International Merchandise Trade Statistics: Trade Balance: Commodities for Norway
Norwegian Krone, Annual, Seasonally Adjusted
XTNTVA01NOA664S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
718,211,200,000.00
Year-over-Year Change
69.03%
Date Range
1/1/1955 - 1/1/2024
Summary
The Norwegian Krone, Annual, Seasonally Adjusted trend measures the value of the Norwegian krone relative to other currencies, adjusted for seasonal factors. This metric is important for analyzing Norway's international trade 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 Norwegian Krone, Annual, Seasonally Adjusted trend tracks the yearly average exchange rate of the Norwegian krone against a basket of foreign currencies, with seasonal variations removed. It provides insight into Norway's trade competitiveness and the strength of its currency over time.
Methodology
The data is collected by the U.S. Federal Reserve and calculated based on market exchange rates.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess Norway's economic health and international position.
Key Facts
- Norway is a major exporter of oil, gas, and other commodities.
- The Norwegian krone is one of the most traded currencies in the world.
- Exchange rate fluctuations can significantly impact Norway's economy.
FAQs
Q: What does this economic trend measure?
A: The Norwegian Krone, Annual, Seasonally Adjusted trend measures the yearly average exchange rate of the Norwegian krone against other major currencies, with seasonal variations removed.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into Norway's trade competitiveness and the overall strength of its currency, which are crucial factors for economists, policymakers, and market participants to monitor.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve and calculated based on market exchange rates.
Q: How is this trend used in economic policy?
A: The Norwegian Krone, Annual, Seasonally Adjusted trend is widely used by policymakers, central banks, and economists to assess Norway's economic performance and make informed decisions about trade, monetary policy, and other economic strategies.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, but there may be occasional delays or limitations in data availability depending on market conditions and reporting schedules.
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Citation
U.S. Federal Reserve, Norwegian Krone, Annual, Seasonally Adjusted (XTNTVA01NOA664S), retrieved from FRED.