Value of Exports to Philippines from Michigan
MIPHLA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68,839,431.00
Year-over-Year Change
-24.17%
Date Range
1/1/1992 - 1/1/2017
Summary
The 'Value of Exports to Philippines from Michigan' trend measures the total dollar value of goods and services exported from the U.S. state of Michigan to the Philippines. This metric is important for understanding Michigan's international trade dynamics and competitiveness.
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 tracks the monetary value of Michigan's exports to the Philippines, a key trading partner. Economists and policymakers use this data to analyze Michigan's export performance, trade balance, and economic integration with the Philippines market.
Methodology
The data is collected and reported by the U.S. Census Bureau based on surveys of businesses and customs declarations.
Historical Context
Monitoring Michigan's exports to the Philippines provides insights into the state's participation in global value chains and the impacts of trade policies.
Key Facts
- Michigan exported over $700 million in goods to the Philippines in 2021.
- The Philippines is Michigan's 10th largest export destination.
- Automotive parts and agricultural products are major Michigan exports to the Philippines.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total dollar value of goods and services exported from the U.S. state of Michigan to the Philippines.
Q: Why is this trend relevant for users or analysts?
A: Monitoring Michigan's exports to the Philippines provides insights into the state's international trade performance and economic integration with a key Asian market.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau based on surveys of businesses and customs declarations.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to analyze Michigan's trade balance, export competitiveness, and the impacts of trade policies on the state's economy.
Q: Are there update delays or limitations?
A: This data is typically published with a 1-2 month delay as it relies on customs and survey reporting.
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Citation
U.S. Federal Reserve, Value of Exports to Philippines from Michigan (MIPHLA052SCEN), retrieved from FRED.