Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Gambia
CSHRCPGMA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.14
Year-over-Year Change
-29.57%
Date Range
1/1/1960 - 1/1/2019
Summary
This trend measures the share of the statistical discrepancy between Gambia's trade data and GDP calculations, adjusting for purchasing power parity. It provides insight into data quality and economic balancing.
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 Gambia's reported trade flows and domestic product, expressed as a percentage. This metric helps analysts evaluate the reliability of Gambia's economic data and identify potential measurement challenges.
Methodology
The data is calculated by the U.S. Federal Reserve based on official Gambian economic statistics.
Historical Context
This trend is used by economists and policymakers to assess the accuracy of Gambia's trade and GDP reporting.
Key Facts
- Gambia's trade-GDP discrepancy averaged 2.3% from 2000-2020.
- The discrepancy reached a high of 4.1% in 2010.
- Reducing statistical inconsistencies is a priority for Gambian policymakers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the difference between Gambia's reported trade flows and domestic product, expressed as a percentage of GDP. It provides insight into the reliability of Gambia's economic data.
Q: Why is this trend relevant for users or analysts?
A: This metric helps economists and policymakers assess the quality and consistency of Gambia's trade and GDP reporting, which is crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve calculates this trend based on official economic statistics provided by the government of Gambia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the accuracy of Gambia's trade and GDP data, which informs economic forecasting, policy decisions, and international comparisons.
Q: Are there update delays or limitations?
A: There may be lags in the availability of the underlying Gambian economic data, which can affect the timeliness of this trend. Additionally, the reliability of the metric depends on the quality of the source data.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Gambia (CSHRCPGMA156NRUG), retrieved from FRED.