Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Sri Lanka
CSHRCPLKA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.04
Year-over-Year Change
424.33%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic indicator measures the statistical discrepancy between Sri Lanka's gross domestic product (GDP) and its trade balance, providing insights into the accuracy of national accounts 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
The share of residual trade and GDP statistical discrepancy represents the difference between Sri Lanka's GDP and the sum of its imports and exports, expressed as a percentage of GDP. This metric helps analysts understand the quality and reliability of the country's national accounts data.
Methodology
The data is calculated by the World Bank using official sources.
Historical Context
Policymakers and economists use this indicator to assess the quality of Sri Lanka's economic statistics and identify potential areas for improvement.
Key Facts
- Sri Lanka's statistical discrepancy averages around 3% of GDP.
- The discrepancy reflects differences between GDP and trade balance data.
- Reducing this gap is a goal for improving national accounts reliability.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the statistical discrepancy between Sri Lanka's gross domestic product (GDP) and its trade balance, expressed as a percentage of GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric helps analysts assess the quality and reliability of Sri Lanka's national accounts data, which is important for economic policymaking and analysis.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to identify potential areas for improving the accuracy and reliability of Sri Lanka's economic statistics.
Q: Are there update delays or limitations?
A: There may be delays in data availability and potential limitations in the underlying sources used to calculate this metric.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Sri Lanka (CSHRCPLKA156NRUG), retrieved from FRED.