Balance of Payments: Services: Expenditure for Sweden
SWEB6DBSE01CXCUSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,323,760,000.00
Year-over-Year Change
25.30%
Date Range
1/1/1982 - 10/1/2024
Summary
The Balance of Payments: Services: Expenditure for Sweden measures the value of services purchased by Swedish residents from non-residents. This economic indicator provides insights into Sweden's international trade in services.
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 Sweden tracks the value of services, such as travel, transportation, and professional services, that Swedish consumers and businesses purchase from foreign providers. This metric is a key component of Sweden's overall balance of payments and offers insights into the country's international trade position.
Methodology
The data is collected through surveys of Swedish households and businesses.
Historical Context
Policymakers and analysts use this indicator to assess Sweden's international competitiveness and the impact of economic factors on the country's service trade balance.
Key Facts
- Sweden's services expenditure reached a record high of $61.4 billion in 2021.
- Travel and transportation services account for the largest share of Sweden's services expenditure.
- The COVID-19 pandemic caused a significant decline in Sweden's services expenditure in 2020.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Services: Expenditure for Sweden measures the value of services purchased by Swedish residents from non-residents, providing insights into the country's international trade in services.
Q: Why is this trend relevant for users or analysts?
A: This indicator offers insights into Sweden's international competitiveness and the impact of economic factors on the country's service trade balance, which is useful for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Swedish households and businesses.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess Sweden's international competitiveness and the impact of economic factors on the country's service trade balance.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates, and there may be some limitations in capturing all international service transactions.
Related Trends
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CP0000SEM086NEST
Infra-Annual Labor Statistics: Employment Rate Male: From 15 to 24 Years for Sweden
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Amount Outstanding of Domestic Money Market instruments in Financial Corporations Sector, Short-Term at Original Maturity, Residence of Issuer in Sweden
DMMISTRIAOFCSE
Infra-Annual Labor Statistics: Working-Age Population Total: From 15 to 64 Years for Sweden
LFWA64TTSEQ647S
Consumer Price Index for Sweden
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Infra-Annual Labor Statistics: Monthly Unemployment Rate Female: 15 Years or over for Sweden
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Sweden (SWEB6DBSE01CXCUSAQ), retrieved from FRED.