About WorldData: FAQ (2024)

About WorldData: FAQ

	How many countries are covered in WorldData?
	How does the Economist Intelligence Unit produce its forecasts?
	How frequently is WorldData updated?
	What data series are contained in WorldData?
	What determines the series covered for each country?
	What determines the series covered in each regional aggregate?
	How does the Economist Intelligence Unit calculate its regional aggregates?

How many countries are covered in WorldData?
With macroeconomic forecasts for 150 countries, additional demographic and industry forecasts for the 60 larger economies and latest data releases for 100+ countries the service is truly global.

Each of the 150 countries is also the subject of an EIU country outlook. Country outlooks are concise 800-1,000-word summaries of the Economist Intelligence Unit's short-term thinking on a country. Each outlook contains nine sections--overview, domestic politics, international relations, policy trends, international assumptions, economic growth, inflation, exchange rates and external sector. Each section highlights the most salient parts of the EIU's forecast for the coming two years.

How does the Economist Intelligence Unit produce its forecasts?
The Economist Intelligence Unit produces a new global forecast every month. This is constructed with the aid of an econometric World Model, maintained by the UK based Oxford Economic Forecasting. Using this model allows the EIU to forecast much of the developed world simultaneously, test scenarios, and ensure global consistency.

In addition to the econometric World Model, the EIU also has spreadsheet-based models for each of the 150 countries covered in the WorldData database. Each individual forecast is conditioned on the main global forecast assumptions (major exchange rates, interest rates, growth and inflation forecasts for the major economies, world trade etc) to ensure complete consistency across countries.

The Economist Intelligence Unit employs over 80 analysts working on forecasting in London alone, with smaller teams in Vienna, Hong Kong, New York and other locations around the world. In addition, we employ about 500 freelance staff located in every country we cover, who work on intelligence gathering and analysis.

The forecast numbers, along with a detailed explanation of our economic outlook, are also published in our Country Forecast and Country Risk Service products.

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Forecast methodology

How frequently is WorldData updated?
WorldData is updated continuously during the day with the latest data releases from over 80 countries direct from primary sources. The Economist Intelligence Unit's world-class forecasts are updated every month to incorporate the latest economic and political events. The latest data together with timely forecasts makes WorldData one of the fastest and most reliable sources of economic data.

What types of data series are contained in WorldData?
WorldData contains a wealth of economic, industry and financial data and forecasts across 150 countries, 45 regions and 120,000+ series. The service provides in-depth coverage across the major economies and comprehensive coverage across the emerging and pre-emerging markets.

See also:

Data coverage

	The availability of official data from national sources. EcoWin has built up an extensive international network with various national statistics offices, central banks, financial exchanges and other sources for collecting data directly from primary sources. Coverage varies country by country depending on the available published data. Generally large amounts of data are available for the large developed economies and smaller amounts for the larger emerging markets. For example, 11,000+ series are available for Germany and 1,000+ for Brazil. For many of the small economies little or no official data are available.
	However, data coverage and the number of forecast series is also determined by the way in which the Economist Intelligence Unit classifies each country.

Larger emerging economies
Have the fullest coverage. Forecasts are generally undertaken on a five-year horizon, apart from some debt variables where forecasts are made on a two-year basis. Forecasts and data are provided for the real economy, GDP at PPPs, wages and the labour market, monetary indicators, policy indicators, exchange and interest rates, current and capital account, debt, and trade split by partner and commodity. Additional forecasts on demographics, personal income, markets and industries and the business and regulatory environment and are also supplied. An extended range of quarterly indicators and some monthly indicators are supplied.

Large economies
Generally the larger OECD members, are not considered to be at risk of debt default or major currency crises. Forecasts are undertaken with a five-year forecast horizon, but no forecasts are made of the capital account or of the external debt burden. Forecasts and data are provided for the real economy, GDP at PPPs, wages and the labour market, monetary indicators, policy indicators, exchange and interest rates and the current account. Additional forecasts on demographics, personal income, markets and industries and the business and regulatory environment and are also supplied. An extended range of quarterly indicators and some monthly indicators are supplied.

Smaller developing countries
Restricted to a two year forecast horizon, as reliable longer term forecasting is considered too problematic. Forecasts and data are provided for the real economy, monetary indicators, policy indicators, exchange and interest rates, current and capital account, debt, and trade split by partner and commodity. Some quarterly indicators are supplied.

Low-income countries
Restricted to a two year forecast horizon. Forecasts and data are provided for the real economy, monetary indicators, policy indicators, exchange and interest rates, current account, and trade split by partner. No quarterly or monthly indicators are supplied.

What determines the series covered in each regional aggregate?
The inclusion of series is determined by whether the series can be aggregated and by the availability of data for the individual countries that comprise the relevant region.

Series published in local currency (except for the euro area), interest rates, exchange rates, stockmarket indices and trade breakdowns by commodity and by country either cannot be aggregated or are difficult to interpret and so are not calculated. When selecting data, choose series converted into US$, growth rates and ratios where available, rather than local currency series.

All other series are calculated only if a threshold of the available individual countries' data is exceeded (see below).

How does the Economist Intelligence Unit calculate its regional aggregates?
Regional aggregates are calculated on the basis of the following methodology:

	Additive series (such as population and debt stock) are calculated only if the cumulative weight of countries' with actual data (including EIU forecasts) and not extrapolated data is greater than 80% of the total weight. When a country series does not have data for all years, that country must not exceed 1% of the total weight.
	Real national accounts are calculated at 1982, 1987, 1992 and 1996 prices and then re-based to 1996 prices. Again, thresholds of 80% for extrapolated data and 1% for data gaps are used.
	Consumer prices, industrial production, export prices, import prices, export volumes and import volumes are calculated using a weighted geometric average. These aggregates are calculated according to the weighting procedure described above and then re-based to 1996=100. The cumulative weight of countries' with actual data must exceed 60% of the total weight, and data gaps must not exceed 1% for the weighted average to be calculated.

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About the Economist Intelligence Unit