Value of Exports to Somalia from Virginia
VASOMA052SCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
974,041.00
Year-over-Year Change
93.35%
Date Range
1/1/2014 - 1/1/2017
Summary
The 'Value of Exports to Somalia from Virginia' trend measures the total dollar value of goods and services exported from the U.S. state of Virginia to Somalia. This provides insight into Virginia's trade relationship and economic ties with the East African nation.
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 value of all exported products, including agricultural goods, machinery, and other commodities, that are shipped from Virginia to Somalia. It is an important indicator of the commercial activity and economic cooperation between the two regions.
Methodology
The data is collected and reported by the U.S. Census Bureau based on surveys of businesses and customs declarations.
Historical Context
Policymakers and trade analysts use this metric to monitor shifts in Virginia's export patterns and Somalia's broader trade dynamics.
Key Facts
- Virginia is a major exporting state, with over $36 billion in total exports annually.
- Somalia relies heavily on imports to meet domestic demand, with trade playing a key role in its economy.
- Exports from Virginia to Somalia have fluctuated in recent years due to geopolitical and economic factors.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services exported from the U.S. state of Virginia to Somalia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the trade relationship and economic ties between Virginia and Somalia, which is important for policymakers and businesses.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau based on surveys of businesses and customs declarations.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to monitor shifts in Virginia's export patterns and Somalia's broader trade dynamics, which can inform trade policies and commercial strategies.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and potential limitations in capturing all export activities, but the Census Bureau makes efforts to provide timely and comprehensive trade statistics.
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Citation
U.S. Federal Reserve, Value of Exports to Somalia from Virginia (VASOMA052SCEN), retrieved from FRED.