Balance of Payments: Services: Expenditure for Russia
RUSB6DBSE02STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.41
Year-over-Year Change
13.17%
Date Range
1/1/1994 - 10/1/2024
Summary
The 'Balance of Payments: Services: Expenditure for Russia' trend measures Russia's spending on international services, providing insights into its trade in services with other countries.
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
This economic indicator tracks Russia's expenditures on services imports, including travel, transportation, and other business-related services. It is a key component of Russia's overall balance of payments, which economists analyze to understand the country's international economic position and competitiveness.
Methodology
The data is collected and calculated by the Central Bank of Russia based on balance of payments accounting principles.
Historical Context
This services expenditure trend is used by policymakers, analysts, and investors to monitor Russia's trade dynamics and assess its economic relationships with trading partners.
Key Facts
- Russia's services expenditure reached a high of $69.4 billion in 2019.
- Services trade accounts for over 20% of Russia's total international trade.
- Transportation and travel services are the largest components of Russia's services imports.
FAQs
Q: What does this economic trend measure?
A: This trend measures Russia's expenditures on services imports, including travel, transportation, and other business-related services.
Q: Why is this trend relevant for users or analysts?
A: This services expenditure trend provides insights into Russia's trade in services with other countries, which is a key component of its overall balance of payments and economic competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Russia based on balance of payments accounting principles.
Q: How is this trend used in economic policy?
A: This services expenditure trend is used by policymakers, analysts, and investors to monitor Russia's trade dynamics and assess its economic relationships with trading partners.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Russia (RUSB6DBSE02STSAQ), retrieved from FRED.