Imports of Services, Balance of Payments Basis
BOPSIMP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72,483.00
Year-over-Year Change
4.49%
Date Range
1/1/1992 - 6/1/2025
Summary
The Imports of Services, Balance of Payments Basis measures the value of services purchased by U.S. residents from foreign providers. This economic indicator is important for understanding the U.S. trade balance and competitiveness in the global services market.
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 series represents the value of services imported into the United States, including categories like travel, transportation, and intellectual property. It is a key component of the U.S. balance of payments and provides insight into the nation's engagement in international trade of services.
Methodology
The data is collected through surveys of U.S. companies and individuals by the Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the U.S. trade position and competitiveness in the global services economy.
Key Facts
- The U.S. is the world's largest importer of services.
- Services imports account for about 30% of total U.S. imports.
- Travel and intellectual property imports are the largest service trade categories.
FAQs
Q: What does this economic trend measure?
A: The Imports of Services, Balance of Payments Basis measures the value of services purchased by U.S. residents from foreign providers, including categories like travel, transportation, and intellectual property.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the U.S. trade balance and competitiveness in the global services market, which is a key factor for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. companies and individuals by the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the U.S. trade position and competitiveness in the global services economy, which informs decisions on trade policies and economic strategies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 2-month lag between the reference period and publication.
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Citation
U.S. Federal Reserve, Imports of Services, Balance of Payments Basis (BOPSIMP), retrieved from FRED.