Nominal Imports of Goods for Ireland
NMGXDCIRA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/2012 - 1/1/2020
Summary
The Nominal Imports of Goods for Ireland metric measures the total value of physical goods imported into Ireland, providing insight into the country's international trade dynamics.
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 data series tracks the nominal, unadjusted value of goods imported into Ireland, reflecting the overall demand for foreign products in the Irish economy. It is a key indicator used by economists and policymakers to assess Ireland's trade balance and integration in global supply chains.
Methodology
The data is collected and reported by the Central Statistics Office of Ireland.
Historical Context
Trends in nominal imports are closely watched by Irish government agencies and the European Central Bank to inform economic and trade policy decisions.
Key Facts
- Ireland is a major importer of goods, with a trade deficit since the 1970s.
- Nominal imports of goods account for around 40% of Ireland's GDP.
- The top import categories are machinery, chemicals, and transport equipment.
FAQs
Q: What does this economic trend measure?
A: The Nominal Imports of Goods for Ireland metric measures the total monetary value of physical goods imported into the country, before adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This data is a key indicator of Ireland's international trade dynamics and economic integration, providing insights into consumer demand, supply chain dependencies, and the country's trade balance.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Statistics Office of Ireland.
Q: How is this trend used in economic policy?
A: Trends in nominal imports are closely monitored by Irish government agencies and the European Central Bank to inform trade, fiscal, and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical 1-2 month delay from the reference period.
Related Trends
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LFEM24TTIEA647N
U.S. Exports of Goods by F.A.S. Basis to Ireland
EXP4190
Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Industry (Except Construction) for Ireland
PRINTO01IEQ661N
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Communication for Ireland
IRLCP080000CTGYM
Outstanding Domestic Private Debt Securities to GDP for Ireland
DDDM03IEA156NWDB
Value of Exports to Ireland from Puerto Rico
PRIRLA052SCEN
Citation
U.S. Federal Reserve, Nominal Imports of Goods for Ireland (NMGXDCIRA), retrieved from FRED.