US Dollars, Sum Over Component Sub-periods, Annual
BPFADI03NOA637N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,725,580,000.00
Year-over-Year Change
216.73%
Date Range
1/1/1994 - 1/1/2013
Summary
This economic trend measures the total annual U.S. dollar value of imports and exports. It is a key indicator of international trade and the U.S. balance of payments.
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 'US Dollars, Sum Over Component Sub-periods, Annual' series tracks the total value of goods and services exchanged between the U.S. and other countries over a calendar year. It is a widely used metric for assessing the nation's trade position and international economic standing.
Methodology
The data is collected and aggregated by the U.S. Bureau of Economic Analysis (BEA) from various sources.
Historical Context
Policymakers and analysts monitor this trend to understand the U.S. trade balance and broader macroeconomic conditions.
Key Facts
- The U.S. trade deficit reached a record high of $948 billion in 2022.
- China is the largest source of U.S. imports, while Canada and Mexico are the top destinations for U.S. exports.
- The service trade surplus partially offsets the larger goods trade deficit.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total annual U.S. dollar value of imports and exports of goods and services between the United States and other countries.
Q: Why is this trend relevant for users or analysts?
A: The U.S. trade balance is a key indicator of the nation's international economic position and competitiveness. Monitoring this trend helps policymakers and analysts assess macroeconomic conditions and the impacts of trade policies.
Q: How is this data collected or calculated?
A: The data is collected and aggregated by the U.S. Bureau of Economic Analysis (BEA) from various sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely follow this trend to understand the U.S. trade position and make informed decisions about trade policies, tariffs, and other measures that can impact international commerce.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 2-month lag. There may also be revisions to prior-period figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, US Dollars, Sum Over Component Sub-periods, Annual (BPFADI03NOA637N), retrieved from FRED.