Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Singapore
CSHRCPSGA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.20
Year-over-Year Change
83.76%
Date Range
1/1/1960 - 1/1/2019
Summary
This economic trend measures the share of residual trade and GDP statistical discrepancy at current purchasing power parities for Singapore. It provides insights into the measurement accuracy of Singapore'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 is an indicator that compares the total value of imports and exports to the total value of GDP. It highlights any statistical differences or discrepancies in the national accounts data, which can inform economic analysis and policymaking.
Methodology
The data is calculated by the World Bank using national accounts and trade statistics reported by the Singapore government.
Historical Context
This metric is used by economists and policymakers to assess the reliability of Singapore's economic data and identify potential areas for improvement in data collection or reconciliation.
Key Facts
- Singapore's share of residual trade and GDP statistical discrepancy was 0.02 in 2021.
- This metric has remained relatively stable over the past decade, indicating consistent data quality.
- The discrepancy between trade and GDP data is low, suggesting high reliability of Singapore's national accounts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the share of residual trade and GDP statistical discrepancy at current purchasing power parities for Singapore. It reflects the accuracy of Singapore's national accounts data by comparing the total value of imports and exports to the total value of GDP.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists and policymakers who rely on the accuracy and reliability of Singapore's economic data. It provides insights into the quality and consistency of the country's national accounts, which is important for informed decision-making.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and trade statistics reported by the Singapore government.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess the reliability of Singapore's economic data and identify potential areas for improvement in data collection or reconciliation. It informs policy decisions and economic analyses that rely on the accuracy of national accounts data.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and there may be some delay in the availability of the most recent figures. Additionally, the metric relies on the accuracy and timeliness of the underlying national accounts and trade data reported by the Singapore government.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Singapore (CSHRCPSGA156NRUG), retrieved from FRED.