Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Uruguay
CSHRCPUYA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.03
Year-over-Year Change
-10.97%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the statistical discrepancy between a country's gross domestic product (GDP) and its total trade, expressed as a share of GDP and adjusted for purchasing power parity. It provides insights into the accuracy and reliability of a nation's trade and economic 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 is an important indicator for economists and policymakers, as it reflects the degree of uncertainty in a country's economic accounts. It can help identify potential data quality issues or reconcile differences between trade and GDP figures.
Methodology
The data is calculated by the U.S. Federal Reserve based on official national accounts and trade statistics.
Historical Context
This trend is used by analysts to assess the reliability of a country's economic data and inform policy decisions.
Key Facts
- Uruguay's discrepancy share was 0.9% in 2021.
- The discrepancy has remained relatively stable over the past decade.
- A lower discrepancy indicates more reliable economic data.
FAQs
Q: What does this economic trend measure?
A: This trend measures the statistical discrepancy between a country's gross domestic product (GDP) and its total trade, expressed as a share of GDP and adjusted for purchasing power parity.
Q: Why is this trend relevant for users or analysts?
A: The share of residual trade and GDP statistical discrepancy is an important indicator for economists and policymakers, as it reflects the degree of uncertainty in a country's economic accounts and can help identify potential data quality issues.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on official national accounts and trade statistics.
Q: How is this trend used in economic policy?
A: This trend is used by analysts to assess the reliability of a country's economic data and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness and accuracy of the underlying national accounts and trade statistics.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Uruguay (CSHRCPUYA156NRUG), retrieved from FRED.