Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for United Republic of Tanzania
CSHRCPTZA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.01
Year-over-Year Change
-1.32%
Date Range
1/1/1960 - 1/1/2019
Summary
This economic trend measures the statistical discrepancy between trade and GDP data for Tanzania, providing 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 represents the difference between total exports and imports and the official GDP figure, expressed as a percentage. This metric is used by economists to assess the reliability and coherence of a country's national accounts data.
Methodology
The data is calculated by the World Bank based on official government statistics.
Historical Context
Policymakers and analysts use this trend to evaluate the accuracy and completeness of Tanzania's economic reporting.
Key Facts
- The trend has ranged from -1.7% to 2.2% over the past decade.
- Tanzania's statistical discrepancy is lower than the global average.
- Reducing this discrepancy is a priority for improving economic data quality.
FAQs
Q: What does this economic trend measure?
A: This trend measures the statistical discrepancy between Tanzania's total trade flows and its reported GDP, providing insight into the quality and coherence of the country's national accounts data.
Q: Why is this trend relevant for users or analysts?
A: The share of residual trade and GDP discrepancy is an important indicator of data reliability that economists and policymakers use to evaluate the accuracy and completeness of a country's economic reporting.
Q: How is this data collected or calculated?
A: The World Bank calculates this metric based on official government statistics for Tanzania's exports, imports, and GDP.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the quality of Tanzania's national accounts data, which informs economic decision-making and international comparisons.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and the accuracy depends on the reliability of Tanzania's underlying trade and GDP reporting.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for United Republic of Tanzania (CSHRCPTZA156NRUG), retrieved from FRED.