International Trade: Imports: Value (Goods): Total for Ireland
XTIMVA01IEQ188S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.87
Year-over-Year Change
19.23%
Date Range
1/1/1995 - 7/1/2023
Summary
The 'International Trade: Imports: Value (Goods): Total for Ireland' series tracks the total value of goods imported into Ireland. This measure is important for analyzing Ireland's trade balance and broader economic performance.
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 represents the total monetary value of physical goods imported into Ireland, excluding services. Economists and policymakers use this data to assess Ireland's participation in global trade and the strength of domestic demand.
Methodology
The data is collected by Ireland's Central Statistics Office through a monthly survey of businesses.
Historical Context
The imports value trend is a key indicator for Ireland's economic health and trade policy.
Key Facts
- Ireland imported over €100 billion in goods in 2021.
- Machinery and transport equipment are Ireland's top import categories.
- Imports account for over 50% of Ireland's GDP.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total monetary value of physical goods imported into Ireland, excluding services. It provides insight into Ireland's trade balance and participation in global trade.
Q: Why is this trend relevant for users or analysts?
A: This imports data is an important indicator of Ireland's economic health and trade policy. It helps economists and policymakers assess domestic demand and the country's trade position.
Q: How is this data collected or calculated?
A: The data is collected by Ireland's Central Statistics Office through a monthly survey of businesses.
Q: How is this trend used in economic policy?
A: The imports value trend is used by policymakers and analysts to monitor Ireland's trade balance, domestic demand, and broader economic performance. It informs trade and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of several weeks. There may be revisions to earlier monthly figures as more complete information becomes available.
Related Trends
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Citation
U.S. Federal Reserve, International Trade: Imports: Value (Goods): Total for Ireland (XTIMVA01IEQ188S), retrieved from FRED.