Brief
Implementation of the 2008 SNA:
Introductions
National Accounts
Compilation
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
NATIONAL ACCOUNTS COMPILATION
• GDP compiled annually and quarterly
Brief
• Direct link to ISIC 3.1; alignment with ISIC 4
Introductions
• COICOP and COFOG used
• CPC Ver.1
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
Brief
Implementation of the 2008 SNA:
Introductions
Current Plans and Relevant Issues
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
CURRENT PLANS AND RELEVANT ISSUES
• NSDS under development
Brief
• Training on 2008 SNA conceptual issues
Introductions
• Full adoption of ISIC Rev 4
• Business register details expanded
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
CURRENT PLANS AND RELEVANT ISSUES
• Existing surveys expanded - EAS
Brief
• Greater use of administrative data sources
Introductions
• Funding for staff
• Technical assistance – quarterly GDP
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
Brief
Implementation of the 2008 SNA:
Introductions
Scope and Detail of the National Accounts
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
SCOPE AND DETAIL OF THE NATIONAL ACCOUNTS
• Production accounts in current and constant prices
• Sequence of Accounts – Use of disposable income
• Gross national disposable income in current prices
• Supply and use tables 2004 and 2008 – current prices
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
SCOPE AND DETAIL OF THE NATIONAL ACCOUNTS
• Quarterly Balance of Payments - BPM6
methodology
• EBOPS classification implemented
• Quarterly GDP by expenditure approach
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
Brief
Implementation of the 2008 SNA:
Introductions
Short-term economic indicators
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
SHORT-TERM ECONOMIC INDICATORS
• Turnover indices
• CPI monthly
• Labour market indicators annually
• External sector indicators quarterly
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
SHORT-TERM ECONOMIC INDICATORS
• Financial sector indicators quarterly
• General government sector indicators monthly and
quarterly
• Non-financial corporate profits annually
• No data on real estate indicators, household sector
indicators and economic sentiment
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
Brief
Implementation of the 2008 SNA:
Introductions
Conceptual compliance
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
CONCEPTUAL COMPLIANCE
• GCF covers software, research and development,
databases and valuables
• Life and non-life insurance premiums include premium
supplements
• Reinvested earnings included in ROW account
• Government final consumption available by individual
and collective consumption
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
CONCEPTUAL COMPLIANCE
• FISIM not calculated using a reference rate of interest
• FISIM not allocated to users
• Chaining not used for volume calculations
• Own-account money lenders not included in output
• Output of households whether or not for sale not
comprehensively covered
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
Brief
Implementation of the 2008 SNA:
Introductions
Proposed actions and Policy challenges
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
PROPOSED ACTIONS AND POLICY CHALLENGES
Proposed actions
• Adoption of CARICOM 2008 SNA Implementation plan
• Establish a National Strategy for the Development of
Statistics
• Full adoption of ISIC 4 by 2014
• XPI and MPI to be developed for quarterly GDP
deflation
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
PROPOSED ACTIONS AND POLICY CHALLENGES
National Policy Challenges
• Reduce the government debt and control government
spending
• Job Creation
• Reduce the high cost of living
• Rejuvenation of tourism industry
UNSD Seminar – January 30th to February 1st 2013, Kingston, Jamaica
Thank you
Ron Farier
Economic Statistician