Value of Exports to Nigeria from Illinois
ILNGAA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,694,524.00
Year-over-Year Change
54.80%
Date Range
1/1/1992 - 1/1/2017
Summary
The 'Value of Exports to Nigeria from Illinois' metric tracks the total dollar value of goods and services exported from the state of Illinois to Nigeria. This data point is important for economists and policymakers to monitor trade activity and trends.
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 economic series represents the monetary value of all products and services shipped from Illinois to Nigeria over a given time period. It provides insight into the commercial relationship and trade flows between the two regions, which is useful for analyzing state-level export activity and international trade patterns.
Methodology
The data is collected by the U.S. Census Bureau through surveys of businesses and customs records.
Historical Context
This export value trend is utilized by government agencies, trade organizations, and economic analysts to assess the health of Illinois' export economy and its engagement with the Nigerian market.
Key Facts
- Illinois is a major exporting state, ranking 5th nationally.
- Nigeria is the largest economy in Africa and a key trade partner.
- Export values can fluctuate due to exchange rates, tariffs, and economic conditions.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total monetary value of goods and services exported from the state of Illinois to Nigeria over a given time period.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the trade relationship between Illinois and Nigeria, which is useful for assessing state-level export activity and broader international commerce patterns.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through surveys of businesses and customs records.
Q: How is this trend used in economic policy?
A: Government agencies, trade organizations, and economic analysts utilize this export value trend to monitor the health of Illinois' export economy and its engagement with the Nigerian market.
Q: Are there update delays or limitations?
A: There may be lags in data reporting and potential limitations due to confidentiality rules or sampling methodologies.
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Citation
U.S. Federal Reserve, Value of Exports to Nigeria from Illinois (ILNGAA052SCEN), retrieved from FRED.