Balance on goods
IEABCG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-465,962.00
Year-over-Year Change
41.38%
Date Range
1/1/1999 - 1/1/2025
Summary
The Balance on Goods measures the difference between a country's exports and imports of physical goods, providing insight into a nation's trade 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 on Goods represents the trade balance for physical merchandise, excluding services. It is a key economic indicator used to evaluate a country's overall trade competitiveness and the strength of its manufacturing and exporting sectors.
Methodology
The data is collected by national statistical agencies and compiled by international organizations like the World Bank.
Historical Context
Policymakers closely monitor the Balance on Goods to assess trade policy impacts and overall economic performance.
Key Facts
- The U.S. has run a persistent trade deficit in goods since the 1970s.
- China has been the largest source of the U.S. goods trade deficit in recent years.
- Services trade tends to run a surplus, partially offsetting the goods trade deficit.
FAQs
Q: What does the Balance on Goods measure?
A: The Balance on Goods tracks the difference between a country's exports and imports of physical merchandise, excluding services trade.
Q: Why is the Balance on Goods relevant for economists and policymakers?
A: The Balance on Goods is a key indicator of a country's trade competitiveness and the health of its manufacturing and exporting sectors, which informs economic policy decisions.
Q: How is the Balance on Goods data collected and calculated?
A: The data is compiled by national statistical agencies and international organizations based on customs records of physical goods trade flows.
Q: How is the Balance on Goods used in economic policy?
A: Policymakers monitor the Balance on Goods to assess the impacts of trade policies and overall economic performance, informing decisions on tariffs, exchange rates, and other trade-related policies.
Q: Are there any limitations or delays in the Balance on Goods data?
A: There can be lags of several months in the reporting of the Balance on Goods data, and the figures may be subject to revisions as more complete information becomes available.
Related Trends
Citation
U.S. Federal Reserve, Balance on Goods (IEABCG), retrieved from FRED.