Balance of Payments: Services: Revenue for Luxembourg
LUXB6CRSE03STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82.95
Year-over-Year Change
-3.06%
Date Range
1/1/1995 - 10/1/2024
Summary
The Balance of Payments: Services: Revenue for Luxembourg measures the revenue generated from cross-border trade in services for the Luxembourg economy. This trend is a key indicator of the country's international economic competitiveness and ability to generate income from global service activities.
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 Luxembourg tracks the total value of services exported by Luxembourg-based companies and individuals to foreign buyers. This includes a wide range of professional, financial, and technical services that contribute to Luxembourg's role as a major global financial center.
Methodology
The data is collected through surveys of businesses and individuals conducted by the Luxembourg Central Bank.
Historical Context
Policy makers and analysts use this trend to assess Luxembourg's trade position and the health of its service-oriented economy.
Key Facts
- Luxembourg is a major global exporter of financial and professional services.
- Services account for over 80% of Luxembourg's GDP.
- The Balance of Payments: Services trend hit a record high in 2021.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Services: Revenue for Luxembourg measures the total value of services exported by Luxembourg-based companies and individuals to foreign buyers.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of Luxembourg's international economic competitiveness and ability to generate income from global service activities, which are crucial to the country's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and individuals conducted by the Luxembourg Central Bank.
Q: How is this trend used in economic policy?
A: Policy makers and analysts use this trend to assess Luxembourg's trade position and the health of its service-oriented economy, which informs economic and trade policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Luxembourg Central Bank with a typical 3-month lag.
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Revenue for Luxembourg (LUXB6CRSE03STSAQ), retrieved from FRED.