International Merchandise Trade Statistics: Trade Balance: Commodities for Norway
XTNTVA01NOA664N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
719,983,000,000.00
Year-over-Year Change
68.34%
Date Range
1/1/1955 - 1/1/2024
Summary
This economic trend measures Norway's trade balance for commodities, providing insights into the country's international trade performance 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: Trade Balance: Commodities for Norway series tracks the difference between Norway's exports and imports of goods, offering a key indicator of the nation's trade competitiveness and overall economic health.
Methodology
The data is collected and reported by Norwegian government statistical agencies.
Historical Context
This trend is closely monitored by economists, policymakers, and market analysts to assess Norway's economic conditions and trade relationships.
Key Facts
- Norway is a major exporter of oil, gas, and seafood.
- The trade balance is a key component of Norway's current account.
- Fluctuations in the trade balance can impact the Norwegian krone exchange rate.
FAQs
Q: What does this economic trend measure?
A: This trend measures the difference between Norway's exports and imports of goods, providing insights into the country's international trade performance.
Q: Why is this trend relevant for users or analysts?
A: The trade balance is a crucial indicator of Norway's economic competitiveness and can have significant implications for the country's currency, monetary policy, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by Norwegian government statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor Norway's trade balance to assess the country's economic performance, trade relationships, and the potential need for policy interventions.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and methodologies of the Norwegian statistical agencies, which may result in occasional update delays or revisions.
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Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Trade Balance: Commodities for Norway (XTNTVA01NOA664N), retrieved from FRED.