Nominal Imports of Services for Canada
NMSNSAXDCCAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57,829.00
Year-over-Year Change
30.25%
Date Range
1/1/1961 - 1/1/2025
Summary
The Nominal Imports of Services for Canada measures the total value of services imported into Canada. This metric is crucial for understanding Canada's international trade and 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 Nominal Imports of Services for Canada represents the monetary value of services purchased by Canadian entities from foreign providers. This includes a wide range of professional, financial, and transportation services that are essential for the Canadian economy.
Methodology
The data is collected by Statistics Canada through surveys of Canadian businesses and individuals.
Historical Context
Policymakers and analysts use this metric to assess Canada's participation in global services trade and the competitiveness of its service sectors.
Key Facts
- Canada is the world's 9th largest services importer.
- Services account for over 60% of Canada's GDP.
- The US is Canada's largest services trade partner.
FAQs
Q: What does this economic trend measure?
A: The Nominal Imports of Services for Canada measures the total monetary value of services purchased by Canadian entities from foreign providers.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding Canada's participation in global services trade and the competitiveness of its service sectors, which are essential for the Canadian economy.
Q: How is this data collected or calculated?
A: The data is collected by Statistics Canada through surveys of Canadian businesses and individuals.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Canada's international trade in services and inform policies that support the competitiveness of the Canadian services economy.
Q: Are there update delays or limitations?
A: The data is published quarterly by Statistics Canada, with a typical delay of 2-3 months.
Related Trends
Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Canada
LCEAMN01CAA661N
Gross Portfolio Debt Liabilities to GDP for Canada
DDDM10CAA156NWDB
Infra-Annual Labor Statistics: Monthly Unemployment Rate Male: From 15 to 24 Years for Canada
LRHU24MACAM156N
Nominal Imports of Goods and Services for Canada
NMSAXDCCAQ
Infra-Annual Labor Statistics: Monthly Unemployment Male: From 15 to 24 Years for Canada
LFHU24MACAM647N
Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Canada
CANCP050000IXNBQ
Citation
U.S. Federal Reserve, Nominal Imports of Services for Canada (NMSNSAXDCCAQ), retrieved from FRED.