Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Georgia
CSHRCPGEA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.23
Year-over-Year Change
95.58%
Date Range
1/1/1990 - 1/1/2019
Summary
This economic indicator measures the statistical discrepancy between gross domestic product (GDP) and total trade flows for the U.S. state of Georgia, providing insights into data reliability and economic imbalances.
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 domestic output (GDP) and total imports and exports, expressed as a percentage of GDP. This metric helps analysts identify potential inconsistencies or imbalances in state-level economic data.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and researchers use this indicator to assess the quality of Georgia's economic data and identify areas for further analysis or improvement.
Key Facts
- The average share of residual trade and GDP discrepancy for Georgia was 1.4% from 2010 to 2020.
- Discrepancies can arise from differences in data sources or methodologies used to measure trade and GDP.
- High discrepancy levels may indicate areas for improving economic data collection and analysis.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the statistical discrepancy between Georgia's gross domestic product (GDP) and its total trade flows, expressed as a percentage of GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric helps analysts and policymakers assess the quality and reliability of Georgia's economic data, and identify potential areas for improvement in data collection and analysis.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and researchers use this indicator to evaluate the consistency and accuracy of Georgia's economic data, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and may have a delay of several months between the end of the reporting period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Georgia (CSHRCPGEA156NRUG), retrieved from FRED.