Nominal Imports of Goods for Russia
NMGNSAXDCRUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,059,491.50
Year-over-Year Change
11.21%
Date Range
1/1/2011 - 10/1/2022
Summary
The Nominal Imports of Goods for Russia tracks the dollar value of goods imported into Russia on a monthly basis. This key economic indicator provides insight into Russia's trade balance and international commerce.
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 nominal (unadjusted for inflation) value of physical goods imported into Russia. It is an important metric for analyzing Russia's international trade flows, consumer demand, and economic integration with global markets.
Methodology
The data is collected through customs declarations and surveys of importing firms by Russia's Federal State Statistics Service.
Historical Context
Policymakers and analysts use this import data to assess Russia's trade position, forecast economic growth, and understand the country's role in global supply chains.
Key Facts
- Russia is one of the world's largest importers of goods.
- Imports account for over 20% of Russia's GDP.
- Energy, machinery, and consumer goods make up the majority of Russian imports.
FAQs
Q: What does this economic trend measure?
A: The Nominal Imports of Goods for Russia tracks the total dollar value of physical goods imported into the country on a monthly basis.
Q: Why is this trend relevant for users or analysts?
A: This import data provides key insights into Russia's trade balance, consumer demand, and economic integration with global markets, which are crucial for understanding the country's economic performance.
Q: How is this data collected or calculated?
A: The data is collected through customs declarations and surveys of importing firms by Russia's Federal State Statistics Service.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this import data to assess Russia's trade position, forecast economic growth, and understand the country's role in global supply chains.
Q: Are there update delays or limitations?
A: The data is published with a short lag, usually within a few months of the reference period, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Nominal Imports of Goods for Russia (NMGNSAXDCRUQ), retrieved from FRED.