Postgresql Numeric datatype
Numeric datatype:
 Numeric types consist of two, four, and eightbyte integers, four and eightbyte floatingpoint numbers, and selectableprecision decimals.
Name

Storage Size

Description

Range

smallint

2 bytes

smallrange integer

32768 to +32767

integer

4 bytes

typical choice for integer

2147483648 to +2147483647

bigint

8 bytes

largerange integer

9223372036854775808 to +9223372036854775807

decimal

variable

userspecified precision, exact

up to 131072 digits before the decimal point; up to 16383 digits after the decimal point

numeric

variable

userspecified precision, exact

up to 131072 digits before the decimal point; up to 16383 digits after the decimal point

real

4 bytes

variableprecision, inexact

6 decimal digits precision

Double
precision

8 bytes

variableprecision, inexact

15 decimal digits precision

smallserial

2 bytes

small autoincrementing integer

1 to 32767

serial

4 bytes

autoincrementing integer

1 to 2147483647

bigserial

8 bytes

large autoincrementing integer

1 to 9223372036854775807

Integer Types:
 The types smallint, integer, and bigint store whole numbers, that is, numbers without fractional components, of various ranges. Attempts to store values outside of the allowed range will result in an error.
 The type integer is the common choice, as it offers the best balance between range, storage size, and performance. The smallint type is generally only used if disk space is at a premium. The bigint type is designed to be used when the range of the integer type is insufficient.
 SQL only specifies the integer types integer (or int), smallint, and bigint. The type names int2, int4, and int8 are extensions, which are also used by some other SQL database system
Arbitrary Precision Numbers:
 The type numeric can store numbers with a very large number of digits. It is especially recommended for storing monetary amounts and other quantities where exactness is required. Calculations with numeric values yield exact results where possible, e.g. addition, subtraction, multiplication. However, calculations on numeric values are very slow compared to the integer types, or to the floatingpoint types described in the next section.
 We use the following terms below: The scale of a numeric is the count of decimal digits in the fractional part, to the right of the decimal point. The precision of a numeric is the total count of significant digits in the whole number, that is, the number of digits to both sides of the decimal point. So the number 23.5141 has a precision of 6 and a scale of 4. Integers can be considered to have a scale of zero.
NUMERIC(precision, scale)
The precision must be positive, the scale zero or positive. Alternatively:
NUMERIC(precision)
selects a scale of 0. Specifying:
Note: The maximum allowed precision when explicitly specified in the type declaration is 1000
NUMERIC
 without any precision or scale creates a column in which numeric values of any precision and scale can be stored, up to the implementation limit on precision. A column of this kind will not coerce input values to any particular scale, whereas numeric columns with a declared scale will coerce input values to that scale. (The SQL standard requires a default scale of 0, i.e., coercion to integer precision. We find this a bit useless. If you're concerned about portability, always specify the precision and scale explicitly.)
Note: The maximum allowed precision when explicitly specified in the type declaration is 1000
 If the scale of a value to be stored is greater than the declared scale of the column, the system will round the value to the specified number of fractional digits. Then, if the number of digits to the left of the decimal point exceeds the declared precision minus the declared scale, an error is raised.
 Numeric values are physically stored without any extra leading or trailing zeroes. Thus, the declared precision and scale of a column are maximums, not fixed allocations. (In this sense the numeric type is more akin to varchar(n) than to char(n).) The actual storage requirement is two bytes for each group of four decimal digits, plus three to eight bytes overhead.
 In addition to ordinary numeric values, the numeric type allows the special value NaN, meaning "notanumber". Any operation on NaN yields another NaN. When writing this value as a constant in an SQL command, you must put quotes around it, for example UPDATE table SET x = 'NaN'. On input, the string NaN is recognized in a caseinsensitive manner.
Note: In most implementations of the "notanumber" concept, NaN is not considered equal to any other numeric value (including NaN). In order to allow numeric values to be sorted and used in treebased indexes, PostgreSQL treats NaN values as equal, and greater than all nonNaN values.
FloatingPoint Types:
The data types real and double precision are inexact, variableprecision numeric types. In practice, these types are usually implementations of IEEE Standard 754 for Binary FloatingPoint Arithmetic (single and double precision, respectively), to the extent that the underlying processor, operating system, and compiler support it.
Inexact means that some values cannot be converted exactly to the internal format and are stored as approximations, so that storing and retrieving a value might show slight discrepancies. Managing these errors and how they propagate through calculations is the subject of an entire branch of mathematics and computer science and will not be discussed here, except for the following points:
On most platforms, the real type has a range of at least 1E37 to 1E+37 with a precision of at least 6 decimal digits. The double precision type typically has a range of around 1E307 to 1E+308 with a precision of at least 15 digits. Values that are too large or too small will cause an error. Rounding might take place if the precision of an input number is too high. Numbers too close to zero that are not representable as distinct from zero will cause an underflow error.
