eu.us.opendata

The United States Department of Commerce and the Bureau of Economic Analysis in partnership with the European Commission's DG CONNECT and Eurostat have established a Transatlantic Open Data Partnership focused on economic data. The eu.us.opendata R library is the direct result of this collaborative effort, enabling easy access to comparable datasets from the Eurostat API and BEA API. Built following a Linked Open Data design, the R library taps into the Bureau of Economic Analysis' API and the Eurostat API to make comparable data accessible. In only a few lines of code, a data analyst can obtain economic data

Type of content: Assets

Type of asset:

Data source

Big data potential

Yes

Policy domains: Economy & Finance

Phase in the policy cycle:

Policy Design and Analysis

Open license availability

Ease of use

High

Website

https://www.bea.gov/developers/r-index.htm

Tags: Open Data Real time information

Serves:

Include scientific knowledge and expertise

Addresses:

SWOT Analysis for eu.us.opendata
	Helpful	Harmful
Internal	Strengths• Allows users to "mix and match" regional macroeconomic data about the United States and the European Union. • The R library uses Linked Open Data to establish relationships between comparable EU and US economic indicators. • The library therefore makes it easier for data scientists and researchers to make comparisons of the EU and US economies. • Offers integrated access to key indicators on the EU and US economies; on GDP, population, employment, and disposable income, by industry and region. • More intensive usage of stored data • Opening and connecting of data • Diversity of opinion and interests • Input for economic development	Weaknesses• Provides data only for EU members and US • Uncertainty of existing copyright laws • Long standardisation processes
External	Opportunities• Strengthening of economy. • Re-use and recovery of data • Transparency, participation, collaboration. • External impulses of innovation. • Usage of collective intelligence • Data Visualisation	Threats• Data quality • Balance between openness and protection of information.

Open data - Download the Knowledge base