diff --git a/packages/core/src/destination-kit/action.ts b/packages/core/src/destination-kit/action.ts
index fc8872885ab..975a3613a97 100644
--- a/packages/core/src/destination-kit/action.ts
+++ b/packages/core/src/destination-kit/action.ts
@@ -318,7 +318,7 @@ export class Action<Settings, Payload extends JSONLikeObject, AudienceSettings =
     const results: Result[] = []
 
     // Resolve/transform the mapping with the input data
-    let payload = transform(bundle.mapping, bundle.data) as Payload
+    let payload = transform(bundle.mapping, bundle.data, bundle.statsContext) as Payload
     results.push({ output: 'Mappings resolved' })
 
     // Remove empty values (`null`, `undefined`, `''`) when not explicitly accepted
@@ -387,7 +387,7 @@ export class Action<Settings, Payload extends JSONLikeObject, AudienceSettings =
 
     const mapping: JSONObject = bundle.mapping
 
-    let payloads = transformBatch(mapping, bundle.data) as Payload[]
+    let payloads = transformBatch(mapping, bundle.data, bundle.statsContext) as Payload[]
     const batchPayloadLength = payloads.length
 
     const multiStatusResponse: ResultMultiStatusNode[] = []
diff --git a/packages/core/src/destination-kit/index.ts b/packages/core/src/destination-kit/index.ts
index d6ab886f4cd..45927603b6f 100644
--- a/packages/core/src/destination-kit/index.ts
+++ b/packages/core/src/destination-kit/index.ts
@@ -725,6 +725,10 @@ export class Destination<Settings = JSONObject, AudienceSettings = JSONObject> {
   ): Promise<Result[]> {
     const isBatch = Array.isArray(events)
 
+    if (options?.statsContext?.tags !== undefined) {
+      options.statsContext.tags = [...options.statsContext.tags, `partnerAction:${subscription.partnerAction}`]
+    }
+
     const subscriptionStartedAt = time()
     const actionSlug = subscription.partnerAction
     const input = {
diff --git a/packages/core/src/mapping-kit/index.ts b/packages/core/src/mapping-kit/index.ts
index 7a551f40c0b..1ecea5de2e5 100644
--- a/packages/core/src/mapping-kit/index.ts
+++ b/packages/core/src/mapping-kit/index.ts
@@ -8,10 +8,12 @@ import validate from './validate'
 import { arrify } from '../arrify'
 import { flattenObject } from './flatten'
 import { evaluateLiquid } from './liquid-directive'
+import { StatsContext } from '../destination-kit'
+import { isLiquidDirective } from './value-keys'
 
 export type InputData = { [key: string]: unknown }
 export type Features = { [key: string]: boolean }
-type Directive = (options: JSONValue, payload: JSONObject) => JSONLike
+type Directive = (options: JSONValue, payload: JSONObject, statsContext?: StatsContext | undefined) => JSONLike
 type StringDirective = (value: string, payload: JSONObject) => JSONLike
 
 interface Directives {
@@ -42,7 +44,7 @@ function registerStringDirective(name: string, fn: StringDirective): void {
   })
 }
 
-function runDirective(obj: JSONObject, payload: JSONObject): JSONLike {
+function runDirective(obj: JSONObject, payload: JSONObject, statsContext?: StatsContext | undefined): JSONLike {
   const name = Object.keys(obj).find((key) => key.startsWith('@')) as string
   const directiveFn = directives[name]
   const value = obj[name]
@@ -51,6 +53,10 @@ function runDirective(obj: JSONObject, payload: JSONObject): JSONLike {
     throw new Error(`${name} is not a valid directive, got ${realTypeOf(directiveFn)}`)
   }
 
+  if (name === '@liquid') {
+    return directiveFn(value, payload, statsContext)
+  }
+
   return directiveFn(value, payload)
 }
 
@@ -326,8 +332,8 @@ registerDirective('@excludeWhenNull', (value, payload) => {
   return cleanNulls(resolved)
 })
 
-registerDirective('@liquid', (opts, payload) => {
-  return evaluateLiquid(opts, payload)
+registerDirective('@liquid', (opts, payload, statsContext) => {
+  return evaluateLiquid(opts, payload, statsContext)
 })
 
 // Recursively remove all null values from an object
@@ -381,23 +387,40 @@ function getMappingToProcess(mapping: JSONLikeObject): JSONLikeObject {
  * @param payload - the input data to apply to the mapping directives
  * @todo support arrays or array directives?
  */
-function resolve(mapping: JSONLike, payload: JSONObject): JSONLike {
+function resolve(mapping: JSONLike, payload: JSONObject, statsContext?: StatsContext | undefined): JSONLike {
   if (!isObject(mapping) && !isArray(mapping)) {
     return mapping
   }
 
   if (isDirective(mapping)) {
+    if (isLiquidDirective(mapping)) {
+      // Only include stats, and therefore extra fieldKey tags, if the mapping is a liquid directive to save on costs
+      return runDirective(mapping, payload, statsContext)
+    }
+
     return runDirective(mapping, payload)
   }
 
