International Trade: Imports: Value (Goods): Total for Saudi Arabia
SAUXTIMVA01STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.47
Year-over-Year Change
12.05%
Date Range
1/1/2005 - 7/1/2023
Summary
This economic trend measures the value of total goods imported into Saudi Arabia, a key indicator of the country's trade dynamics and integration with the global economy.
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 International Trade: Imports: Value (Goods): Total for Saudi Arabia series tracks the total monetary value of all goods imported into the Saudi Arabian economy. This metric is widely used by economists and policymakers to assess Saudi Arabia's trade balance, consumer demand, and broader economic performance.
Methodology
The data is collected and reported by the Saudi Arabian Monetary Authority based on customs records and declarations.
Historical Context
Monitoring import trends is crucial for Saudi Arabian officials to manage trade policy, exchange rates, and other macroeconomic levers.
Key Facts
- Saudi Arabia is the largest economy in the Middle East.
- Imports account for over 25% of Saudi Arabia's GDP.
- China is Saudi Arabia's largest import partner, supplying over 18% of imports.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total monetary value of all goods imported into the Saudi Arabian economy, providing insight into the country's trade dynamics and consumer demand.
Q: Why is this trend relevant for users or analysts?
A: Monitoring Saudi Arabia's import trends is crucial for understanding the country's trade balance, economic growth, and broader integration with the global economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Saudi Arabian Monetary Authority based on customs records and declarations.
Q: How is this trend used in economic policy?
A: Saudi Arabian officials closely track import data to manage trade policy, exchange rates, and other macroeconomic levers to support the country's economic development.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month lag, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, International Trade: Imports: Value (Goods): Total for Saudi Arabia (SAUXTIMVA01STSAQ), retrieved from FRED.