NESDB THAILAND International workshop on measuring GDP by final demand approach 25-27 April 2011, Shenzhen, China Outlines Overview Definition & coverage Method & adjustments Classification & data sources 2 Overview The System of National Accounts of Thailand The components of GDP on expenditure approach GDP = C + I + G + (X-M) 3 Balance sheet of National Income at current prices STRUCTURE (%) 2005 2006 2007 2008 2009p Private Consumption Expenditure 57.2 55.8 53.4 55.1 55.2 General Government Consumption Expenditure 11.9 11.8 12.2 12.3 13.4 Gross Fixed Capital Formation 28.9 28.1 26.4 27.4 24.1 2.5 0.2 0.0 1.7 -2.9 73.6 73.6 73.4 76.4 68.4 Exports of Goods 62.1 61.7 61.1 64.2 57.0 Exports of Services 11.4 12.0 12.3 12.2 11.3 74.7 70.2 65.0 73.9 57.8 66.7 61.2 56.0 64.4 49.6 8.0 8.9 9.0 9.5 8.2 99.5 99.4 100.4 99.1 100.4 0.5 0.6 -0.4 0.9 -0.4 100.0 100.0 100.0 100.0 100.0 Change in Inventories Plus : Exports of Goods and Services Less : Imports of Goods and Services Imports of Goods Imports of Services Expenditure on Gross Domestic Product Plus : Statistical Discrepancy Gross Domestic Product, (GDP) 4 Definition & coverage Definition: Transactions involving movements of goods and services out off or into the country over a specific time period 5 Definition & coverage Goods at f.o.b. Export Services receipts Net export (NX) Goods at c.i.f. Import Services payments Net export (NX) = Export (X) – Import (M) 6 Definition & coverage Export and import of goods and services from Balance of Payments: Goods and services account Goods : all categories of goods pass through customs formalities and data adjustment for Balance of Payments basis Value of export of goods at f.o.b. Value of import of goods at c.i.f. 7 Definition & coverage Services Export of services = Services receipts Import of services = Services payments Services include: o Transportation o Travel o Government services n.i.e. o Other services e.g. communication services, construction services, royalties and license fees, insurances services, etc. 8 9 Method & some adjustments SNA : use the same figures as in current account statistics Customs Dep. Figures Adjusted for Balance of Payments 10 Method & some adjustments BOP adjustment made to the Customs data include: • Exclusion e.g. goods under diplomatic • • privilege, rented items, sample goods, personal belongings and used furniture Inclusion e.g. satellite, some military goods, electricity from neighboring countries Other adjustments such as time of recording and exchange rate 11 Method & Some adjustments SNA adjustment made to import of services: • Deduction of compensation of employees from services payments (other services) Estimation of import and export of goods and services at constant prices in SNA 12 Classification and data sources Classification HS vs CPC, ISIC, COICOP Sources of data Bank of Thailand, Customs Department, Ministry of Commerce 13 THANK YOU www.nesdb.go.th 14