Mexican System of National
Accounts: achievements and prospects

One of the objectives that INEGI persecutes is to offer timeliness economic data that fulfills with criteria of international acceptance and that allows to the users a better knowledge of the economic performance of the country and in the decision making of public policies.
The Mexican national accounts are compiled and disclosed by the National Institute of
Statistic and Geography (INEGI).
The operation of the INEGI is based in the Law of the National System of Information on
Statistics and Geography (LSNIEG). This
Law indicates that INEGI is a public organism with technical autonomy and of management.

The Institute has like exclusive faculties to: make the national censuses, integrate the system of national accounts and elaborate the national consumer and producer prices indexes.
The system of national accounts has the character of information of national interest.

At present the MSNA uses fixed base year, the reference year is 2003. The past year initiated a project for updating the base year from 2003 to 2008, the project is planning to conclude in
2013. The timetable envisaged for generic activities is as follows:
2010 2011 2012 2013 Activity
Supply and use tables 2008
Input-output table 2008
Annual calculations base 2008 = 100: industry and institutional sector
Short term indicators base 2008 = 100
Satellite accounts
Systemic Comprehensive Program of the
MSNA

Accounts by institutional sectors
Input-output table
Goods and services accounts
• International recommendations:
 SNA 2008
 IMF-ROSC Mexico
 Recommendation
# 15 of the G-20,
Sectoral accounts
(compilation of balance sheets)
Supply and use tables
Short term indicators
Satellite accounts
• New classifications:
 NAICS 2007
 CCP 2.0
 Classifications by purpose
• Infrastructure of basic statistics
• Enhanced retrospective series
Systemic Comprehensive Program
Mexican
System of
National
Accounts
2008

The MSNA is generated on the basis of the guidelines that emanate of the SNA 1993, and recently already has been possible the incorporation of some items reviewed in the SNA
2008, mainly in the Accounts by institutional sectors.
The items already incorporated are:
• Treatment of non-life insurance in catastrophic situations
• Measurement of financial services
• Treatment of the output of Central Bank
• Financial assets classification and subsectors of the financial sector
• Private/public/government sector delineation

The items not yet achieved in the MSNA have been classified in two groups.
• The first whose incorporation could be obtained by means of the Project of the change of base year 2008.
• The second one involves interrelations with other statistical systems (Balance of payments, Government finance) and that, therefore, entails a deeper work than should be solved through the interinstitutional mechanisms.

INEGI’s participation in the G20
Recommendations
The attention of the G20 Recommendations in Mexico, specially the 15 th one, correspond to INEGI with the support on information mainly provided by Bank of Mexico or/and
Secretariat of Finance and Public Credit and other financial institutions, depending on its scope.
• Compilation and dissemination of the balance sheet approach (BSA), flow of funds, and sectoral data more generally, starting with the G-20 economies. Data on nonbank financial institutions should be a particular priority.
The experience of the ECB and Eurostat within Europe
and the OECD should be drawn upon.

In order to comply with this recommendation, INEGI has developed a preliminary exercise for Balance sheets for the period 2002-2009. For this, the initial data needs to be confronted with several sources, thus the measurements do not reflect the final data or version.
This exercise will serve as a diagnostic to assess the extent of the available source of information and the not covered needs.
A more finished exercise with data for internal and external sectors will be completed by the end of this year.
Within the work plan of the Project of the change of base year 2008, is expected to expand the central framework of accounts by institutional sectors, including balance sheets annually.
México, preliminary data
S.1 Total economy
Series: 2002-2009
Stocks in millions of pesos
Total assets
Non financial assets
Financial assets
Financial liabilities
Net worth
2002 2003 2004 2005 2006 2007 2008 2009
21,771,627 27,401,683 32,141,367 38,060,073 48,041,963 56,543,445 58,511,383 61,883,826
9,909,003 11,304,620 12,857,755 14,558,589 16,158,693 18,142,119 19,176,562 22,909,560
11,862,596 16,097,007 19,283,612 23,501,484 31,883,271 38,401,168 39,334,662 38,974,107
15,577,901 20,539,275 24,663,264 29,833,972 39,089,542 46,565,578 47,606,519 49,147,859
6,193,725 6,862,409 7,478,103 8,226,100 8,952,421 9,977,867 10,904,864 12,735,966

