G's monthly and local search result

Can we rely on big G's assessment on how much competition there is for a particular keyword? Case in point, I was looking for a particular keyword and it is telling me that there is 10,000 monthly global search and 10,000 local search. Is that even possible there is exactly the same number of search for both local and global. So G is telling me that there is no other people outside of my local area using those search terms? I find that hard to believe.