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 CARICOM

NAQ SUBMISSION

Year of

Despatch

Year

of

Data

No. of

Countries

submitting

NAQ by

Deadline

No. of

Countries’

NAQs

Received

After

Deadline

Total NAQs

Submitted

Total No. of

Countries

Submitting Data

(Including from

other sources)

2006 2005 5 11 16 18

2007 2006 3 12 15 18

2008 2007 9 3 12 18

2009 2008 4 4 8 12

Main Challenges in the Submission of Data CARICOM

Table Name

Number of Countries Submitting Table

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

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 user-friendly access to the results.

• Document existing tourism statistics estimates and prepare inventory and metadata.

CARICOM

Improve the production of National Accounts continuing the

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

CARICOM