Código
AF21
AF221
AF229
AF29
AF31
AF32
AF41
AF42
AF512
AF519
AF711
AF712
AF81
AF89
The approach of Balance sheet proposed by G20 considers some extensions to the scheme suggested by the SNA 2008. They are basically three items that need to be disclosed: domestic and foreign currency and remaining maturity in the instruments in long term for debt securities and loans, and foreign controlled non financial and other deposit-taking corporations.
In the preliminary exercise prepared it has been explored these extensions, the following table shows some of the results for domestic and foreign currency.
Stocks
RECURSOS
DINERO LEGAL
BANCOS
OTROS DEPÓSITOS TRASFERIBLES
OTROS DEPÓSITOS
VALORES DISTINTOS DE ACCIONES A
CORTO PLAZO
VALORES DISTINTOS DE ACCIONES A
LARGO PLAZO
PRÉSTAMOS A CORTO PLAZO
PRÉSTAMOS A LARGO PLAZO
ACCIONES NO COTIZADAS
OTRAS PARTICIPACIONES
OPCIONES
FORWARDS
CRÉDITOS Y ANTICIPOS COMERCIALES
OTRAS CUENTAS POR COBRAR, EXCEPTO
CRÉDITOS Y ANTICIPOS COMERCIALES
CLASE 522210. BANCA DE DESARROLLO
2007 MN
985,229,567
2007 ME
ADQUISICIONES
MN ME
-59,064,557
462,959
428,986
273,427
53,092,815
37,791,044
43,938
16,714,376
189,627
47,016
1,511
4,182,018
337 -267,563 8,599
10,957,440 -20,625,361 -2,368,309
1,527,308 -3,897,998 -958,013
44,901,206
302,689,686
280,364,757
4,444,034
0
108
224,774,834
7,216,389
3,260,066
2,774
74,181,078
1,612,466 -704,415
40,581,464 -2,774
50,779,674 11,078,398
453,699
0
593,551
0
172,601
0
0 -13 0
40,788,280 -132,490,189 -6,480,910
192,068 -299,615 64,634
26,758,282 143,569 4,715,614
REVALORIZACIONES
MN ME
4,869,007
0
0
0
0
0
0
0
0
0
0
0
0
0
21,894 5,116,214
0
0
0
0
0
0
0
0
0
0
0
0
0
2008 MN
931,034,017
2008 ME
652,586 45,449
476,002 20,896,394
5,864
32,467,454
8,936
8,589,131
33,893,046 569,295
46,513,672
343,271,150
331,144,431
5,037,585
0
95
92,284,645
6,916,774
2,555,651
0
256,702
36,590,110 165,463
Finally, the reviewing of source of data up to this moment indicates that there are some gaps in the external sector, some non banking intermediaries financial and topics related with the valuations that need to be solved in a integral framework.

The satellite account development in the framework of the MSNA has also been extended currently.
Annual updates of the System of Economic and Ecological Accounts and the
Tourism Satellite Account are routine activities. In addition, the following accounts have been developed in this year:
 Satellite Account of the Health Sector of Mexico
 Satellite Account of the Non Profit Institutions of Mexico
 Satellite Account of the Unpaid Work of Households of Mexico

The new mechanisms of operation in INEGI will allow the institutional interrelation necessary to promote an implementation in a coordinated manner with the institutions in charge to produce the Monetary and
Financial Statistics, Government Finance and Balance of
Payments.
It is recognized that only from a suitable level of communication and interinstitutional commitment it will be possible to obtain the implementation of the SNA
2008, in benefit of the national and international users of economic data, the interests of other statistical systems and of the own national accounts.

The MSNA is being updated constantly, looking for addressing a priority activity of the system of economic information of Mexico.
With implementation of a new base year in a framework of an integral work plan, that consider all the products and indicators, besides new prospects, the Office of national accounts of Mexico is looking for its consolidation in the regional and international context.
The constant objective is to update and strengthening of the central framework and its extensions.

Porque proporcionamos información para todos…
01 800 111 46 34 www.inegi.org.mx
atencion.usuarios@inegi.org.mx
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