Balance of Payments: Services: Expenditure for Russia
RUSB6DBSE03STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
85.93
Year-over-Year Change
21.19%
Date Range
1/1/1994 - 10/1/2024
Summary
The 'Balance of Payments: Services: Expenditure for Russia' trend measures Russian spending on international services, a key component of the country's overall balance of payments. This metric is closely watched by economists to assess Russia's 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 series tracks Russia's expenditure on services imports, such as travel, transportation, and business services. It provides insight into the Russian economy's engagement with global markets and is used to calculate the services component of Russia's overall balance of payments.
Methodology
The data is collected and reported by the Central Bank of Russia.
Historical Context
Policymakers and analysts monitor this trend to understand Russia's international economic position and trade dynamics.
Key Facts
- Russia's services expenditure reached a high of $71.7 billion in 2013.
- Services imports account for approximately 25% of Russia's total balance of payments.
- The COVID-19 pandemic led to a significant decline in Russia's services expenditure in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures Russia's expenditure on imported services, including travel, transportation, and business services. It is a key component of Russia's overall balance of payments.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Russia's economic integration and competitiveness in global services markets, which is important for understanding the country's overall trade dynamics and international economic position.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Russia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess Russia's international economic position and make informed decisions about trade policies and economic strategies.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedule and potential revisions by the Central Bank of Russia.
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Citation
U.S. Federal Reserve, Balance of Payments: Services: Expenditure for Russia (RUSB6DBSE03STSAQ), retrieved from FRED.