Nominal External Balance of Goods and Services for Saudi Arabia
NNXGSNSAXDCSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,310.00
Year-over-Year Change
-72.83%
Date Range
1/1/2005 - 1/1/2025
Summary
The Nominal External Balance of Goods and Services for Saudi Arabia measures the country's net exports, a key indicator of its trade performance and global economic integration.
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 represents the difference between Saudi Arabia's total exports and total imports of goods and services, expressed in nominal (unadjusted for inflation) terms. It provides insight into the nation's trade position and ability to generate foreign currency earnings.
Methodology
The data is collected and calculated by the International Monetary Fund (IMF) based on official government trade statistics.
Historical Context
Policymakers and analysts use this metric to assess Saudi Arabia's trade dynamics and external competitiveness.
Key Facts
- Saudi Arabia is the world's largest exporter of crude oil.
- The country's trade surplus peaked at over $250 billion in 2012.
- Services trade, including tourism, has become an increasingly important component of Saudi Arabia's external accounts.
FAQs
Q: What does this economic trend measure?
A: This metric measures the difference between Saudi Arabia's total exports and total imports of goods and services, providing insight into the country's trade position and external competitiveness.
Q: Why is this trend relevant for users or analysts?
A: The Nominal External Balance of Goods and Services is a key indicator of Saudi Arabia's trade performance and global economic integration, which is crucial for policymakers and analysts assessing the country's macroeconomic and external stability.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the International Monetary Fund (IMF) based on official government trade statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Saudi Arabia's trade dynamics, external competitiveness, and the effectiveness of policies aimed at promoting exports, managing imports, and maintaining a healthy current account balance.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions as more complete information becomes available.
Related Trends
Value of Exports to Saudi Arabia from Utah
UTSAUA052SCEN
Bank's Overhead Costs to Total Assets for Saudi Arabia
DDEI04SAA156NWDB
Balance of Payments: Services: Expenditure for Saudi Arabia
SAUB6DBSE02STSAQ
Loans from Non-Resident Banks, Net, to GDP for Saudi Arabia
DDOI08SAA156NWDB
Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Saudi Arabia
SAUFCDODCANUM
Real Private Sector Final Consumption Expenditure for Saudi Arabia
NCPRNSAXDCSAQ
Citation
U.S. Federal Reserve, Nominal External Balance of Goods and Services for Saudi Arabia (NNXGSNSAXDCSAQ), retrieved from FRED.