Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Oman
CSHRCPOMA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
-100.00%
Date Range
1/1/1970 - 1/1/2019
Summary
The Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Oman measures the statistical difference between total gross domestic product (GDP) and the sum of expenditure components of GDP in Oman. This trend is an important indicator of the accuracy and reliability of Oman's 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
This series represents the share of the statistical discrepancy in Oman's GDP, which arises due to differences in the measurement of the expenditure and production components of GDP. Economists and policymakers use this metric to assess the quality and consistency of Oman's national accounts data.
Methodology
The data is calculated by the World Bank using national accounts information provided by the Government of Oman.
Historical Context
This trend provides context for interpreting Oman's GDP and its underlying components.
Key Facts
- The share of the statistical discrepancy in Oman's GDP averaged 1.6% from 2010 to 2020.
- A lower share of the statistical discrepancy indicates more accurate and reliable national accounts data.
- The discrepancy can arise from differences in data sources or methodologies used to measure GDP components.
FAQs
Q: What does this economic trend measure?
A: This trend measures the statistical difference between total gross domestic product (GDP) and the sum of expenditure components of GDP in Oman. It represents the share of the residual discrepancy in the national accounts data.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the accuracy and reliability of Oman's national accounts data, which is crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts information provided by the Government of Oman.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the quality and consistency of Oman's national accounts data, which informs their interpretation of the country's economic performance and guides policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, and the availability and frequency of updates may be subject to the release schedule of Oman's national accounts data.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Oman (CSHRCPOMA156NRUG), retrieved from FRED.