Net Trade: Value Goods for the European Union
XTNTVA01EUM667S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,327,332,581.93
Year-over-Year Change
634.83%
Date Range
1/1/1999 - 1/1/2020
Summary
The 'Net Trade: Value Goods for the European Union' trend measures the balance of trade in goods between the European Union and the rest of the world. This metric is crucial for understanding the EU's overall economic health and competitiveness.
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 data series tracks the net trade balance (exports minus imports) for goods traded by the European Union. It provides valuable insights into the EU's trade performance and the strength of its manufacturing and export sectors compared to its trade partners.
Methodology
The data is collected and calculated by Eurostat, the statistical office of the European Union.
Historical Context
This trend is closely monitored by economists, policymakers, and market analysts to assess the EU's economic and trade dynamics.
Key Facts
- The EU has maintained a positive trade balance in goods since 2012.
- Germany is the EU's largest exporter, accounting for over 25% of total EU goods exports.
- The EU's top import partners are China, the United States, and the United Kingdom.
FAQs
Q: What does this economic trend measure?
A: The 'Net Trade: Value Goods for the European Union' trend measures the difference between the value of goods exported from the EU and the value of goods imported into the EU.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the EU's trade competitiveness and the health of its manufacturing and export sectors, which are crucial for the overall economic performance of the European Union.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts closely monitor this trend to assess the EU's trade dynamics and competitiveness, which can inform trade policies, economic strategies, and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Net Trade: Value Goods for the European Union (XTNTVA01EUM667S), retrieved from FRED.