Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Ghana
CSHRCPGHA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.14
Year-over-Year Change
334.15%
Date Range
1/1/1955 - 1/1/2019
Summary
This trend measures the share of the statistical discrepancy between Ghana's trade and GDP data, adjusted for purchasing power parity. It provides insight into data quality and national accounts 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 is an indicator of how well Ghana's trade and production data align. It highlights inconsistencies in economic reporting that can inform analysis and policymaking.
Methodology
The data is calculated by the World Bank using official trade and GDP statistics reported by the Ghanaian government.
Historical Context
This metric is used by economists and policymakers to assess the reliability of Ghana's economic data and monitor data quality over time.
Key Facts
- Ghana's trade and GDP data have a statistical discrepancy.
- The discrepancy share has fluctuated between 5-15% in recent years.
- Data quality is a concern for economic policymaking in Ghana.
FAQs
Q: What does this economic trend measure?
A: This metric measures the share of the statistical discrepancy between Ghana's reported trade and GDP data, after adjusting for purchasing power parity.
Q: Why is this trend relevant for users or analysts?
A: The share of the trade-GDP discrepancy provides insight into the quality and reliability of Ghana's economic data, which is crucial for accurate analysis and policymaking.
Q: How is this data collected or calculated?
A: The World Bank calculates this metric using official trade and GDP statistics reported by the Ghanaian government.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the quality of Ghana's economic data and monitor data reporting over time, which informs decision-making.
Q: Are there update delays or limitations?
A: The data may have a lag of several months due to the time required for the Ghanaian government to report and the World Bank to process the information.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Ghana (CSHRCPGHA156NRUG), retrieved from FRED.