International Trade: Imports: Value (Goods): Total for Colombia
COLXTIMVA01STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.39
Year-over-Year Change
-2.47%
Date Range
1/1/2005 - 7/1/2023
Summary
This economic trend measures the total value of goods imported into Colombia. It is a key indicator of a country's international trade activity and economic integration.
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 Trade: Imports: Value (Goods): Total for Colombia series tracks the monetary value of all physical goods imported into the Colombian economy, including raw materials, intermediate inputs, and final consumer products. This data is used by economists and policymakers to analyze Colombia's trade balance, international competitiveness, and exposure to global economic conditions.
Methodology
The data is collected and reported by Colombia's national statistical agency based on customs declarations and other administrative records.
Historical Context
This import value trend is widely referenced in analysis of Colombia's macroeconomic performance and trade policy.
Key Facts
- Colombia is the 4th largest economy in Latin America.
- Imports account for over 20% of Colombia's GDP.
- China is Colombia's largest import source, followed by the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total monetary value of all physical goods imported into the Colombian economy, including raw materials, intermediate inputs, and consumer products.
Q: Why is this trend relevant for users or analysts?
A: This import value data is a key indicator of Colombia's trade activity, economic integration, and exposure to global conditions. It informs analysis of the country's trade balance, competitiveness, and macroeconomic performance.
Q: How is this data collected or calculated?
A: The data is collected and reported by Colombia's national statistical agency based on customs declarations and other administrative records.
Q: How is this trend used in economic policy?
A: This import value trend is widely referenced in analysis supporting Colombia's trade and macroeconomic policies, as it reflects the country's international economic integration and competitiveness.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically 1-2 months after the reference period. There may also be revisions to previously reported figures.
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Citation
U.S. Federal Reserve, International Trade: Imports: Value (Goods): Total for Colombia (COLXTIMVA01STSAQ), retrieved from FRED.