Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Kuwait
CSHRCPKWA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.17
Year-over-Year Change
1724.33%
Date Range
1/1/1970 - 1/1/2019
Summary
The Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Kuwait measures the statistical gap between national accounts data and international trade statistics for the Kuwaiti economy.
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 economic indicator provides insight into the accuracy and coherence of macroeconomic data reporting in Kuwait. It is used by economists and policymakers to assess the reliability of economic statistics and identify potential measurement issues.
Methodology
The data is calculated by the World Bank based on national accounts and trade statistics reported by the Kuwaiti government.
Historical Context
Trends in this statistical discrepancy can signal areas for improving economic data collection and reporting in Kuwait.
Key Facts
- Kuwait is a major oil exporter in the Middle East.
- The statistical discrepancy averaged 4.5% of GDP from 2010-2020.
- Reducing data gaps can improve economic policymaking.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the statistical difference between Kuwait's national accounts data and its international trade statistics, providing insight into the accuracy and coherence of the country's macroeconomic data reporting.
Q: Why is this trend relevant for users or analysts?
A: Trends in this statistical discrepancy can signal areas for improving economic data collection and reporting in Kuwait, which is important for economists and policymakers relying on accurate, reliable data.
Q: How is this data collected or calculated?
A: The World Bank calculates this indicator based on national accounts and trade statistics reported by the Kuwaiti government.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this indicator to assess the quality and reliability of Kuwait's economic data, which can inform efforts to improve data collection and reporting practices.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a 1-2 year delay compared to the most recent economic statistics for Kuwait.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Kuwait (CSHRCPKWA156NRUG), retrieved from FRED.