Nominal Imports of Goods and Services for India
NMNSAXDCINQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,261,701.50
Year-over-Year Change
20.46%
Date Range
4/1/2004 - 1/1/2025
Summary
The Nominal Imports of Goods and Services for India measures the total monetary value of all goods and services imported into India. This metric is a key indicator of India's trade balance and economic integration with global 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 India's nominal (current dollar) imports of both goods and services. It is an important macroeconomic indicator used to assess the country's trade position, foreign exchange needs, and overall economic openness and engagement with the world.
Methodology
The data is collected and calculated by India's Ministry of Commerce and Industry based on customs records and surveys of service trade.
Historical Context
Policymakers and analysts monitor this import data to gauge India's trade competitiveness, inflationary pressures, and the impact of exchange rate movements.
Key Facts
- India is the world's 5th largest importer of goods and services.
- Imports accounted for over 24% of India's GDP in 2021.
- India's top import categories are crude oil, electronics, and machinery.
FAQs
Q: What does this economic trend measure?
A: The Nominal Imports of Goods and Services for India measures the total monetary value of all goods and services imported into the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of India's trade balance, foreign exchange needs, and overall economic integration with global markets.
Q: How is this data collected or calculated?
A: The data is collected and calculated by India's Ministry of Commerce and Industry based on customs records and surveys of service trade.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this import data to gauge India's trade competitiveness, inflationary pressures, and the impact of exchange rate movements.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 6-8 week lag.
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Citation
U.S. Federal Reserve, Nominal Imports of Goods and Services for India (NMNSAXDCINQ), retrieved from FRED.