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Imports (I-O)
Updated over a week ago

For the purposes of this definition, “region” refers to the area defined by the user and passed into Analyst/Developer.

Imports show the amount of money that is spent by all industries located in the region in exchange for goods or services produced by an industry located outside the region. Money leaves the region, and a good or service is brought into the region and consumed.

Imports can be foreign or domestic. An example of foreign imports would be a firm in New York paying money for consulting services from a firm in Toronto. An example of domestic imports would be the same firm in New York purchasing consulting services from a firm in Alabama.

The imports figure does not directly include wages of employees in the industry from which goods or services were purchased. Money used to purchase imported goods and services will likely be indirectly used to pay employees of the industry from which the good or service was purchased (regardless of where the employee lives), but the imports figure is agnostic of what the industry producing the good or service will do with the money.

Source: Lightcast’s model, incorporating data from the Bureau of Economic Analysis (BEA).

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