Essential skills for interpreting economic data in UPSC exams include critical analysis, data visualization, and contextual understanding. Candidates must be adept at identifying trends, anomalies, and correlations within data sets, as well as recognizing their implications for policies. Skills in statistical analysis enhance the interpretation of charts and graphs commonly found in economic reports. Familiarity with core concepts such as GDP, inflation rates, and economic indicators equips aspirants to respond effectively to related questions, facilitating informed discussions on economic issues.