International Merchandise Trade Statistics: Imports: Commodities for Colombia
COLXTIMVA01NCMLQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68,028,750,000,000.00
Year-over-Year Change
-8.05%
Date Range
1/1/1990 - 1/1/2025
Summary
This economic trend measures the value of commodities imported into Colombia. It is a key indicator of the country's trade balance and global economic engagement.
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: Imports: Commodities for Colombia series tracks the monetary value of all goods and commodities imported into the Colombian economy. This data provides insights into the structure of Colombia's import trade and can inform economic policy decisions.
Methodology
The data is collected through customs records and official government reporting.
Historical Context
Policymakers and analysts use this import data to assess Colombia's trade dynamics and competitiveness.
Key Facts
- Colombia is a major trading partner for the United States.
- Imports make up around 20% of Colombia's GDP.
- Top imported commodities include machinery, transportation equipment, and chemical products.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total monetary value of all commodities and goods imported into the Colombian economy.
Q: Why is this trend relevant for users or analysts?
A: This import data provides important insights into Colombia's trade balance, global economic integration, and domestic consumption patterns.
Q: How is this data collected or calculated?
A: The data is collected through official customs records and government reporting on international trade.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this import data to assess Colombia's trade dynamics, competitiveness, and the impact on the overall economy.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis, but there may be a 1-2 month lag in availability.
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Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Imports: Commodities for Colombia (COLXTIMVA01NCMLQ), retrieved from FRED.