Balance of Payments: Services: Expenditure for Russia
RUSB6DBSE01CXCUSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,910,000,000.00
Year-over-Year Change
-8.13%
Date Range
1/1/1994 - 10/1/2024
Summary
The 'Balance of Payments: Services: Expenditure for Russia' trend measures cross-border transactions related to services trade between Russia and other countries. It is a key indicator of Russia's international economic integration 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
This economic indicator tracks Russia's expenditure on services imports, including categories like travel, transportation, and intellectual property. It provides insight into Russia's service trade balance and broader participation in the global economy.
Methodology
The data is collected and reported by the Central Bank of Russia as part of the country's balance of payments statistics.
Historical Context
This trend is used by economists, policymakers, and investors to assess Russia's trade dynamics and the competitiveness of its service industries.
Key Facts
- Russia's services expenditure peaked at $74.7 billion in 2013.
- Services trade accounts for over 20% of Russia's total trade balance.
- Transportation and travel services make up the largest components of Russia's services imports.
FAQs
Q: What does this economic trend measure?
A: This trend measures Russia's expenditure on services imports, including categories like travel, transportation, and intellectual property. It provides insight into Russia's service trade balance and broader participation in the global economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of Russia's international economic integration and competitiveness. It is used by economists, policymakers, and investors to assess Russia's trade dynamics and the performance of its service industries.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Russia as part of the country's balance of payments statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and investors to analyze Russia's trade performance and competitiveness in the global services market. It informs assessments of Russia's economic integration and can guide policy decisions related to trade, investment, and competitiveness.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Central Bank of Russia, with a delay of approximately 3 months. There may be occasional revisions to historical data as reporting methods are refined.
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Russia (RUSB6DBSE01CXCUSAQ), retrieved from FRED.