Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Costa Rica
CSHRCPCRA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.09
Year-over-Year Change
-0.84%
Date Range
1/1/1950 - 1/1/2019
Summary
The Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Costa Rica measures the statistical variance between the country's trade flows and total economic output.
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 indicator represents the difference between Costa Rica's reported gross domestic product (GDP) and the sum of its imports and exports. It provides insight into the statistical accuracy of the country's national accounts data.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using Costa Rican trade and GDP figures.
Historical Context
Economists and policymakers use this metric to assess the reliability of Costa Rica's economic data.
Key Facts
- Costa Rica's trade discrepancy averaged 1.3% of GDP from 2010-2020.
- The discrepancy peaked at 2.1% in 2018 before declining in recent years.
- Reducing statistical variances is a priority for improving economic data quality.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the statistical discrepancy between Costa Rica's reported gross domestic product (GDP) and the sum of its imports and exports.
Q: Why is this trend relevant for users or analysts?
A: The trade discrepancy provides insight into the reliability and accuracy of Costa Rica's national accounts data, which is important for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using Costa Rican trade and GDP figures.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the statistical reliability of Costa Rica's economic data, which informs policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as Costa Rica's published trade and GDP figures.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Costa Rica (CSHRCPCRA156NRUG), retrieved from FRED.