Balance of Payments: Services: Expenditure for Canada
CANB6DBSE02STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.53
Year-over-Year Change
1.61%
Date Range
1/1/1981 - 10/1/2024
Summary
The Balance of Payments: Services: Expenditure for Canada measures the value of services transactions between Canada and the rest of the world. This metric is crucial for understanding Canada's international trade position and competitiveness.
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 expenditure portion of Canada's balance of payments for services trade. It captures the value of services exported from Canada to other countries as well as services imported into Canada. Economists and policymakers analyze this data to assess Canada's trade flows and competitiveness in the global services market.
Methodology
The data is collected by Statistics Canada through surveys and administrative sources.
Historical Context
This metric is closely watched by the Bank of Canada and other government agencies to inform economic and trade policy decisions.
Key Facts
- Canada is a major exporter of services, including tourism, transportation, and business services.
- Services trade accounts for over 60% of Canada's total trade activity.
- The services trade balance is an important indicator of Canada's global economic competitiveness.
FAQs
Q: What does this economic trend measure?
A: This metric measures the value of services transactions, both exports and imports, between Canada and the rest of the world.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding Canada's international trade position and competitiveness in the global services market.
Q: How is this data collected or calculated?
A: The data is collected by Statistics Canada through surveys and administrative sources.
Q: How is this trend used in economic policy?
A: The Bank of Canada and other government agencies closely monitor this metric to inform economic and trade policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular basis with minimal delays, providing timely insights into Canada's services trade activity.
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Canada (CANB6DBSE02STSAQ), retrieved from FRED.