Balance of Payments: Goods: Expenditure for G7
G7B6DBTD01CXCUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,995,548,000,000.00
Year-over-Year Change
2.04%
Date Range
1/1/1999 - 10/1/2024
Summary
The Balance of Payments: Goods: Expenditure for G7 tracks the total value of expenditures on goods traded between the G7 nations. This metric is a key indicator of international trade and economic interdependence among the world's largest 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
The Balance of Payments: Goods: Expenditure for G7 measures the total value of goods transactions between the G7 countries, which include the United States, Japan, Germany, United Kingdom, France, Italy, and Canada. This statistic provides insight into the trade flows and economic integration within this group of major developed economies.
Methodology
The data is collected by national statistical agencies and compiled by the U.S. Federal Reserve.
Historical Context
Policymakers and economists closely monitor this indicator to assess the strength of global trade relationships and the potential impacts on national economies.
Key Facts
- The G7 nations account for over 30% of global GDP.
- Goods trade among the G7 countries totaled over $6 trillion in 2021.
- The United States is the largest trading partner for most other G7 economies.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Goods: Expenditure for G7 tracks the total value of goods traded between the seven largest advanced economies: the United States, Japan, Germany, United Kingdom, France, Italy, and Canada.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength of economic integration and trade relationships among the world's major developed nations, which is crucial for policymakers and analysts assessing the global economic landscape.
Q: How is this data collected or calculated?
A: The data is collected by national statistical agencies and compiled by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Governments and central banks monitor this indicator to understand the dynamics of international trade and the potential impacts on their domestic economies, informing policy decisions related to trade agreements, tariffs, and exchange rates.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, as the information is compiled from multiple national sources. Additionally, the indicator only reflects goods trade and does not include services trade between the G7 countries.
Related Trends
Infra-Annual Labor Statistics: Unemployment Male: From 55 to 64 Years for G7
G7LFUN55MASTQ
Infra-Annual Labor Statistics: Monthly Unemployment Rate Male: 25 Years or over for G7
G7LRHUADMASTSAM
Balance of Payments: Other Investment: Net (Assets Minus Liabilities) for G7
G7B6FAOI01CXCUQ
Infra-Annual Labor Statistics: Employment: Economic Activity: Industry (Including Construction): Total for G7
G7LFEAICTTSTSAQ
Infra-Annual Labor Statistics: Employees Total for G7
G7LFESEETTSTSAQ
Infra-Annual Labor Statistics: Persons Outside the Labor Force Total: 15 Years or over for G7
G7LFINTTTTSTQ
Citation
U.S. Federal Reserve, Balance of Payments: Goods: Expenditure for G7 (G7B6DBTD01CXCUQ), retrieved from FRED.