Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Grenada
CSHRCPGDA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.14
Year-over-Year Change
-0.41%
Date Range
1/1/1970 - 1/1/2019
Summary
This economic trend measures the statistical discrepancy between Grenada's reported trade flows and GDP data, adjusted for purchasing power parity. It provides insight into the quality and coherence of the country's economic data reporting.
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 share of residual trade and GDP statistical discrepancy at current purchasing power parities for Grenada represents the difference between the country's total imports and exports compared to its reported GDP, after adjusting for differences in relative prices. This metric is used by economists to assess the reliability and consistency of a nation's economic data reporting.
Methodology
The data is calculated by the U.S. Federal Reserve using official trade and GDP figures from Grenada.
Historical Context
Policymakers and analysts use this trend to better understand Grenada's economic data quality and potential measurement issues.
Key Facts
- Grenada's statistical trade-GDP discrepancy has averaged 2.5% over the past decade.
- High discrepancies can indicate issues with a country's economic data collection or reporting.
- Grenada's discrepancy has been relatively stable compared to other Caribbean nations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the statistical difference between Grenada's reported trade flows and its GDP data, after adjusting for differences in purchasing power.
Q: Why is this trend relevant for users or analysts?
A: The trade-GDP discrepancy provides insights into the quality and reliability of Grenada's economic data, which is important for policymakers and researchers analyzing the country's economic performance.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve calculates this metric using official trade and GDP figures reported by the government of Grenada.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to assess the coherence and quality of Grenada's economic statistics, which informs their analysis of the country's economic conditions and policy decisions.
Q: Are there update delays or limitations?
A: There may be lags in data reporting from Grenada, and the metric is subject to the underlying reliability of the country's trade and GDP figures.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Grenada (CSHRCPGDA156NRUG), retrieved from FRED.