Imports of Goods for Virginia
IMPTOTVA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,461.79
Year-over-Year Change
10.07%
Date Range
1/1/2008 - 6/1/2025
Summary
The 'Imports of Goods for Virginia' series measures the total value of goods imported into the state of Virginia. This metric is important for economists and policymakers to understand Virginia's participation in global trade and the state's economic integration with the broader U.S. and international economies.
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 total dollar value of all physical goods, commodities, and products that are imported into the state of Virginia from other countries. It is a key indicator of Virginia's international trade activity and can provide insights into the state's manufacturing, consumption, and investment trends.
Methodology
The data is collected and reported by the U.S. Census Bureau through its international trade statistics programs.
Historical Context
Policymakers and analysts use this import data to assess Virginia's economic competitiveness, trade balance, and exposure to global market conditions.
Key Facts
- Virginia is a major U.S. exporting state, ranking 8th nationally by total exports.
- Machinery, vehicles, and chemical products are Virginia's top imported goods categories.
- Imports represent about 10% of Virginia's gross state product.
FAQs
Q: What does this economic trend measure?
A: The 'Imports of Goods for Virginia' series measures the total dollar value of all physical goods, commodities, and products that are imported into the state of Virginia from other countries.
Q: Why is this trend relevant for users or analysts?
A: This import data provides key insights into Virginia's participation in global trade, its manufacturing and consumption patterns, and its overall economic integration with the broader U.S. and international economies.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its international trade statistics programs.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this import data to assess Virginia's economic competitiveness, trade balance, and exposure to global market conditions.
Q: Are there update delays or limitations?
A: The import data for Virginia is typically published with a 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, Imports of Goods for Virginia (IMPTOTVA), retrieved from FRED.