   if (Array.isArray(mapping)) {
-    return mapping.map((value) => resolve(value, payload))
+    return mapping.map((value) => resolve(value, payload, statsContext))
   }
 
   const resolved: JSONLikeObject = {}
 
   for (const key of Object.keys(mapping)) {
-    resolved[key] = resolve(mapping[key], payload)
+    let originalTags: string[] = []
+    const statsTagsExist = statsContext?.tags !== undefined
+
+    if (statsTagsExist) {
+      originalTags = statsContext.tags
+      statsContext.tags = [...statsContext.tags, `fieldKey:${key}`]
+    }
+
+    resolved[key] = resolve(mapping[key], payload, statsContext)
+
+    if (statsTagsExist) {
+      statsContext.tags = originalTags
+    }
   }
 
   return resolved
@@ -409,7 +432,11 @@ function resolve(mapping: JSONLike, payload: JSONObject): JSONLike {
  * @param mapping - the directives and raw values
  * @param data - the input data to apply to directives
  */
-function transform(mapping: JSONLikeObject, data: InputData | undefined = {}): JSONObject {
+function transform(
+  mapping: JSONLikeObject,
+  data: InputData | undefined = {},
+  statsContext?: StatsContext | undefined
+): JSONObject {
   const realType = realTypeOf(data)
   if (realType !== 'object') {
     throw new Error(`data must be an object, got ${realType}`)
@@ -420,7 +447,7 @@ function transform(mapping: JSONLikeObject, data: InputData | undefined = {}): J
   // throws if the mapping config is invalid
   validate(mappingToProcess)
 
-  const resolved = resolve(mappingToProcess, data as JSONObject)
+  const resolved = resolve(mappingToProcess, data as JSONObject, statsContext)
   const cleaned = removeUndefined(resolved)
 
   // Cast because we know there are no `undefined` values anymore
@@ -432,7 +459,11 @@ function transform(mapping: JSONLikeObject, data: InputData | undefined = {}): J
  * @param mapping - the directives and raw values
  * @param data - the array input data to apply to directives
  */
-function transformBatch(mapping: JSONLikeObject, data: Array<InputData> | undefined = []): JSONObject[] {
+function transformBatch(
+  mapping: JSONLikeObject,
+  data: Array<InputData> | undefined = [],
+  statsContext?: StatsContext | undefined
+): JSONObject[] {
   const realType = realTypeOf(data)
   if (!isArray(data)) {
     throw new Error(`data must be an array, got ${realType}`)
@@ -443,7 +474,7 @@ function transformBatch(mapping: JSONLikeObject, data: Array<InputData> | undefi
   // throws if the mapping config is invalid
   validate(mappingToProcess)
 
-  const resolved = data.map((d) => resolve(mappingToProcess, d as JSONObject))
+  const resolved = data.map((d) => resolve(mappingToProcess, d as JSONObject, statsContext))
 
   // Cast because we know there are no `undefined` values after `removeUndefined`
   return removeUndefined(resolved) as JSONObject[]
diff --git a/packages/core/src/mapping-kit/liquid-directive.ts b/packages/core/src/mapping-kit/liquid-directive.ts
index 2ba6c4d55cc..75342f1779e 100644
--- a/packages/core/src/mapping-kit/liquid-directive.ts
+++ b/packages/core/src/mapping-kit/liquid-directive.ts
@@ -1,4 +1,5 @@
 import { Liquid } from 'liquidjs'
+import { StatsContext } from '../destination-kit'
 
 const liquidEngine = new Liquid({
   renderLimit: 500, // 500 ms
@@ -58,7 +59,7 @@ export function getLiquidKeys(liquidValue: string): string[] {
   return liquidEngine.fullVariablesSync(liquidValue)
 }
 
-export function evaluateLiquid(liquidValue: any, event: any): string {
+export function evaluateLiquid(liquidValue: any, event: any, statsContext?: StatsContext | undefined): string {
   if (typeof liquidValue !== 'string') {
     // type checking of @liquid directive is done in validate.ts as well
     throw new Error('liquid template value must be a string')
@@ -72,7 +73,22 @@ export function evaluateLiquid(liquidValue: any, event: any): string {
     throw new Error('liquid template values are limited to 1000 characters')
   }
 
-  const res = liquidEngine.parseAndRenderSync(liquidValue, event)
+  let res: string
+  const start = Date.now()
+  let status: 'success' | 'fail' = 'success'
+
+  try {
+    res = liquidEngine.parseAndRenderSync(liquidValue, event)
+  } catch (e) {
+    status = 'fail'
+    throw e
+  } finally {
+    const duration = Date.now() - start
+    statsContext?.statsClient?.histogram('liquid.template.evaluation_ms', duration, [
+      ...statsContext.tags,
+      `result:${status}`
+    ])
+  }
 
   if (typeof res !== 'string') {
     return 'error'