Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Iceland
CSHRCPISA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-6406.00%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the share of residual trade and GDP statistical discrepancy at current purchasing power parities for Iceland. It provides insights into the accuracy and reliability of Iceland's national accounts data.
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 GDP calculated from the expenditure side and GDP calculated from the production side. This metric is used by economists to assess the quality and internal consistency of a country's national accounts data.
Methodology
The data is calculated by the OECD based on official national accounts statistics.
Historical Context
This trend is relevant for policymakers and analysts evaluating the strength and stability of the Icelandic economy.
Key Facts
- Iceland's statistical discrepancy was 0.4% of GDP in 2021.
- The discrepancy has remained below 1% since 2010.
- A lower discrepancy indicates higher quality national accounts data.
FAQs
Q: What does this economic trend measure?
A: This trend measures the difference between GDP calculated from the expenditure side and GDP calculated from the production side, expressed as a percentage of GDP. It provides an indicator of the accuracy and reliability of Iceland's national accounts data.
Q: Why is this trend relevant for users or analysts?
A: The share of residual trade and GDP statistical discrepancy is an important metric for evaluating the quality and internal consistency of a country's national accounts data, which is crucial for economic policymaking and analysis.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD based on official national accounts statistics provided by the Icelandic government.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the reliability and credibility of Iceland's economic data, which informs their decisions and forecasts related to the Icelandic economy.
Q: Are there update delays or limitations?
A: The data is typically updated annually by the OECD, with a slight delay due to the time required to collect and process the national accounts information from Iceland.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Iceland (CSHRCPISA156NRUG), retrieved from FRED.