Value of Exports to Iceland from Minnesota
MNISLA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,615,235.00
Year-over-Year Change
-18.31%
Date Range
1/1/1992 - 1/1/2017
Summary
The 'Value of Exports to Iceland from Minnesota' series measures the total value of goods exported from the U.S. state of Minnesota to the country of Iceland. This metric is relevant for analyzing trade flows and Minnesota's economic connections with foreign 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 series represents the dollar value of merchandise exports from Minnesota to Iceland, a key economic partner. The data is used by policymakers, businesses, and researchers to understand Minnesota's trade relationships and export performance.
Methodology
The U.S. Census Bureau collects this data through surveys of exporting companies.
Historical Context
Trends in Minnesota's exports to Iceland provide insight into the state's trade dynamics and engagement with the global economy.
Key Facts
- Minnesota exported $3.2 million in goods to Iceland in 2021.
- Iceland ranked 118th among destinations for Minnesota exports in 2021.
- Minnesota's top exports to Iceland include machinery, vehicles, and medical equipment.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of merchandise exports from the U.S. state of Minnesota to the country of Iceland.
Q: Why is this trend relevant for users or analysts?
A: Trends in Minnesota's exports to Iceland provide insight into the state's trade relationships and engagement with the global economy, which is valuable information for policymakers, businesses, and researchers.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through surveys of exporting companies.
Q: How is this trend used in economic policy?
A: Policymakers can use this data to analyze Minnesota's trade dynamics and inform decisions related to international trade, economic development, and foreign relations.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the Census Bureau publishes this information on a periodic basis. Additionally, the data may not capture all export activity, as it is limited to reported merchandise exports.
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Citation
U.S. Federal Reserve, Value of Exports to Iceland from Minnesota (MNISLA052SCEN), retrieved from FRED.