Balance of Payments: Goods: Balance (Revenue Minus Expenditure) for G7
G7B6BLTD01CXCUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-351,071,300,000.00
Year-over-Year Change
9.22%
Date Range
1/1/1999 - 10/1/2024
Summary
The Balance of Payments: Goods: Balance (Revenue Minus Expenditure) for G7 measures the difference between total exports and imports of goods for the Group of Seven (G7) major advanced economies.
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 the trade balance in goods for the G7 countries, providing insight into their overall trade position and competitiveness. It is a key metric used by economists and policymakers to analyze international trade flows and macroeconomic conditions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on international trade statistics.
Historical Context
The goods trade balance is an important factor in assessing exchange rate movements, current account balances, and the impact of trade policies.
Key Facts
- The G7 consists of the U.S., Canada, the U.K., France, Germany, Italy, and Japan.
- The goods trade balance is the difference between a country's exports and imports of physical goods.
- Trade surpluses or deficits can have significant implications for exchange rates and capital flows.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Goods: Balance (Revenue Minus Expenditure) for G7 measures the overall trade balance in goods for the Group of Seven major advanced economies.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the trade competitiveness and macroeconomic conditions of the world's largest developed economies, which is crucial information for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on international trade statistics.
Q: How is this trend used in economic policy?
A: Governments and central banks monitor the goods trade balance to assess exchange rate movements, current account positions, and the impacts of trade policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 2-3 months, so it may not reflect the most recent trade conditions.
Related Trends
International Merchandise Trade Statistics: Exports: Commodities for G7
G7XTEXVA01CXMLSAM
Balance of Payments: Direct Investment: Net (Assets Minus Liabilities) for G7
G7B6FADI01CXCUQ
Infra-Annual Labor Statistics: Labor Force Total: From 25 to 54 Years for G7
G7LFAC25TTSTQ
Balance of Payments: Financial Account: Net (Assets Minus Liabilities) for G7
G7B6FATT01CXCUQ
Infra-Annual Labor Statistics: Employment Rate Total: From 15 to 64 Years for G7
G7LREM64TTSTQ
International Trade: Imports: Value (goods): Total for G7
G7XTIMVA01STSAQ
Citation
U.S. Federal Reserve, Balance of Payments: Goods: Balance (Revenue Minus Expenditure) for G7 (G7B6BLTD01CXCUQ), retrieved from FRED.