Balance of Payments: Services: Revenue for G7
G7B6CRSE02STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.29
Year-over-Year Change
8.86%
Date Range
1/1/1999 - 10/1/2024
Summary
The Balance of Payments: Services: Revenue for G7 measures the revenue from international trade in services for the G7 economies. This data provides insights into the global competitiveness and trade positions of 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 total value of services exports, including travel, transportation, and other commercial services, for the G7 countries: the United States, Japan, Germany, the United Kingdom, France, Italy, and Canada. It is a key metric for analyzing the service trade balance and international competitiveness of these leading economies.
Methodology
The data is collected and reported by national statistical agencies and compiled by the International Monetary Fund.
Historical Context
This metric is widely used by policymakers, economists, and investors to assess global trade patterns and the relative strength of national service industries.
Key Facts
- The G7 economies account for over 60% of global GDP.
- Services exports make up approximately 60% of total G7 exports.
- The United States is the world's largest exporter of services.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Services: Revenue for G7 measures the total value of services exports, including travel, transportation, and other commercial services, for the G7 countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the global competitiveness and trade positions of major advanced economies, which is crucial information for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected and reported by national statistical agencies and compiled by the International Monetary Fund.
Q: How is this trend used in economic policy?
A: This metric is widely used to assess global trade patterns and the relative strength of national service industries, informing policymaking and investment decisions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a short delay, providing timely insights into the evolving trade landscape.
Related Trends
Infra-Annual Labor Statistics: Persons Outside the Labor Force Female: From 25 to 54 Years for G7
G7LFIN25FESTQ
Infra-Annual Labor Statistics: Employment Female: From 55 to 64 Years for G7
G7LFEM55FEGPSAQ
Infra-Annual Labor Statistics: Employment: Economic Activity: Manufacturing: Total for G7
G7LFEAMNTTSTSAQ
Infra-Annual Labor Statistics: Labor Force Female: From 25 to 54 Years for G7
G7LFAC25FESTSAQ
Consumer Price Index: All items: Total: Total for G7
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Infra-Annual Labor Statistics: Labor Force Total: From 15 to 64 Years for G7
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Revenue for G7 (G7B6CRSE02STSAQ), retrieved from FRED.