Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Jamaica
CSHRCPJMA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
-100.00%
Date Range
1/1/1953 - 1/1/2019
Summary
This economic trend measures the share of the statistical discrepancy between Jamaica's trade flows and GDP at current purchasing power parities. It provides insight into the measurement accuracy of Jamaica'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 statistical discrepancy between a country's trade and GDP reflects errors and omissions in data collection or estimation. This metric tracks the size of this discrepancy relative to Jamaica's GDP, offering analysts a sense of the reliability of the island nation's economic statistics.
Methodology
The data is calculated by the World Bank based on national accounts and trade flow statistics.
Historical Context
Policymakers and investors use this metric to gauge the quality of Jamaica's economic data.
Key Facts
- Jamaica's trade-GDP discrepancy averages around 5% of GDP.
- The discrepancy has trended downward since the early 2000s.
- Lower discrepancies suggest improved data collection.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the statistical discrepancy between Jamaica's trade flows and GDP at current purchasing power parities, providing insight into the reliability of the country's economic data.
Q: Why is this trend relevant for users or analysts?
A: The size of the trade-GDP discrepancy is an important indicator of the quality and accuracy of a country's national accounts data, which is crucial for policymaking and economic analysis.
Q: How is this data collected or calculated?
A: The World Bank calculates this metric based on official national accounts and trade flow statistics for Jamaica.
Q: How is this trend used in economic policy?
A: Policymakers and investors use this metric to gauge the reliability of Jamaica's economic data, which informs their decisions and assessments of the island nation's economic performance and policies.
Q: Are there update delays or limitations?
A: This metric may be subject to revisions as Jamaica updates its national accounts and trade data, and there can be lags in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Jamaica (CSHRCPJMA156NRUG), retrieved from FRED.