Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Fiji
CSHRCPFJA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.33
Year-over-Year Change
31.67%
Date Range
1/1/1960 - 1/1/2019
Summary
This economic indicator measures the statistical discrepancy between Fiji's trade and GDP data, adjusted for purchasing power parity. It provides insight into the quality and consistency of Fiji's national accounts.
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 a measure of the difference between Fiji's reported trade and GDP data, expressed as a percentage. This metric helps analysts assess the reliability and internal coherence of Fiji's economic statistics.
Methodology
The data is calculated by the World Bank using national accounts and trade statistics reported by the Fijian government.
Historical Context
This indicator is used by economists and policymakers to evaluate the overall quality of Fiji's economic data and inform analyses of the country's trade and growth trends.
Key Facts
- Fiji's statistical discrepancy has averaged around 3% of GDP in recent years.
- The discrepancy reflects differences between reported trade and GDP data.
- Reducing this discrepancy is a priority for improving Fiji's national accounts.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the statistical discrepancy between Fiji's reported trade and GDP data, after adjusting for purchasing power parity.
Q: Why is this trend relevant for users or analysts?
A: The size of this discrepancy provides insight into the overall quality and reliability of Fiji's economic statistics, which is important for policymakers and analysts studying the country's trade and growth.
Q: How is this data collected or calculated?
A: The World Bank calculates this indicator using national accounts and trade data reported by the Fijian government.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to evaluate the coherence and trustworthiness of Fiji's economic data, which informs analyses of the country's trade, growth, and development.
Q: Are there update delays or limitations?
A: There may be lags in data reporting and revisions to historical figures, as is common with national accounts statistics.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Fiji (CSHRCPFJA156NRUG), retrieved from FRED.