Balance of Payments: Services: Revenue for Ireland
IRLB6CRSE03STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.79
Year-over-Year Change
3.62%
Date Range
1/1/2002 - 10/1/2024
Summary
This trend measures the revenue from services trade for Ireland, a key component of the country's balance of payments. It provides insight into Ireland's international economic competitiveness and 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: Revenue for Ireland tracks the value of services exported by Irish companies and individuals to other countries. This data is used by economists and policymakers to assess Ireland's trade position, competitiveness, and role in the global economy.
Methodology
The data is collected through surveys of Irish businesses and individuals involved in international services trade.
Historical Context
Policymakers and analysts use this data to understand Ireland's economic performance and guide trade, investment, and regulatory decisions.
Key Facts
- Ireland is a major global services exporter.
- Services trade accounts for over 60% of Ireland's GDP.
- Revenue from services exports has grown rapidly in recent decades.
FAQs
Q: What does this economic trend measure?
A: This trend measures the revenue Ireland earns from exporting services to other countries, a key component of the country's balance of payments.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into Ireland's international economic competitiveness and integration, which is crucial for assessing the country's economic performance and guiding policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Irish businesses and individuals involved in international services trade.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to understand Ireland's economic performance and guide trade, investment, and regulatory decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and may have some limitations in capturing all international services trade activity.
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Revenue for Ireland (IRLB6CRSE03STSAQ), retrieved from FRED.