Balance of Payments: Current account balance (credit less debit) for St. Vincent and the Grenadines
SVGBCAGDPBP6 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-8.89
Year-over-Year Change
-13.73%
Date Range
1/1/2014 - 1/1/2030
Summary
The 'Balance of Payments: Current account balance (credit less debit) for St. Vincent and the Grenadines' measures the difference between the country's total exports and imports of goods, services, and capital. This metric is crucial for economists and policymakers to understand a nation's international economic position.
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 current account balance is a key component of a country's balance of payments, reflecting its net trade in goods, services, and investments. A positive current account surplus indicates the country is a net lender to the rest of the world, while a deficit signals it is a net borrower.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on reports from the Central Bank of St. Vincent and the Grenadines.
Historical Context
Monitoring the current account balance helps policymakers evaluate a country's international competitiveness and make informed decisions about trade, exchange rate, and fiscal policies.
Key Facts
- St. Vincent and the Grenadines had a current account deficit of 24.2% of GDP in 2021.
- The country's current account has been in deficit for the past decade.
- Tourism is a major contributor to St. Vincent and the Grenadines' current account.
FAQs
Q: What does this economic trend measure?
A: The 'Balance of Payments: Current account balance (credit less debit) for St. Vincent and the Grenadines' measures the difference between the country's total exports and imports of goods, services, and capital.
Q: Why is this trend relevant for users or analysts?
A: Monitoring the current account balance is crucial for economists and policymakers to understand a nation's international economic position and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on reports from the Central Bank of St. Vincent and the Grenadines.
Q: How is this trend used in economic policy?
A: Tracking the current account balance helps policymakers evaluate a country's international competitiveness and make informed decisions about trade, exchange rate, and fiscal policies.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedule and methodological updates of the Central Bank of St. Vincent and the Grenadines.
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Citation
U.S. Federal Reserve, Balance of Payments: Current account balance (credit less debit) for St. Vincent and the Grenadines (SVGBCAGDPBP6), retrieved from FRED.