Nominal Exports of Services for Russia
NXSNSAXDCRUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
770,483.90
Year-over-Year Change
-24.19%
Date Range
1/1/2011 - 10/1/2022
Summary
The 'Nominal Exports of Services for Russia' trend measures the monetary value of services exported from Russia to other countries. This indicator provides insight into Russia's international trade in services and is a key statistic for economists and policymakers monitoring the country's 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
The 'Nominal Exports of Services for Russia' data series tracks the dollar value of services Russia exports to other nations, such as tourism, transportation, and financial services. This metric is used to assess Russia's position in global services trade and can signal changes in the competitiveness of its service sector.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on official Russian government statistics.
Historical Context
Policymakers and analysts use this trend to evaluate Russia's trade balance, competitiveness, and integration in the global services economy.
Key Facts
- Russia's nominal services exports were $58.5 billion in 2021.
- Services account for over 60% of Russia's total exports.
- Tourism and transportation are Russia's largest service exports.
FAQs
Q: What does this economic trend measure?
A: The 'Nominal Exports of Services for Russia' metric tracks the monetary value of services exported from Russia to other countries, providing insight into Russia's international trade in services.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for evaluating Russia's position in global services trade, competitiveness of its service sector, and overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on official Russian government statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess Russia's trade balance, competitiveness, and integration in the global services economy.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may be subject to revisions based on updated information from the Russian government.
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Citation
U.S. Federal Reserve, Nominal Exports of Services for Russia (NXSNSAXDCRUQ), retrieved from FRED.