Balance of Payments: Services: Expenditure for Spain
ESPB6DBSE01NCCUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,283,000,000.00
Year-over-Year Change
49.42%
Date Range
1/1/1993 - 10/1/2024
Summary
This trend measures Spain's service trade balance, or the difference between spending on services imports and exports. It is a key economic indicator used to assess a country's international competitiveness and external position.
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 Spain tracks the value of services trade, including tourism, transportation, financial services, and other business services. This metric provides insight into Spain's trade dynamics and overall economic performance relative to its global partners.
Methodology
The data is collected and calculated by Spain's national statistical agency using standard international accounting frameworks.
Historical Context
Policymakers and analysts closely monitor this indicator to gauge Spain's external performance and make informed decisions about fiscal, monetary, and trade policies.
Key Facts
- Spain is the world's second-largest tourism destination.
- Services account for over 60% of Spain's GDP.
- The services trade balance is a key component of Spain's current account.
FAQs
Q: What does this economic trend measure?
A: This trend measures Spain's service trade balance, which is the difference between spending on services imports and exports.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Spain's trade dynamics and overall economic performance relative to its global partners, making it a key indicator for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Spain's national statistical agency using standard international accounting frameworks.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this indicator to gauge Spain's external performance and make informed decisions about fiscal, monetary, and trade policies.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the national statistical agency, with minimal delays.
Related Trends
Total Credit to Households and Non-Profit Institutions Serving Households, Adjusted for Breaks, for Spain
CRDQESAHABIS
Harmonized Index of Consumer Prices: Food Products N.e.c. for Spain
CP0119ESM086NEST
Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Spain
ESPCPHP0200GPM
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Electricity, Gas and Other Fuels for Spain
ESPCP040500IXOBM
Balance of Payments: Reserve Assets: Assets (or Net Acquisition of Assets) for Spain
ESPB6FARA01NCCUQ
Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Spain
ESPCPHP1100IXEBM
Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Spain (ESPB6DBSE01NCCUQ), retrieved from FRED.