International Merchandise Trade Statistics: Imports: Commodities for Ireland
XTIMVA01IEA664N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132,238,100,000.00
Year-over-Year Change
141.03%
Date Range
1/1/1955 - 1/1/2024
Summary
The International Merchandise Trade Statistics: Imports: Commodities for Ireland measures the value of imported goods to Ireland across various commodity categories. This metric is a key indicator of Ireland's international trade activity and economic health.
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 tracks the monthly value of imported goods to Ireland, categorized by commodity type. It offers insights into Ireland's trade balance, consumer demand, and industrial production trends. Economists and policymakers use this data to analyze Ireland's economic performance and trade relationships.
Methodology
The data is collected by Ireland's Central Statistics Office through surveys of importing firms and customs declarations.
Historical Context
Policymakers and analysts use this trade data to inform decisions on monetary policy, tariffs, and economic development strategies.
Key Facts
- Ireland is a major importer of goods, with an annual import value over €100 billion.
- Machinery and transport equipment are Ireland's top imported commodity categories.
- Import growth can signal increased domestic demand and economic expansion.
FAQs
Q: What does this economic trend measure?
A: This series tracks the monthly value of imported goods to Ireland, categorized by commodity type. It offers insights into Ireland's trade balance and economic activity.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding Ireland's international trade dynamics, consumer demand, and industrial production. It informs economic policymaking and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected by Ireland's Central Statistics Office through surveys of importing firms and customs declarations.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trade data to inform decisions on monetary policy, tariffs, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 6-8 week delay. Coverage may be limited to certain commodity categories or trade partners.
Related Trends
Production: Energy: Electricity: Total for Ireland
IRLPRENEL01IXOBM
Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Ireland
IRLCPHP0300IXEBM
Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Water Supply and Miscellaneous Services Relating to the Dwelling: Total for Ireland
IRLCP040400GPM
Non-Life Insurance Premium Volume to GDP for Ireland
DDDI10IEA156NWDB
People 15 Years and Over Saving at a Financial Institution in the Past Year for Ireland
DDAI06IEA156NWDB
Nominal Exports of Goods and Services for Ireland
NXXDCIRA
Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Imports: Commodities for Ireland (XTIMVA01IEA664N), retrieved from FRED.