International Merchandise Trade Statistics: Exports: Commodities for Norway
Norwegian Krone, Annual, Not Seasonally Adjusted
XTEXVA01NOA664N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,808,170,000,000.00
Year-over-Year Change
93.33%
Date Range
1/1/1955 - 1/1/2024
Summary
The Norwegian Krone, Annual, Not Seasonally Adjusted trend measures the yearly exchange rate between the Norwegian Krone and the U.S. Dollar. It is a key indicator for analyzing Norway's economic performance and international trade dynamics.
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 annual average exchange rate of the Norwegian Krone against the U.S. Dollar on a not seasonally adjusted basis. The exchange rate is a fundamental economic indicator used to assess a country's international competitiveness, capital flows, and trade balances.
Methodology
The data is collected by the U.S. Federal Reserve through monitoring foreign exchange markets.
Historical Context
Policymakers and analysts use the Norwegian Krone exchange rate to inform decisions around monetary policy, international investment, and trade agreements.
Key Facts
- The Norwegian Krone is the official currency of Norway.
- Norway is one of the world's largest exporters of oil and natural gas.
- The Krone exchange rate is closely monitored by the Norges Bank, Norway's central bank.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual average exchange rate between the Norwegian Krone and the U.S. Dollar on a not seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: The Norwegian Krone exchange rate is a critical indicator for analyzing Norway's international trade, economic competitiveness, and capital flows.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through monitoring foreign exchange markets.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Norwegian Krone exchange rate to inform decisions around monetary policy, international investment, and trade agreements.
Q: Are there update delays or limitations?
A: The data is provided on an annual basis and may have a time lag compared to real-time exchange rate movements.
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Citation
U.S. Federal Reserve, Norwegian Krone, Annual, Not Seasonally Adjusted (XTEXVA01NOA664N), retrieved from FRED.