Note: The extra_float_digits setting controls the number of extra significant digits included when a floating point value is converted to text for output. With the default value of 0, the output is the same on every platform supported by PostgreSQL. Increasing it will produce output that more accurately represents the stored value, but may be unportable.
The data types real and double precision are inexact, variableprecision numeric types. In practice, these types are usually implementations of IEEE Standard 754 for Binary FloatingPoint Arithmetic (single and double precision, respectively), to the extent that the underlying processor, operating system, and compiler support it.
Inexact means that some values cannot be converted exactly to the internal format and are stored as approximations, so that storing and retrieving a value might show slight discrepancies. Managing these errors and how they propagate through calculations is the subject of an entire branch of mathematics and computer science and will not be discussed here, except for the following points:
 If you require exact storage and calculations (such as for monetary amounts), use the numeric type instead.
 If you want to do complicated calculations with these types for anything important, especially if you rely on certain behavior in boundary cases (infinity, underflow), you should evaluate the implementation carefully.
 Comparing two floatingpoint values for equality might not always work as expected.
On most platforms, the real type has a range of at least 1E37 to 1E+37 with a precision of at least 6 decimal digits. The double precision type typically has a range of around 1E307 to 1E+308 with a precision of at least 15 digits. Values that are too large or too small will cause an error. Rounding might take place if the precision of an input number is too high. Numbers too close to zero that are not representable as distinct from zero will cause an underflow error.
Note: The extra_float_digits setting controls the number of extra significant digits included when a floating point value is converted to text for output. With the default value of 0, the output is the same on every platform supported by PostgreSQL. Increasing it will produce output that more accurately represents the stored value, but may be unportable.
In addition to ordinary numeric values, the floatingpoint types have several special values:
InfinityInfinity
NaN
InfinityInfinity
NaN
 These represent the IEEE 754 special values "infinity", "negative infinity", and "notanumber", respectively. (On a machine whose floatingpoint arithmetic does not follow IEEE 754, these values will probably not work as expected.) When writing these values as constants in an SQL command, you must put quotes around them, for example UPDATE table SET x = 'Infinity'. On input, these strings are recognized in a caseinsensitive manner.
 PostgreSQL also supports the SQLstandard notations float and float(p) for specifying inexact numeric types. Here, p specifies the minimum acceptable precision in binary digits. PostgreSQL accepts float(1) to float(24) as selecting the real type, while float(25) to float(53) select double precision. Values of p outside the allowed range draw an error. float with no precision specified is taken to mean double precision.
Serial Types:
 The data types smallserial, serial and bigserial are not true types, but merely a notational convenience for creating unique identifier columns (similar to the AUTO_INCREMENT property supported by some other databases). In the current implementation, specifying:
CREATE TABLE tablename (
colname SERIAL
);
is equivalent to specifying:
CREATE SEQUENCE tablename_colname_seq; CREATE TABLE tablename ( colname integer NOT NULL DEFAULT nextval('tablename_colname_seq') ); ALTER SEQUENCE tablename_colname_seq OWNED BY tablename.colname;
Thus, we have created an integer column and arranged for its default values to be assigned from a sequence generator. A NOT NULL constraint is applied to ensure that a null value cannot be inserted. (In most cases you would also want to attach a UNIQUE or PRIMARY KEY constraint to prevent duplicate values from being inserted by accident, but this is not automatic.) Lastly, the sequence is marked as "owned by" the column, so that it will be dropped if the column or table is dropped.
Note: Because smallserial, serial and bigserial are implemented using sequences, there may be "holes" or gaps in the sequence of values which appears in the column, even if no rows are ever deleted. A value allocated from the sequence is still "used up" even if a row containing that value is never successfully inserted into the table column. This may happen, for example, if the inserting transaction rolls back
 To insert the next value of the sequence into the serial column, specify that the serial column should be assigned its default value. This can be done either by excluding the column from the list of columns in the INSERT statement, or through the use of the DEFAULT key word.
 The type names serial and serial4 are equivalent: both create integer columns. The type names bigserial and serial8 work the same way, except that they create a bigint column. bigserial should be used if you anticipate the use of more than 231 identifiers over the lifetime of the table. The type names smallserial and serial2 also work the same way, except that they create a smallint column.
 The sequence created for a serial column is automatically dropped when the owning column is dropped. You can drop the sequence without dropping the column, but this will force removal of the column default expression.
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