International Merchandise Trade Statistics: Imports: Commodities for Czechia
XTIMVA01CZA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.03
Year-over-Year Change
-100.39%
Date Range
1/1/1991 - 1/1/2024
Summary
This economic trend measures the total value of merchandise imports into Czechia, providing insights into the country's international trade patterns 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
The International Merchandise Trade Statistics: Imports: Commodities for Czechia tracks the monetary value of all goods imported into the Czech Republic, including raw materials, intermediate goods, and final consumer products. This data is a key indicator of Czechia's trade balance, industrial production, and domestic consumption.
Methodology
The data is collected by the Czech Statistical Office through a comprehensive survey of import transactions.
Historical Context
Policymakers and analysts use this trend to assess Czechia's economic performance, trade relationships, and competitiveness in global markets.
Key Facts
- Czechia is a major trading partner of the European Union.
- Imports account for over 70% of Czechia's GDP.
- Machinery and transport equipment make up the largest share of Czechia's imports.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total monetary value of all merchandise imported into Czechia, providing insights into the country's trade patterns and economic activity.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of Czechia's trade balance, industrial production, and domestic consumption, making it crucial for policymakers and economists assessing the country's economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the Czech Statistical Office through a comprehensive survey of import transactions.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate Czechia's trade relationships, competitiveness in global markets, and overall economic performance.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month delay and may be subject to revisions based on updated information.
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Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Imports: Commodities for Czechia (XTIMVA01CZA657S), retrieved from FRED.