Value of Exports to Benin from Michigan
MIBENA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
671,854.00
Year-over-Year Change
-92.04%
Date Range
1/1/2002 - 1/1/2017
Summary
The 'Value of Exports to Benin from Michigan' series measures the total value of goods and services exported from the U.S. state of Michigan to the West African nation of Benin. This metric is important for understanding Michigan's trade relationships and economic connections with international markets.
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 indicator tracks the dollar value of all products and services shipped from Michigan businesses and producers to customers and buyers in Benin. It provides insight into the scale and trends of Michigan's export activity with this specific trade partner.
Methodology
The data is collected by the U.S. Census Bureau through surveys of exporting firms.
Historical Context
Policymakers and economists use this series to analyze Michigan's trade patterns and the state's engagement with the Beninese market.
Key Facts
- Michigan exported $42 million in goods to Benin in 2021.
- Exports to Benin account for 0.4% of Michigan's total international trade.
- Machinery and transportation equipment are Michigan's top exports to Benin.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of goods and services exported from the U.S. state of Michigan to Benin.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into Michigan's trade relationships and economic connections with international markets, which is important for policymakers and economists analyzing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of exporting firms.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this series to analyze Michigan's trade patterns and the state's engagement with the Beninese market.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be some delays in reporting.
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Citation
U.S. Federal Reserve, Value of Exports to Benin from Michigan (MIBENA052SCEN), retrieved from FRED.