Balance of Payments: Services: Expenditure for Austria
AUTB6DBSE03STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.78
Year-over-Year Change
17.94%
Date Range
1/1/1995 - 10/1/2024
Summary
The Balance of Payments: Services: Expenditure for Austria measures the value of services expenditures between Austria and other countries. This metric provides insight into Austria's international trade and economic integration.
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 Balance of Payments: Services: Expenditure for Austria tracks the value of services-related transactions, such as tourism, transportation, and professional services, between Austria and its international trading partners. This data point is a key indicator of Austria's participation in the global services economy.
Methodology
The data is collected and calculated by the Austrian National Bank based on surveys of businesses and other economic entities.
Historical Context
Policymakers and analysts use this metric to assess Austria's trade competitiveness and the health of its services sector.
Key Facts
- Austria is a major exporter of services, accounting for over 60% of its total exports.
- Services expenditure has grown by over 40% in the past decade, reflecting Austria's economic diversification.
- Austria maintains a consistent services trade surplus, contributing to its overall current account surplus.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Services: Expenditure for Austria tracks the value of services-related transactions, such as tourism, transportation, and professional services, between Austria and its international trading partners.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Austria's international trade and economic integration, as well as the health and competitiveness of its services sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Austrian National Bank based on surveys of businesses and other economic entities.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Austria's trade competitiveness and the health of its services sector, which is crucial for informing economic policies and strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Austria (AUTB6DBSE03STSAQ), retrieved from FRED.