Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for United Kingdom
CSHRCPGBA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.07
Year-over-Year Change
24.05%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the statistical discrepancy between the United Kingdom's trade flows and GDP at current purchasing power parities. It is an important indicator for economists and policymakers to understand data quality and potential imbalances in the UK'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 represents the difference between the UK's gross domestic product and the sum of its exports and imports, expressed as a percentage. This metric helps analysts identify potential measurement issues or inconsistencies in the national accounts data.
Methodology
The data is calculated by the UK's Office for National Statistics based on national accounts and trade flow statistics.
Historical Context
This trend provides context for interpreting the UK's trade and GDP figures, which are closely watched by policymakers and financial markets.
Key Facts
- The UK's statistical discrepancy has averaged around 1% of GDP in recent years.
- Reducing this discrepancy is a priority for improving national economic data quality.
- The discrepancy can signal potential measurement challenges or data collection issues.
FAQs
Q: What does this economic trend measure?
A: This trend measures the statistical discrepancy between the United Kingdom's trade flows and gross domestic product at current purchasing power parities. It represents the difference between GDP and the sum of exports and imports.
Q: Why is this trend relevant for users or analysts?
A: The statistical discrepancy is an important indicator for understanding potential data quality issues or inconsistencies in the UK's national accounts. It provides context for interpreting the country's trade and GDP figures.
Q: How is this data collected or calculated?
A: The data is calculated by the UK's Office for National Statistics based on national accounts and trade flow statistics.
Q: How is this trend used in economic policy?
A: This trend provides valuable context for policymakers and financial markets analyzing the UK's trade performance and broader economic conditions. Reducing the statistical discrepancy is a priority for improving the quality of national economic data.
Q: Are there update delays or limitations?
A: The data is published regularly by the UK's statistical agency, but there may be some update delays or limitations due to the complexity of national accounts compilation.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for United Kingdom (CSHRCPGBA156NRUG), retrieved from FRED.