IMF Survey : IMF Offers Free Access to Its Online Economic Data

IMF News, January 26, 2015

Source details

Canonical URL: IMF Survey : IMF Offers Free Access to Its Online Economic Data

Publication date: January 26, 2015
From the start of 2015, the IMF has made its online economic data available to everyone free of charge.
Users have access to a wealth of macroeconomic data covering all economic sectors of a large part of the IMF’s member countries.
Quote: “The free data program ‘will help all those who draw on our data make better use of this vital statistical resource—from budget numbers to balance of payments data, debt statistics to critical global indicators,’” said IMF Managing Director Christine Lagarde.

Objective: Expand usage, facilitate greater transparency, and support better policy choices.
Rationale: Good data can help policymakers identify and manage macroeconomic and financial vulnerabilities.
Expected user capabilities:
- Download, share, visualize, query, and customize data.
- Collect time series in a workbook for further analysis.

The IMF released a new data portal as an enhanced dissemination platform to support the move to free data.
Features listed:
- Search time series.
- Access portals and create visualizations.
- Discover datasets, data news, and related documents.
- Time series can be collected in a workbook for further analysis.
- Greater dynamic data visualizations that show development over time and interact with each other.
Intended result: Improve distribution of data and statistics to IMF membership and users worldwide; compile data in accordance with internationally accepted statistical methodologies and ensure comparability across countries.

Historically subscription-based datasets that are now unrestricted online:
- International Financial Statistics (IFS)
- Provides a complete library of continuously updated international statistics on all aspects of international and domestic finance.
- Reports data on exchange rates, international liquidity, money and banking, interest rates, prices, production, international transactions, government accounts, and national accounts.
- Balance of Payments Statistics (BOP/IIP)
- Contains balance of payments and international investment position (IIP) data of individual countries, jurisdictions, and other reporting entities, and regional and world totals for major components of the balance of payment.
- History to 1960.
- Government Finance Statistics (GFS)
- Comprehensive annual GFS data covers various levels of government—including relevant general, central, state and local governments.
- Supplemented by metadata comprising the institutional structure of governments—budgetary and extra budgetary financial operations data of governments.
- History to 1990.
- Directions of Trade Statistics (DOTS)
- Displays the value of exports and imports between countries and areas with their trading partners.
- Reported data are supplemented by estimates whenever such data are not available to allow for a global representation of trade.
- History to 1980.
Note: Print publications will still be charged to recover the cost of postage and printing.

Assertion: Without reliable and timely economic data, observers cannot clearly identify turning points in the economy or see looming risks that require policy adjustments or changes in course.
Statement: “The IMF will continue to be a vital source of public information that is needed to underpin sound policy decisions,” Lagarde affirmed.

IMF Survey: IMF Offers Free Access to Its Online Economic Data (January 26, 2015).