International Trade: Imports: Value (goods): Total for the European Union
EU28XTIMVA01NCMLSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
462,959,300,000.00
Year-over-Year Change
-1.16%
Date Range
1/1/1999 - 1/1/2020
Summary
This economic trend measures the total value of goods imported into the European Union. It is an important indicator of international trade and economic activity.
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 the European Union series tracks the total monetary value of all goods imported into the EU. This statistic is widely used by economists and policymakers to analyze the EU's international trade balance and assess the strength of domestic demand.
Methodology
The data is collected and reported by Eurostat, the statistical office of the European Union.
Historical Context
Trends in EU imports are closely watched by central banks, trade organizations, and market analysts.
Key Facts
- The EU is the world's largest importer of goods.
- Imports account for over 15% of the EU's GDP.
- China is the EU's largest source of imports.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total monetary value of all goods imported into the European Union, providing insight into the EU's international trade balance.
Q: Why is this trend relevant for users or analysts?
A: Trends in EU imports are closely watched by economists, policymakers, and market analysts as an indicator of domestic demand, global trade flows, and the EU's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and reported by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: Policymakers and central banks use this data to monitor the EU's trade balance, assess the strength of domestic demand, and inform decisions on trade policy and monetary policy.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis with a lag of several weeks, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, International Trade: Imports: Value (goods): Total for the European Union (EU28XTIMVA01NCMLSAM), retrieved from FRED.