International Trade: Imports: Value (Goods): Total for Canada
XTIMVA01CAQ188S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.73
Year-over-Year Change
2.11%
Date Range
1/1/1961 - 7/1/2023
Summary
This economic trend measures the total value of goods imported into Canada. It provides important insights into Canada's international trade dynamics and economic performance.
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 Canada metric tracks the monetary worth of physical goods purchased by Canadian entities from foreign suppliers. This metric is widely used by economists and policymakers to analyze Canada's trade balance, domestic demand, and exposure to global economic conditions.
Methodology
The data is collected by Statistics Canada through surveys of Canadian importers and customs declarations.
Historical Context
This import value trend is a key input for evaluating Canada's macroeconomic health and trade policies.
Key Facts
- Canada is the 9th largest import market globally.
- Imports account for over 30% of Canada's GDP.
- Motor vehicles and machinery are Canada's top imported goods.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total monetary value of physical goods imported into Canada from foreign sources.
Q: Why is this trend relevant for users or analysts?
A: This import value metric provides crucial insights into Canada's trade balance, domestic demand, and exposure to global economic conditions.
Q: How is this data collected or calculated?
A: The data is collected by Statistics Canada through surveys of Canadian importers and customs declarations.
Q: How is this trend used in economic policy?
A: This import value trend is a key input for economists and policymakers evaluating Canada's macroeconomic health and trade policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, International Trade: Imports: Value (Goods): Total for Canada (XTIMVA01CAQ188S), retrieved from FRED.