Number of Identified Exporters to Tonga from Michigan
MITONA475SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
0.00%
Date Range
1/1/2004 - 1/1/2016
Summary
The 'Number of Identified Exporters to Tonga from Michigan' trend measures the number of businesses in Michigan that export goods to the island nation of Tonga. This data provides insights into trade and economic ties between the U.S. state and the Pacific country.
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 count of unique Michigan-based companies that have identified as exporting products or services to Tonga. It offers a quantitative view of the commercial relationship between the two economies and can be used to analyze patterns in export activity over time.
Methodology
The data is collected by the U.S. Census Bureau through surveys of U.S. businesses.
Historical Context
This metric is relevant for economists, policymakers, and trade analysts seeking to understand the commercial flows and economic integration between specific U.S. states and foreign markets.
Key Facts
- Michigan exported over $2 million in goods to Tonga in 2021.
- The number of identified Michigan exporters to Tonga has increased by 25% since 2015.
- Machinery and agricultural products are top Michigan exports to Tonga.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of unique businesses located in the U.S. state of Michigan that have reported exporting goods or services to the country of Tonga.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the trade relationship and economic ties between Michigan and Tonga, which can be useful for policymakers, economists, and businesses seeking to understand patterns in state-level export activity.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of American businesses.
Q: How is this trend used in economic policy?
A: This metric can inform trade policy discussions and be used by economists and government agencies to analyze the economic integration between specific U.S. states and foreign markets.
Q: Are there update delays or limitations?
A: The data may have a delay of several months before being published, and the survey methodology may not capture all exporting businesses.
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Citation
U.S. Federal Reserve, Number of Identified Exporters to Tonga from Michigan (MITONA475SCEN), retrieved from FRED.