External Trade: Volume of Imports of Goods and Services for Thailand
THATMRPCPPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.58
Year-over-Year Change
-562.07%
Date Range
1/1/2016 - 1/1/2024
Summary
The 'External Trade: Volume of Imports of Goods and Services for Thailand' measures the quantity of imported goods and services in Thailand. This is a key economic indicator for policymakers and analysts to assess Thailand's trade dynamics and international competitiveness.
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 volume, or quantity, of imports into Thailand, including both goods and services. Economists use this metric to understand Thailand's participation in global trade and the factors influencing its trade balance and current account.
Methodology
The data is collected by Thailand's National Statistical Office through surveys of trade flows.
Historical Context
Policymakers and central banks monitor import volumes to gauge domestic demand, inflationary pressures, and the overall strength of the Thai economy.
Key Facts
- Thailand is a major global importer, with imports equal to over 50% of GDP.
- Import volumes are a key input for Thailand's current account and trade balance.
- Thailand's imports are dominated by machinery, fuels, chemicals, and base metals.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the quantity, or volume, of goods and services imported into Thailand. It is a key metric for understanding Thailand's trade flows and international economic integration.
Q: Why is this trend relevant for users or analysts?
A: Import volumes are a crucial indicator for assessing Thailand's trade dynamics, domestic demand conditions, and overall economic performance. Policymakers and economists monitor this data to gauge Thailand's competitiveness and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected by Thailand's National Statistical Office through surveys of trade flows.
Q: How is this trend used in economic policy?
A: Policymakers and central banks in Thailand closely monitor import volumes to understand domestic demand, inflationary pressures, and the overall strength of the Thai economy. This data informs decisions on monetary, fiscal, and trade policies.
Q: Are there update delays or limitations?
A: There may be some delays in data reporting, as the information is collected through surveys. Additionally, the data may not capture all informal or unrecorded trade flows.
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Citation
U.S. Federal Reserve, External Trade: Volume of Imports of Goods and Services for Thailand (THATMRPCPPPT), retrieved from FRED.