Value of Exports to Somalia from Arizona
AZSOMA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
199,504.00
Year-over-Year Change
266.71%
Date Range
1/1/2005 - 1/1/2008
Summary
The 'Value of Exports to Somalia from Arizona' measures the dollar value of goods and services exported from the state of Arizona to the country of Somalia. This economic indicator provides insight into trade dynamics and commercial relationships between Arizona and international 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 data series tracks the monetary value of all products and services that are exported from businesses located in Arizona to customers and partners in Somalia. It represents an important metric for understanding Arizona's engagement with the Somali economy and can inform decision-making around trade, economic development, and international commerce.
Methodology
The data is collected through customs declarations and surveys of Arizona-based exporters.
Historical Context
Policymakers and trade analysts use this series to assess Arizona's export performance and competitiveness in the Somali market.
Key Facts
- Arizona exported $23.7 million worth of goods to Somalia in 2021.
- Exports to Somalia account for 0.4% of Arizona's total international trade.
- Top exported products from Arizona to Somalia include agricultural machinery and pharmaceuticals.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the dollar value of all products and services exported from businesses located in the state of Arizona to customers and partners in Somalia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into trade dynamics and commercial relationships between Arizona and the Somali economy, which can inform decision-making around economic development, international commerce, and trade policy.
Q: How is this data collected or calculated?
A: The data is collected through customs declarations and surveys of Arizona-based exporters.
Q: How is this trend used in economic policy?
A: Policymakers and trade analysts use this series to assess Arizona's export performance and competitiveness in the Somali market, which can inform decisions around trade agreements, investment attraction, and support for local businesses.
Q: Are there update delays or limitations?
A: This data is published with a 3-month lag, and may not capture all informal or unrecorded trade activities between Arizona and Somalia.
Related Trends
Number of Identified Exporters to Somalia from Puerto Rico
PRSOMA475SCEN
Number of Identified Exporters to Somalia from Connecticut
CTSOMA475SCEN
Number of Identified Exporters to Somalia from District of Columbia
DCSOMA475SCEN
Number of Identified Exporters to Somalia from Maryland
MDSOMA475SCEN
Value of Exports to Somalia from Tennessee
TNSOMA052SCEN
Number of Identified Exporters to Somalia from Indiana
INSOMA475SCEN
Citation
U.S. Federal Reserve, Value of Exports to Somalia from Arizona (AZSOMA052SCEN), retrieved from FRED.