a comprehensive survey of importers and customs records.
Historical Context
This trend is closely monitored by the Bank of Canada, government officials, and international organizations to gauge the health of the Canadian economy and guide trade, fiscal, and monetary policies.
Key Facts
- Canada is the 9th largest importer in the world.
- Imports account for over 30% of Canada's GDP.
- Machinery and equipment are the largest import category for Canada.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of imported commodities, including raw materials, intermediate goods, and final consumer products, into Canada on a monthly basis.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Canada's international trade activities and economic performance, providing insights into the country's competitiveness, exposure to global market conditions, and trade balance.
Q: How is this data collected or calculated?
A: The data is collected and reported monthly by Statistics Canada through a comprehensive survey of importers and customs records.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by the Bank of Canada, government officials, and international organizations to gauge the health of the Canadian economy and guide trade, fiscal, and monetary policies.
Q: Are there update delays or limitations?
A: The data is published with a typical lag of 6-8 weeks, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Imports: Commodities for Canada (XTIMVA01CAA657S), retrieved from FRED.