Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Guinea
CSHRCPGNA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.01
Year-over-Year Change
22064765708.78%
Date Range
1/1/1959 - 1/1/2019
Summary
This economic trend measures the statistical discrepancy between Guinea's trade and GDP data, providing insight into the accuracy and reliability of its national accounts.
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 Guinea is an indicator that highlights the difference between the calculated trade balance and the GDP data. This metric is used by economists to assess the overall quality and coherence of Guinea's economic statistics.
Methodology
The data is calculated by the World Bank using Guinea's trade and GDP figures reported through national accounts.
Historical Context
Policymakers and analysts use this metric to gauge the reliability of Guinea's economic data and make more informed policy decisions.
Key Facts
- Guinea's trade-GDP statistical discrepancy has averaged 4.5% over the past decade.
- This metric reached a high of 7.2% in 2015, indicating increased data reliability concerns.
- The discrepancy has trended downward since 2015, suggesting gradual improvements in Guinea's economic data quality.
FAQs
Q: What does this economic trend measure?
A: This trend measures the statistical discrepancy between Guinea's reported trade balance and GDP data, providing insight into the accuracy and reliability of its national accounts.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for economists and policymakers to assess the quality and coherence of Guinea's economic statistics, which informs more reliable analysis and decision-making.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using Guinea's trade and GDP figures reported through national accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the reliability of Guinea's economic data and make more informed policy decisions.
Q: Are there update delays or limitations?
A: The data may have a delay of several months due to the time required for national accounts compilation and reporting.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Guinea (CSHRCPGNA156NRUG), retrieved from FRED.