International Trade: Imports: Value (Goods): Total for Turkey
XTIMVA01TRQ188S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.59
Year-over-Year Change
4.68%
Date Range
1/1/1998 - 7/1/2023
Summary
The 'International Trade: Imports: Value (Goods): Total for Turkey' series measures the total value of goods imported into Turkey. This metric is a key indicator of Turkey's trade balance and economic activity.
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 dollar value of all merchandise goods imported into Turkey, including raw materials, intermediate goods, and final consumer products. It is a widely-used indicator of Turkey's international trade position and can provide insights into the strength of domestic demand and production capacity.
Methodology
The data is collected and reported by the Turkish Statistical Institute based on customs records and declarations.
Historical Context
Policymakers and economists monitor Turkey's import trends closely to assess the health of the overall economy and factors like inflation, competitiveness, and foreign exchange policies.
Key Facts
- Turkey is one of the largest economies in the Middle East and Eastern Europe.
- Imports account for over 25% of Turkey's GDP.
- Turkey's top import partners are China, Germany, and Russia.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of all merchandise goods imported into Turkey, providing insight into the country's trade balance and domestic demand.
Q: Why is this trend relevant for users or analysts?
A: Import trends are a key indicator of Turkey's economic health and international competitiveness, making this data crucial for policymakers, investors, and economists analyzing the Turkish economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Turkish Statistical Institute based on customs records and import declarations.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor import data to assess domestic demand, inflation pressures, and the effectiveness of exchange rate and trade policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of 2-3 months. It may not capture all informal or unrecorded imports.
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Citation
U.S. Federal Reserve, International Trade: Imports: Value (Goods): Total for Turkey (XTIMVA01TRQ188S), retrieved from FRED.