National Accounts: GDP by Expenditure: Constant Prices: Less: Imports of Goods and Services for Austria
NAEXKP07ATQ652S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54,924,060,695.00
Year-over-Year Change
23.00%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic trend measures the inflation-adjusted value of imports of goods and services in Austria, which is a key component of the country's gross domestic product (GDP) by expenditure.
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
The 'National Accounts: GDP by Expenditure: Constant Prices: Less: Imports of Goods and Services for Austria' data series represents the volume of imports of both goods and services in Austria, adjusted for price changes over time. This metric is crucial for evaluating Austria's trade balance and economic growth.
Methodology
The data is collected and calculated by Austria's national statistical agency based on surveys and trade records.
Historical Context
Tracking imports is important for policymakers and analysts to assess Austria's international competitiveness and the domestic impact of global economic conditions.
Key Facts
- Austria's imports of goods and services were €206.6 billion in 2021.
- Imports accounted for 48.2% of Austria's GDP in 2021.
- Austria's imports grew by 12.1% in 2021 compared to the previous year.
FAQs
Q: What does this economic trend measure?
A: This data series measures the inflation-adjusted value of imports of both goods and services in Austria, which is a key component of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: Tracking imports is crucial for evaluating Austria's trade balance, international competitiveness, and the domestic impact of global economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Austria's national statistical agency based on surveys and trade records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess Austria's international trade position and the effects of global economic factors on the domestic economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions by the statistical agency.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Less: Imports of Goods and Services for Austria (NAEXKP07ATQ652S), retrieved from FRED.