Value of Exports to Nigeria from Ohio
OHNGAA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,766,590.00
Year-over-Year Change
115.02%
Date Range
1/1/1992 - 1/1/2017
Summary
The 'Value of Exports to Nigeria from Ohio' series measures the dollar value of goods and services exported from the state of Ohio to Nigeria. This metric is important for analyzing trade patterns and economic relationships between U.S. states and international 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 data series tracks the total value of exports originating from Ohio that are destined for Nigeria. It provides insight into the commercial and economic ties between the state and this key African market. Economists and policymakers use this information to assess Ohio's export performance and competitiveness in the global economy.
Methodology
The data is collected by the U.S. Census Bureau through surveys of businesses and customs records.
Historical Context
Trends in Ohio's exports to Nigeria are closely monitored by trade groups, industry analysts, and economic development agencies.
Key Facts
- Ohio is a major exporting state, ranking 7th nationally by value of exports.
- Nigeria is Ohio's 15th largest export market globally.
- Exports to Nigeria account for approximately 2% of Ohio's total international trade.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total dollar value of goods and services exported from the U.S. state of Ohio to the country of Nigeria.
Q: Why is this trend relevant for users or analysts?
A: The 'Value of Exports to Nigeria from Ohio' metric provides important insights into the trade relationship between Ohio and a key international market, which is valuable information for economists, businesses, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of businesses and customs records.
Q: How is this trend used in economic policy?
A: Trends in Ohio's exports to Nigeria are closely monitored by trade groups, industry analysts, and economic development agencies to assess the state's export performance and competitiveness in the global economy.
Q: Are there update delays or limitations?
A: There may be lags in the data reporting due to the time required for the Census Bureau to collect and process the information from businesses and customs.
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Citation
U.S. Federal Reserve, Value of Exports to Nigeria from Ohio (OHNGAA052SCEN), retrieved from FRED.