U.S. Imports of Goods by Customs Basis from Somalia
IMP7700 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.17
Year-over-Year Change
87.15%
Date Range
1/1/1992 - 6/1/2025
Summary
The 'U.S. Imports of Goods by Customs Basis from Somalia' series measures the value of goods imported into the United States from Somalia on a customs basis. This metric is useful for tracking trade flows and monitoring economic relations between the two countries.
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 series represents the total value of goods imported into the United States from Somalia, measured on a customs basis. Customs-based data is a common method for tracking international trade and can provide insights into the commercial relationship between countries.
Methodology
The data is collected by the U.S. Census Bureau through their import transaction records.
Historical Context
This import data is used by economists, policymakers, and market analysts to assess trade dynamics and economic ties between the U.S. and Somalia.
Key Facts
- Somalia is a major trading partner for the United States in East Africa.
- Import values from Somalia have fluctuated significantly in recent years.
- Tracking U.S. imports can provide insight into the overall economic relationship between the two countries.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of goods imported into the United States from Somalia, reported on a customs basis.
Q: Why is this trend relevant for users or analysts?
A: This import data is useful for monitoring trade flows and the commercial relationship between the U.S. and Somalia, which is important for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through their import transaction records.
Q: How is this trend used in economic policy?
A: This import data is used by economists and policymakers to assess trade dynamics and the overall economic ties between the United States and Somalia.
Q: Are there update delays or limitations?
A: There may be delays in reporting the latest import data, and the information may not capture all trade flows between the two countries.
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Citation
U.S. Federal Reserve, U.S. Imports of Goods by Customs Basis from Somalia (IMP7700), retrieved from FRED.