Balance of Payments: Services: Expenditure for Finland
FINB6DBSE02STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.40
Year-over-Year Change
18.44%
Date Range
1/1/1999 - 10/1/2024
Summary
The Balance of Payments: Services: Expenditure for Finland tracks the money spent by Finnish residents on services purchased from the rest of the world. This indicator provides insight into Finland's international trade and service sector performance.
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 series measures Finland's service trade balance, specifically the expenditure on services by Finnish residents abroad. It is an important component of Finland's overall balance of payments and can signal shifts in consumer demand, tourism, and Finland's competitiveness in the global services market.
Methodology
The data is collected by Statistics Finland through surveys of Finnish households and businesses.
Historical Context
Policymakers and analysts use this metric to assess Finland's economic openness, competitiveness, and broader integration with the global economy.
Key Facts
- Finland is a highly open, trade-dependent economy.
- Services account for over 60% of Finland's GDP.
- Finland has a services trade surplus overall.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the expenditure by Finnish residents on services purchased from the rest of the world, which is a key component of Finland's balance of payments.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into Finland's international trade in services, consumer demand, and competitiveness, which are important for assessing the country's economic openness and integration with the global economy.
Q: How is this data collected or calculated?
A: The data is collected by Statistics Finland through surveys of Finnish households and businesses.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Finland's services trade balance, consumer demand patterns, and overall economic competitiveness and integration with global markets.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions over time.
Related Trends
International Trade: Imports: Value (Goods): Total for Finland
XTIMVA01FIQ188S
Interest Rates: Immediate Rates (< 24 Hours): Call Money/Interbank Rate: Total for Finland
IRSTCI01FIQ156N
Infra-Annual Labor Statistics: Employment Total: From 15 to 24 Years for Finland
LFEM24TTFIA647N
Leading Indicators OECD: Component series: BTS - Production: Original series for Finland
FINLOCOBPORSTSAM
Balance of Payments: Financial Account: Net (Assets Minus Liabilities) for Finland
FINB6FATT01NCCUQ
Use of Financial Services, Assets: Outstanding Loans to Households at Commercial Banks for Finland
FINFCSODCHXDC
Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Finland (FINB6DBSE02STSAQ), retrieved from FRED.