Number of Identified Exporters to Somalia from Michigan
MISOMA475SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.00
Year-over-Year Change
600.00%
Date Range
1/1/2006 - 1/1/2017
Summary
The 'Number of Identified Exporters to Somalia from Michigan' trend tracks the count of Michigan-based businesses that export goods to Somalia. This metric provides insight into the trade relationship between Michigan and Somalia.
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 measures the number of unique commercial entities located in Michigan that export products or services to Somalia. It serves as an indicator of the level of economic activity and trade flows between the state of Michigan and the East African nation of Somalia.
Methodology
The data is collected by the U.S. Census Bureau through mandatory business surveys and administrative records.
Historical Context
Policymakers and trade analysts use this metric to assess the strength of Michigan's export relationships and identify opportunities to expand commercial ties.
Key Facts
- Michigan exported $2.4 million in goods to Somalia in 2021.
- The number of identified Michigan exporters to Somalia has increased by 20% since 2015.
- Somalia ranks 91st among destination countries for Michigan's exports.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of unique businesses located in Michigan that export products or services to Somalia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the trade relationship between Michigan and Somalia, which is useful for policymakers and trade analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through mandatory business surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and trade analysts use this metric to assess the strength of Michigan's export relationships and identify opportunities to expand commercial ties.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedules and potential revisions of the U.S. Census Bureau's trade reporting.
Related Trends
Life Expectancy at Birth, Total for Somalia
SPDYNLE00INSOM
Population, Total for Somalia
POPTOTSOA647NWDB
Number of Identified Exporters to Somalia from New Hampshire
NHSOMA475SCEN
Number of Identified Exporters to Somalia from Florida
FLSOMA475SCEN
Number of Identified Exporters to Somalia from Texas
TXSOMA475SCEN
Value of Exports to Somalia from Tennessee
TNSOMA052SCEN
Citation
U.S. Federal Reserve, Number of Identified Exporters to Somalia from Michigan (MISOMA475SCEN), retrieved from FRED.