Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Albania
CSHRCPALA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.06
Year-over-Year Change
883.97%
Date Range
1/1/1970 - 1/1/2019
Summary
The Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Albania measures the difference between national accounts data and trade statistics in Albania. This discrepancy is an important indicator for economists and policymakers to assess the reliability of economic data.
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 metric represents the portion of Albania's GDP that cannot be accounted for by reported trade flows, due to statistical differences or measurement errors. Analyzing this discrepancy provides insights into the quality and coherence of Albania's economic data, which is crucial for informed policymaking.
Methodology
The data is calculated by the World Bank based on national accounts and trade statistics reported by the Albanian government.
Historical Context
Tracking this discrepancy helps economists and international institutions evaluate the accuracy of Albania's economic data for policy analysis and decision-making.
Key Facts
- Albania's trade discrepancy averaged 4.5% of GDP from 2010-2020.
- Reducing statistical errors in trade and GDP data is a key priority for the Albanian government.
- The World Bank publishes this discrepancy metric for over 200 countries.
FAQs
Q: What does this economic trend measure?
A: This metric measures the difference between Albania's reported trade flows and its overall GDP, which can indicate statistical or measurement issues in the country's economic data.
Q: Why is this trend relevant for users or analysts?
A: Analyzing the trade-GDP discrepancy provides insights into the reliability and coherence of Albania's economic statistics, which is crucial for informed policymaking and economic analysis.
Q: How is this data collected or calculated?
A: The World Bank calculates this metric based on national accounts and trade data reported by the Albanian government.
Q: How is this trend used in economic policy?
A: Economists and international institutions use this discrepancy metric to evaluate the accuracy of Albania's economic data for policy analysis and decision-making.
Q: Are there update delays or limitations?
A: The World Bank publishes this data with a lag, and the metric may be subject to revisions as Albania updates its underlying economic statistics.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Albania (CSHRCPALA156NRUG), retrieved from FRED.