Transcript 2.GDP by Expenditure Approach - United Nations Statistics Division

GRENADA
DEVELOPING A PROGRAMME FOR THE
IMPLEMENTATION OF SNA 2008
Presented by
Margaret Frame
ECONOMIC DIVISION
CENTRAL STATISTICS OFFICE
JANUARY 29, 2013
OUTLINE
• THE MAIN NATIONAL POLICY
• STATISTICAL REQUIREMENTS
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NSDS
Statistical Data Sources
Data Dissemination
Data Storage
• STATISTICAL ACTIONS
– Current Practice
– Current Development
• WAY FORWARD FOR PREPARING A STATEGIC VISION FOR THE CHANGE
OVER TO:• SNA 2008
• ISIC REVISION 4
• ADAPTED DATA TEMPLATE FOR SHORT TERM ECONOMIC STATISTICS
THE MAIN NATIONAL POLICY OF GOVERMNMENT
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Economic transformation of the Grenadian economy
This means that Grenada must now transition from
-a two pillar economy consisting of tourism and agriculture
-to a five pillar economy that is more diversified, resilient to external
shocks and capable of generating higher employment and income
opportunities for its people
Government advanced the transformation agenda by approving a National
Investment Promotion Strategy. The five transformational sectors are
anchored in this Strategy.
The Five Transformational sectors
•Education, Health and Wellness and Services
• Tourism and Hospitality
• Energy Development (renewable and non-renewable)
• Agribusiness
• Information Communications and Technology.
These new drivers of growth are also entrenched in the Poverty Reduction
Strategy of Government.
The CSO must be position to produce timely, reliable and accurate statistical data to
be used for planning and monitoring the social and economic development of
Grenada , Carriacou and Petite Martinique, as stated in its mission statement.
This means that CSO must delivery efficient and effective economic and social
statistics to government, national, regional and international communities, through
the improvement and development of statistical programmes that crates to the
changing environment.
STATISTICAL REQUIREMENT
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STATISTICS ENVIRONMENT
ESTLABLISH National Strategy for the Development of Statistics -NSDS
Statistical structure
Revision and enforcement of the Statistical acts
Memoranda of understanding
Human Resource
International standard
Training
Advocacy – aim at increasing response rate
Technical Assistance
Improvement in the coordination among regional and
international organization
STATISTICAL REQUIREMENT Cont.
2. STATISTICAL DATA
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GDP BY THE PRODUCTION APPROCAH ( CURRENT AND CONSTANT)
GDP BY EXPENDITURE APPROACH (current and constant)
QUARTERLY GDP
BALANCE OF PAYMENTS BPM6
SUPPLY AND USE TABLES
TOURISM STATATILE ACCOUNTS
SHORT TERM INDICATORS - HIGH FREQUENCY INDICATORS
PRICE STATISTICS
PRODUCTION STATISTICS
LABOUR MARKET INFORMATION
DEMOGRAPHIC STATISTICS
ENVIRONMENT STATISTICS
CREATIVE INDUSTRY
INFORMAL SECTOR SURVEY
STATISTICAL REQUIREMENT Cont.
3. DATA SOURCES
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Business register
Business Establishment survey
Administration data sources
Other internal surveys done by the office eg price surveys, population
census, household expenditure and trade statistics.
4. DATA DISSEMINATION
• Statistical publication
• Government gazette
• Internet / ECCB website, regional and international organisation
• CSO Website
• On request.
5. DATA STORAGE
• Both at the domestic and external level
STATISTICAL ACTIONS
GROSS DOMESTIC PRODUCT (GDP)
1. GDP by PRODUCTION APPROACH
In 2007, Grenada Central Statistical Office (CSO) embarked on an exercise to
rebase its system of National Accounts to reference year 2006 (previous year1990)
Eastern Caribbean Central Bank (ECCB) & CARTAC provided Technical Assistance
in the Rebasing of the National Accounts.
THE REVISION PROCESS INCLUDED:
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Improving the method and procedure in estimating GDP in accordance with the
system of national accounts (SNA 1993).
Incorporating new and revised data into the estimates – improving coverage 29%
Revision of the national accounts classification of industries – ISIC 3.1
Both in current and constant prices by industries
2. GDP BY EXPENDITURE – CURRENT PRICES – RESIDUAL METHOD
3. QUARTERLY GDP INDEX – USE TO REVISE ANNUAL GDP
The main sources of data are as follows:
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Annual National Accounts Survey of Establishments
Government Estimates of Revenue and Expenditure
Administrative Data from Government Departments
Other data Sources from CSO
Consumer Price Index (CPI)
Production Statistics
External Trade Statistics
Balance of Payments (BOP) Surveys
Household Income & Expenditure Survey
Census of Population and Housing
Labour force survey
Business Register
CURRENT DEVELOPMENT
1. PARTICIPATING in ICP 2011 Round
GDP
PRICES
2.GDP by Expenditure Approach
Technical assistance is provided by CARTAC and ECCB in developing the
Estimates in both current and constant prices
• The objective is to improve the GDP by expenditure by having an
independent method of estimation for private consumption expenditure
by applying the basic expenditure headings.
COICOP
Classification of government by function COFOG
Government final Consumption – individual & Collective services
• This will allow consistency with the conceptual framework of the SNA
• To be completed by December 2013
GDP BY EXPENDITURE APPROACH
CONSUMPTION
• Household Final Consumption Expenditure
• NPISH Final Consumption Expenditure
• Government Final Consumption Expenditure
Distribution of FISIM by users
• Gross Fixed Capital Formation
Changes in inventories
• Imports and exports of goods
• Taxes on Production and Imports
• Subsidies
SHORT TERM ECONOMIC INDICATORS
CURRENTLY PRODUCE INDICATORS
MONTHLY / QUARTERLY
• Consumer Price index
• External Trade Statistics
• Financial data – Commercial Banks, credit union
• Agricultural crops
• Fish production
• Quarry production
• Tourist Arrival
• Motor Vehicle Registration
• Selected Production Data
• Building Permits
• Water and electricity production and consumption
• New registered employees
• Retail sale index – selected companies - total
WAY FORWARD FOR PREPARING A STATEGIC VISION FOR THE CHANGE OVER TO
SNA 2008, ISIC REVISION 4 &
ADAPTED DATA TEMPLATE FOR SHORT TERM ECONOMIC STATISTICS
• To adopt the Caricom SNA implementation plan
– NSDS was launch in October 2012
• OECS Countries to agree on a phase approach
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Technical Assistance
Identify and agree on concepts to be implemented with timeline
GDP by Expenditure
Quarterly GDP
Implement BPM 6 - EBOPS
Revision of questionnaires
Business Register - improvement
Discuss on the short term indicators as identify in the template
THANK YOU