International Merchandise Trade Statistics: Imports: Commodities for Norway
Norwegian Krone, Annual, Not Seasonally Adjusted
XTIMVA01NOA664N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,088,187,000,000.00
Year-over-Year Change
114.38%
Date Range
1/1/1955 - 1/1/2024
Summary
The Norwegian Krone, Annual, Not Seasonally Adjusted trend measures the annual exchange rate between the Norwegian Krone and the U.S. Dollar on a not seasonally adjusted basis. This metric is important for analyzing Norway's trade dynamics and competitiveness in global markets.
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 Norwegian Krone, Annual, Not Seasonally Adjusted exchange rate tracks the yearly average value of the Norwegian currency relative to the U.S. Dollar. This key indicator provides insight into Norway's economic performance and international trade position, which is crucial for policymakers, investors, and economic analysts.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on market exchange rates.
Historical Context
The Norwegian Krone trend is widely used to assess Norway's trade balance, inflation, and overall macroeconomic health.
Key Facts
- Norway is a major exporter of oil, gas, and seafood.
- The Krone is a floating currency, with the exchange rate determined by market forces.
- Norway has a strong, stable economy and is a member of the European Economic Area.
FAQs
Q: What does this economic trend measure?
A: The Norwegian Krone, Annual, Not Seasonally Adjusted trend measures the yearly average exchange rate between the Norwegian Krone and the U.S. Dollar on a non-adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into Norway's trade dynamics, competitiveness, and overall economic performance, which is crucial for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on market exchange rates.
Q: How is this trend used in economic policy?
A: The Norwegian Krone trend is widely used to assess Norway's trade balance, inflation, and overall macroeconomic health, informing economic policy decisions.
Q: Are there update delays or limitations?
A: The data is reported annually without seasonal adjustments, so there may be some delay in the most recent year's figures.
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Citation
U.S. Federal Reserve, Norwegian Krone, Annual, Not Seasonally Adjusted (XTIMVA01NOA664N), retrieved from FRED.