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This publication explains how developing economies that adopt the Statistical Data and Metadata eXchange (SDMX) standard will benefit from enhanced efficiency in data collection, production, and exchange. In today's data-driven world, the efficient exchange, analysis, and dissemination of statistical data is vital for informed decision-making and policy formulation across both government and the private sector. However, the entry of new data producers and a surge in available data poses challenges for traditional statistical entities, compelling them to innovate while maintaining data quality. In response, the SDMX standard has emerged as a solution, offering a comprehensive framework to streamline data activities and promote interoperability.