Value of Exports to Somalia from New York
NYSOMA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107,158.00
Year-over-Year Change
225.03%
Date Range
1/1/2007 - 1/1/2016
Summary
The 'Value of Exports to Somalia from New York' series measures the total dollar value of goods exported from the state of New York to Somalia. This metric provides insight into trade flows and economic ties between the two regions.
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 monetary value of merchandise and products shipped from New York to Somalia, including manufactured goods, agricultural products, and other commodities. It is an important indicator of the commercial relationship and economic interdependence between the two locations.
Methodology
The data is collected by the U.S. Census Bureau through surveys of exporters and shipping manifests.
Historical Context
Policymakers and economists analyze this metric to assess the strength of New York's export markets and Somalia's role in the state's international trade.
Key Facts
- New York is a major exporting state in the U.S.
- Somalia is a relatively small trading partner for New York compared to other African nations.
- Exports to Somalia from New York have fluctuated significantly over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the total dollar value of goods and merchandise exported from the state of New York to the country of Somalia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the trade relationship and economic ties between New York and Somalia, which is relevant for policymakers, economists, and businesses interested in New York's export markets and international trade patterns.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of exporters and shipping manifests.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess the strength of New York's export markets and Somalia's role in the state's international trade, which can inform economic development strategies and trade policies.
Q: Are there update delays or limitations?
A: The data is published with a delay, and the value of exports to Somalia from New York may be subject to significant volatility due to the relatively small trade volume between the two regions.
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Citation
U.S. Federal Reserve, Value of Exports to Somalia from New York (NYSOMA052SCEN), retrieved from FRED.