Balance on goods and services
IEABCGSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-903,532.00
Year-over-Year Change
71.80%
Date Range
1/1/1999 - 1/1/2024
Summary
The Balance on Goods and Services measures the difference between a country's exports and imports of goods and services. It's a key indicator of a country's trade position and international 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
The Balance on Goods and Services tracks the net flow of physical goods and intangible services between a country and its international trading partners. It's a core component of the broader Current Account, providing insight into a nation's international economic transactions.
Methodology
This data is compiled by the U.S. Bureau of Economic Analysis using surveys and administrative records.
Historical Context
Policymakers and analysts closely monitor the Balance on Goods and Services to assess economic performance and inform decisions around trade, exchange rates, and other macroeconomic policies.
Key Facts
- The U.S. has run a trade deficit for decades.
- China is the largest U.S. trading partner by volume.
- Services trade surplus offsets a portion of the goods trade deficit.
FAQs
Q: What does this economic trend measure?
A: The Balance on Goods and Services tracks the difference between a country's exports and imports of physical goods and intangible services.
Q: Why is this trend relevant for users or analysts?
A: The Balance on Goods and Services is a key indicator of a country's trade position and international competitiveness, providing insight into its economic performance and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is compiled by the U.S. Bureau of Economic Analysis using surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor the Balance on Goods and Services to assess economic performance and inform decisions around trade, exchange rates, and other macroeconomic policies.
Q: Are there update delays or limitations?
A: The Balance on Goods and Services data is published monthly with a typical release lag of 2-3 weeks.
Related Trends
Citation
U.S. Federal Reserve, Balance on goods and services (IEABCGSA), retrieved from FRED.