Balance of Payments: Services: Expenditure for G7
G7B6DBSE01CXCUSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
681,428,700,000.00
Year-over-Year Change
26.70%
Date Range
1/1/1999 - 10/1/2024
Summary
The 'Balance of Payments: Services: Expenditure for G7' metric tracks cross-border spending on services between the G7 countries. It's a key indicator of global 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
This economic series represents total expenditures on services between the seven largest advanced economies: the U.S., UK, Japan, Germany, France, Italy, and Canada. It provides insights into the scale and direction of international services trade.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and statistical models.
Historical Context
Policymakers and analysts use this metric to understand international trade dynamics and the broader state of the global economy.
Key Facts
- The G7 countries account for over 30% of global GDP.
- Services trade has grown faster than goods trade in recent decades.
- The U.S. is the world's largest services exporter.
FAQs
Q: What does this economic trend measure?
A: This metric tracks total expenditures on services trade between the G7 countries, which include the U.S., UK, Japan, Germany, France, Italy, and Canada.
Q: Why is this trend relevant for users or analysts?
A: The G7 services expenditure data provides insights into the scale and direction of international trade in services, which is an increasingly important component of the global economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and statistical models.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to understand international trade dynamics and the broader state of the global economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month lag.
Related Trends
Infra-Annual Labor Statistics: Monthly Unemployment Male: 15 Years or over for G7
G7LFHUTTMASTQ
Infra-Annual Labor Statistics: Employment Rate Female: From 15 to 64 Years for G7
G7LREM64FESTSAQ
Infra-Annual Labor Statistics: Unemployment Female: From 25 to 54 Years for G7
G7LFUN25FESTQ
Balance of Payments: Direct Investment: Liabilities (or Net Incurrence of Liabilities) for G7
G7B6FADI03CXCUQ
Balance of Payments: Portfolio Investment: Liabilities (or Net Incurrence of Liabilities) for G7
G7B6FAPI03CXCUQ
Infra-Annual Labor Statistics: Unemployment Total: From 55 to 64 Years for G7
G7LFUN55TTSTSAQ
Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for G7 (G7B6DBSE01CXCUSAQ), retrieved from FRED.