Value of Exports to Nigeria from Alabama
ALNGAA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,235,536.00
Year-over-Year Change
-61.77%
Date Range
1/1/1992 - 1/1/2017
Summary
The 'Value of Exports to Nigeria from Alabama' trend measures the total dollar value of goods and services exported from the state of Alabama to Nigeria. This metric is important for understanding Alabama's international trade dynamics and economic ties with key African markets.
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 value of all merchandise and services exported from Alabama to Nigeria, one of the state's major trade partners in Africa. The data is useful for analyzing trends in Alabama's export-driven economy and gauging the competitiveness of its products in overseas markets.
Methodology
The data is collected through surveys of Alabama-based exporters and compiled by the U.S. Census Bureau.
Historical Context
Policymakers and business analysts use this metric to assess Alabama's export performance and identify opportunities for growth in trade with Nigeria.
Key Facts
- Alabama is a major exporter to Nigeria, a top trading partner in Africa.
- Exports to Nigeria support thousands of jobs in Alabama's manufacturing and agriculture sectors.
- The value of Alabama's exports to Nigeria has fluctuated in recent years due to global economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total dollar value of goods and services exported from the state of Alabama to Nigeria, one of its key trade partners in Africa.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding Alabama's international trade dynamics and economic ties with major overseas markets, which can inform business strategies and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Alabama-based exporters and compiled by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and business analysts use this metric to assess Alabama's export performance and identify opportunities for growth in trade with Nigeria and other African markets.
Q: Are there update delays or limitations?
A: The data is subject to typical lags in reporting by the Census Bureau, with the most recent figures typically available several months after the reference period.
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Citation
U.S. Federal Reserve, Value of Exports to Nigeria from Alabama (ALNGAA052SCEN), retrieved from FRED.