CARICOM
CARICOM
Status of Regional National Accounts
Database
• Joint collection of National Accounts statistics to
reduce response burden and ensure the same
datasets at both organisations.
• NAQ designed by the UNSD in cooperation with
the UN Regional Commissions and based on
the 1993 SNA.
CARICOM
Status of Regional National Accounts
Database
• NAQ divided into five parts:
 Main Aggregates
 Domestic Production by Industries
 Classifications of Expenditure According to
Purpose
 Integrated Economic Accounts
 Cross Classification of Gross Value Added by
Industries and Institutional Sectors
CARICOM
Status of Regional National Accounts
Database
• Member States are requested to submit
the following data to both the Secretariat
and UNSD:
 GDP by expenditure in current and constant
prices
 Value added by industries in current and
constant Prices
 Output, gross value added and fixed assets
by industries
 National Aggregates
CARICOM
Status of Regional National Accounts
Database
If possible, Member States should also
submit:
 Relations among product, income, savings
and net lending
 Rest of the World Account
CARICOM
Status of Regional National Accounts
Database
 8 Countries submitted NAQs
 6 Member States, 2 Associate Members
 10 countries outstanding
 4 countries met the deadline for submission
 Years for which data submitted:
 2009: 4 countries 2008: 3 countries 2007: 1 country
 5 countries reported having implemented 1993
SNA
CARICOM
Status of Regional National Accounts
Database
NAQ SUBMISSION
Year of
Year
No. of
No. of
Total NAQs
Despatch
of
Countries
Countries’
Submitted
Data
submitting
NAQs
NAQ by
Received
Deadline
After
Total No. of
Countries
Submitting Data
(Including from
other sources)
Deadline
2006
2005
5
11
16
18
2007
2006
3
12
15
18
2008
2007
9
3
12
18
2009
2008
4
4
8
12
CARICOM
Main Challenges in the Submission of
Data
Number of Countries Submitting Table
Table Name
2008 (out of 12
Countries)
2009 (out of 8
Countries)
Rest of the World Account
1*
2*
GDP by expenditure in constant prices
2
1
Output, gross value added and fixed
assets by industries
5*
4*
Value added by industries in constant
prices
9
8
National Aggregates
9
5
Value added by industries in current
prices
10
8
GDP by expenditure in current prices
11
6
CARICOM
Main Challenges in the Submission of
Data
 Inability of countries to provide the complete set
of Minimum Required Data Set (MRDS) tables.
 Only 4 Member States attempted to complete 5 or
more tables
 The problematic tables seem to be:
 Rest of the World Account;
 GDP by Expenditure in constant prices; and
 Output, gross value added and fixed assets by
industries.
CARICOM
Main Challenges in the Submission of
Data
 Partial updates/revisions/missing data
 Discrepancies between totals and the sum of the
components.
 Brief Methodology notes
CARICOM
Production of Quarterly GDP.
 4 countries produce Quarterly GDP:




Belize
Dominica
Jamaica
Bermuda
 Only Jamaica produces QGDP in both absolute
values and growth rates in current and constant
prices
 Data from 2 of these countries are available to
the public
CARICOM
Main Challenges in the Production of
Quarterly GDP.
 Lack of expertise
 Data collection issues
 No system for estimation
 Lack of capacity
 Human resource constraints.
CARICOM
Other Areas of National Accounts
Supply and Use Tables (SUT)
 4 MS were at different stages of preparation
 Countries have benefited from technical assistance
Tourism Satellite Accounts
 Developmental work undertaken in 4 MS
 Technical Assistance will continue under the CISP
through the work of a consultant.
Future work will be linked to the Basic Data Production
Project
CARICOM
CARICOM ECONOMIC
STATISTICS ACTION PLAN
(CESAP)
2011-2015
Reviewed by the Technical Working Group on National
Accounts/Short-term Economic Indicators and International
Trade in Services/Investment Statistics
CARICOM
Preparatory work for ISIC Rev. 4
implementation and survey redesign
and improvement
– Develop regional standards and
classifications
– Integrate survey approaches and
instruments
– Coordinate with the Population Census
team to ensure that the needs for
economic statistics are being met
CARICOM
Preparatory work for ISIC 4
implementation and survey redesign
and improvement Cont.
– Use regional best practices to review
the Business Register
– Review and evaluate potential data
sources for economic statistics
– Update inventory of surveys and
suitable administrative record sources.
CARICOM
Preparatory work for ISIC 4
implementation and survey redesign and
improvement Cont.
– Establish a data collection and analysis
programme for economic statistics distinct from
the work on the national accounts.
– Review and adopt integrated questionnaires for
the “formal” sector surveys.
• Based on ISIC 4 structures and
• Incorporating product information classified according
to the CPC
– Design and institute appropriate data
transmission and update formats and procedures
CARICOM
Document and consolidate
estimates for the pre-2010 period
and develop and update metadata
• Prepare documentation and metadata for the
revised and rebased national accounts
estimates for the pre-2010 period.
• Integrate the submissions from member and
associate member states into the CARICOM
statistical data base and develop userfriendly access to the results.
• Document existing tourism statistics
estimates and prepare inventory and
metadata.
Improve the production of National
Accounts continuing the
CARICOM
development work commenced in
previous period
• Develop price index/deflator
• Develop Quarterly National Accounts in
Members States not currently producing
such
• Complete work on SUT estimation where
started
CARICOM
Analyse and evaluate new data
The CSOs will be required to:
• Analyse and evaluate
– data from population census to be used in
economic statistics
– new data from administrative records
– new data from other sources
CARICOM
Monitor progress and adherence
to time frame
• Institute a program of reporting and
monitoring that feeds through the TWG
and Secretariat to the SCCS.
• Institute a mechanism to ensure that steps
are taken to rectify any problems or
bottlenecks whenever possible and/or
amend schedules accordingly.
CARICOM
CARICOM ECONOMIC
STATISTICS ACTION PLAN
(CESAP) 2013-2015
• Continue the Activities started under the 2011 -2012 work
programme
• Complete revision
– Of Business Register
– on establishment survey frames
• Complete and disseminate
– TSA
– SUT (to be used as benchmark for national accounts)
• Continue with price index development
• Develop and implement a system of data quality
assessment for economic statistics with in each country
in the region
CARICOM
Thank You