Nominal External Balance of Goods and Services for Russia
NNXGSXDCRUA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,699,935.40
Year-over-Year Change
91.72%
Date Range
1/1/2006 - 1/1/2024
Summary
The Nominal External Balance of Goods and Services for Russia measures the difference between Russia's exports and imports of goods and services. It is a key indicator of Russia's international trade position and economic performance.
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 Russia's net exports, capturing the balance between its total exports and imports of physical goods as well as intangible services. It is a fundamental macroeconomic indicator used by policymakers and analysts to assess Russia's trade dynamics and broader economic health.
Methodology
The data is collected and calculated by the Central Bank of Russia based on balance of payments reporting.
Historical Context
The nominal trade balance is closely watched by Russian authorities and international institutions for insights into the country's external sector and competitiveness.
Key Facts
- Russia has run a consistent trade surplus since the early 2000s.
- Energy exports are a major driver of Russia's trade balance.
- The trade balance can fluctuate due to global commodity price changes.
FAQs
Q: What does this economic trend measure?
A: The Nominal External Balance of Goods and Services for Russia measures the difference between the country's total exports and imports of physical goods and services.
Q: Why is this trend relevant for users or analysts?
A: This trade balance indicator provides insight into Russia's international competitiveness, macroeconomic performance, and positioning within the global economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Russia based on balance of payments reporting.
Q: How is this trend used in economic policy?
A: The nominal trade balance is closely watched by Russian authorities and international institutions for insights into the country's external sector and competitiveness.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the measure can be affected by global commodity price fluctuations.
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Citation
U.S. Federal Reserve, Nominal External Balance of Goods and Services for Russia (NNXGSXDCRUA), retrieved from FRED.