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Economic statistics

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Economic statistics is a topic in applied statistics and applied economics that concerns the collection, processing, compilation, dissemination, and analysis of economic data. It is closely related to business statistics and econometrics. It is also common to call the data themselves "economic statistics", but for this usage, "economic data" is the more common term. OverviewThe data of concern to economic statistics may include those of an economy within a region, country, or group of countries.

Official statisticsOfficial statisticsOfficial statistics are statistics published by government agencies or other public bodies such as international organizations as a public good. They provide quantitative or qualitative information on all major areas of citizens' lives, such as economic and social development, living conditions, health, education, and the environment. During the 15th and 16th centuries, statistics were a method for counting and listing populations and State resources.Applied economicsApplied economicsApplied economics is the application of economic theory and econometrics in specific settings.Economic dataEconomic data are data describing an actual economy, past or present. These are typically found in time-series form, that is, covering more than one time period (say the monthly unemployment rate for the last five years) or in cross-sectional data in one time period (say for consumption and income levels for sample households).EconometricsEconometricsEconometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference." An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships."EconomyEconomyAn economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources.List of national and international statistical servicesList of national and international statistical servicesThe following is a list of national and international statistical services. Central national statistical servicesNearly every country in the world has set a central public sector unit entirely devoted to the production, harmonisation and dissemination of official statistics that the public sector and the national community need to run, monitor and evaluate their operations and policies.European UnionEuropean UnionThe European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe. A supranational union with a total area of 4,233,255 km2 (1,634,469 sq mi) and an estimated population of just under 452 million as of 2026, its member states generated a nominal gross domestic product (GDP) of around €18.802 trillion in 2025, accounting for approximately one sixth of global economic output.United NationsUnited NationsGlobal intergovernmental organizationFlagEmblemMembers of the United NationsHeadquarters760 United Nations Plaza, Manhattan, New York City (international zone)Official languagesArabicChineseEnglishFrenchRussianSpanishOfficial scriptArabicCyrillicLatinSimplified ChineseTypeIntergovernmental organizationMembership193 member states2 observer statesLeaders• Secretary‑GeneralAntónio Guterres• Deputy Secretary-GeneralAmina J. Mohammed• General Assembly PresidentKhalilur Rahman• Economic and Social Council PresidentAmar BendjamaEstablishment• UN Charter signed 26 June 1945 (81 years ago) (1945-06-26)• Charter entered into force 24 October 1945 (80 years ago) (1945-10-24)Websiteun.orgThe United Nations (UN) is an international intergovernmental organization established by the signing of the Charter of the United Nations on 26 June 1945 with the articulated mission of maintaining international peace and security, to develop friendly relations among states, to promote international cooperation, and to serve as a centre for harmonizing the actions of states in achieving those goals.Data analysisData analysisData analysis is the process of inspecting, cleansing, transforming, and modelingdata with the goal of discovering useful information, informing conclusions, and supporting decision-making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, and is used in different business, science, and social science domains.Data collectionData collectionGathering information for analysis Example of data collection in the biological sciences: Adélie penguins are identified and weighed each time they cross the automated weighbridge on their way to or from the sea. Data collection or data gathering is the process of gathering and measuring information on targeted variables in an established system, which then enables one to answer relevant questions and evaluate outcomes.StatisticsStatisticsStudy of collection and analysis of dataThe normal distribution, a very common probability density, is used extensively in inferential statistics.Scatter plots and line charts are used in descriptive statistics to show the observed relationships between different variables, here using the Iris flower data set.Statistics (from German: Statistik, orig.

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