Balance of Payments: Services: Expenditure for Ireland
IRLB6DBSE02STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.34
Year-over-Year Change
-14.80%
Date Range
1/1/2002 - 10/1/2024
Summary
The Balance of Payments: Services: Expenditure for Ireland measures Ireland's spending on services from other countries. This metric is important for understanding Ireland's international trade and economic relationships.
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: Expenditure for Ireland represents the value of services imported by Ireland, such as travel, transportation, and business services. This data is used by economists and policymakers to analyze Ireland's trade balance and competitiveness in the global services market.
Methodology
The data is collected and calculated by the Central Statistics Office of Ireland.
Historical Context
Trends in this metric can inform economic and trade policy decisions in Ireland.
Key Facts
- Ireland is a major services exporter globally.
- Services trade accounts for over 60% of Ireland's GDP.
- Services imports have grown steadily in Ireland over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Services: Expenditure for Ireland measures the value of services imported by Ireland from other countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding Ireland's international trade and competitiveness in the global services market.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Statistics Office of Ireland.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform economic and trade policy decisions in Ireland.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 3-month lag.
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Ireland (IRLB6DBSE02STSAQ), retrieved from FRED.