Balance of Payments: Services: Revenue for OECD
OECDB6CRSE01CXCUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,588,186,000,000.00
Year-over-Year Change
24.25%
Date Range
1/1/2005 - 10/1/2024
Summary
The 'Balance of Payments: Services: Revenue for OECD' trend measures the total revenue from international trade in services for OECD countries. It serves as a key indicator of a nation's economic performance and global 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
This economic indicator tracks the value of services exports, including tourism, transportation, and business services, for the 38 member countries of the Organization for Economic Cooperation and Development (OECD). It provides insights into a country's ability to generate income from its participation in the global services trade.
Methodology
The data is collected and calculated by the OECD based on national balance of payments reports.
Historical Context
Policymakers and analysts use this trend to assess a country's trade position and competitiveness in the international services market.
Key Facts
- OECD countries account for over 70% of global services trade.
- Services exports generate more revenue than goods exports for many advanced economies.
- The United States is the world's largest exporter of services.
FAQs
Q: What does this economic trend measure?
A: The 'Balance of Payments: Services: Revenue for OECD' trend measures the total value of services exported by the 38 member countries of the OECD.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into a country's participation and competitiveness in the global services trade, which is an increasingly important component of economic activity.
Q: How is this data collected or calculated?
A: The data is collected by the OECD based on national balance of payments reports submitted by member countries.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess a country's trade position and competitiveness in the international services market, which can inform trade and economic policies.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay and may be subject to revisions as more complete information becomes available.
Related Trends
Labor Compensation: Earnings: Manufacturing: Hourly for OECD
OECDLCEAMN01GYSAQ
Sales: Retail Trade: Total
OECDSLRTTO01GPSAQ
Infra-Annual Labor Statistics: Monthly Unemployment Rate Total: 15 Years or over for OECD
OECDLRHUTTTTSTQ
Infra-Annual Labor Statistics: Monthly Unemployment Rate Female: 25 Years or over for OECD
OECDLRHUADFESTSAM
Infra-Annual Labor Statistics: Persons Outside the Labor Force Total: From 15 to 24 Years for OECD
OECDLFIN24TTSTQ
Infra-Annual Labor Statistics: Persons Outside the Labor Force Total: From 15 to 64 Years for OECD
OECDLFIN64TTSTQ
Citation
U.S. Federal Reserve, Balance of Payments: Services: Revenue for OECD (OECDB6CRSE01CXCUQ), retrieved from FRED.