Nominal External Balance of Goods and Services for Canada
NNXGSSAXDCCAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1,360.00
Year-over-Year Change
-118.49%
Date Range
1/1/1961 - 1/1/2025
Summary
The Nominal External Balance of Goods and Services for Canada measures the difference between Canada's exports and imports of goods and services. This metric is a key indicator of a country's trade position and competitiveness.
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 Nominal External Balance of Goods and Services for Canada represents the difference between the value of Canada's exported and imported goods and services. This trend is used by economists and policymakers to assess Canada's trade balance and international economic performance.
Methodology
The data is collected and calculated by Statistics Canada based on surveys of Canadian importers and exporters.
Historical Context
The trade balance is a focus of economic policy and can influence decisions around exchange rates, tariffs, and trade agreements.
Key Facts
- Canada had a trade surplus of $3.3 billion in 2021.
- Exports account for over 30% of Canada's GDP.
- The trade balance fluctuates based on global demand and commodity prices.
FAQs
Q: What does this economic trend measure?
A: The Nominal External Balance of Goods and Services for Canada measures the difference between the value of Canada's exported and imported goods and services.
Q: Why is this trend relevant for users or analysts?
A: The trade balance is a key indicator of a country's economic performance and competitiveness. It is closely watched by economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Statistics Canada based on surveys of Canadian importers and exporters.
Q: How is this trend used in economic policy?
A: The trade balance influences decisions around exchange rates, tariffs, and trade agreements, as policymakers seek to optimize a country's international economic position.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 2 months.
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Citation
U.S. Federal Reserve, Nominal External Balance of Goods and Services for Canada (NNXGSSAXDCCAQ), retrieved from FRED.