Price Level of Imports for Iraq
PLMCPPIQA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.68
Year-over-Year Change
14.76%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Imports for Iraq measures changes in the prices of goods and services imported into Iraq. It is a key economic indicator for understanding Iraq's trade dynamics and assessing the competitiveness of its domestic industries.
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
The Price Level of Imports for Iraq is an index that tracks the prices of a representative basket of goods and services imported into the country. It is used by economists and policymakers to analyze Iraq's international trade patterns, evaluate the impact of exchange rate movements, and inform decisions around trade policy and domestic production.
Methodology
The data is collected through surveys of importers and compiled by the Iraqi Central Statistical Organization.
Historical Context
Trends in the Price Level of Imports for Iraq provide insights into Iraq's integration with global markets and the competitiveness of its domestic industries.
Key Facts
- The base year for the Price Level of Imports for Iraq index is 2016.
- Iraq is a major importer of goods, with imports accounting for over 40% of its GDP.
- The Price Level of Imports index can signal changes in Iraq's terms of trade and purchasing power.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Iraq measures changes in the prices of goods and services imported into the country. It is an index that tracks the prices of a representative basket of imported items.
Q: Why is this trend relevant for users or analysts?
A: Trends in the Price Level of Imports for Iraq provide important insights into the country's international trade dynamics, competitiveness of domestic industries, and the impact of exchange rate movements on purchasing power.
Q: How is this data collected or calculated?
A: The data is collected through surveys of importers and compiled by the Iraqi Central Statistical Organization.
Q: How is this trend used in economic policy?
A: Trends in the Price Level of Imports for Iraq are used by economists and policymakers to analyze Iraq's integration with global markets, evaluate the impact of trade policies, and inform decisions around domestic production and economic competitiveness.
Q: Are there update delays or limitations?
A: The Price Level of Imports for Iraq data may be subject to periodic update delays due to the time required for data collection and compilation by the Iraqi government.
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Citation
U.S. Federal Reserve, Price Level of Imports for Iraq (PLMCPPIQA670NRUG), retrieved from FRED.