Balance of Payments: Services: Expenditure for Norway
NORB6DBSE03STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.72
Year-over-Year Change
18.73%
Date Range
1/1/2005 - 10/1/2024
Summary
The 'Balance of Payments: Services: Expenditure for Norway' trend measures Norway's spending on foreign services, which is an important component of its overall international trade and economic activity.
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 economic indicator tracks Norway's expenditure on services from other countries, such as tourism, transportation, and business services. It provides insight into Norway's international trade patterns and competitiveness within the global services market.
Methodology
The data is collected and calculated by Norway's national statistics agency based on surveys and administrative records.
Historical Context
Policymakers and analysts use this trend to understand Norway's trade balance and competitiveness in services exports.
Key Facts
- Norway is a major exporter of services globally.
- Services trade accounts for over 60% of Norway's total trade activity.
- Expenditure on foreign services has grown by over 50% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures Norway's expenditure on services imports, including tourism, transportation, and business services purchased from other countries.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into Norway's international trade patterns and competitiveness within the global services market, which is crucial for understanding its overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Norway's national statistics agency based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand Norway's trade balance and competitiveness in services exports, which informs trade and economic policies.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Norway (NORB6DBSE03STSAQ), retrieved from FRED.