International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD1
The Services Sector in the Philippine System of
National Accounts (PSNA)By
MARIA FE M. TALENTO Division Head, Economic Statistics Office
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD2
I. Current PSNA II. Scope/Coverage of the Services sector
III. Sources of Data IV. Estimation Methodology
V. Issues/Concerns
Outline of PresentationOutline of Presentation
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD3
Current PSNACurrent PSNA
Measurement of GDP: 3 approaches
• Production Approach, GDP (P)
• Expenditure Approach, GDP (E)
• Income Approach, GDP (I) (compiled annually)
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD4
Current PSNACurrent PSNA
• Quarterly & Annual estimates: the PSNA compilation uses the production & expenditure approaches
• Both sides of the accounts are estimated independently
• GDP growth rate is based on the production accounts
• Constant Price estimates: uses the fixed-based year method
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD5
Scope of the Services Scope of the Services sectorsector
• Transportation, Communications and Storage
- Land transport
- Water transport
- Air transport
- Storage and Services Incidental to Transport
- Communication• Trade
- Wholesale
- Retail• Finance
- Banks
- Non-banks
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD6
Scope of the Services Scope of the Services sectorsector
- Insurance• Ownership of Dwellings and Real Estate
- Ownership of Dwellings
- Real Estate• Private Services
- Educational
- Medical and Health
- Business
- Recreational
- Hotel and Restaurant
- Others• Government Services
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD7
Census/Surveys from National Statistics Office
- Census of Philippine Business & Industry
(CPBI)
- Annual Survey of Philippine Business
and Industry (ASPBI)
- Quarterly Survey of Philippine Business
and Industry (QSPBI)
- Quarterly Labor Force Survey (LFS)
Main Source of Data Main Source of Data
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD8
• Administrative-based data
Quarterly Financial Reports from - Securities and Exchange Commission
(SEC) for key players of the Services sectors
TCS:
- Department of Trade and Communications
(data on the Metro Rail Transit; Light Rail
Transit Authority, Philippine National
Railways; Megatren
Other Sources of Other Sources of Data Data
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD9
- Civil Aeronautics Board (for local airlines)
ODRE:
- National Disaster Coordinating Council
(report on Damages of totally destroyed
houses) indicator for housing reductions
- National Statistics Office
(approved building permits for residential
construction) indicator for housing additions
Administrative-based Administrative-based Data Data
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD10
FINANCE:
- Bangko Sentral ng Pilipinas
(consolidated income and expense
statements of all banks)
- Insurance Commission
(income and expense statements of private
life and non-life insurance companies)
- Commission on Audit (COA)
(financial reports of Government Financial
Corporations and the Government Service
Insurance System (GSIS)
Administrative-based Administrative-based Data Data
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD11
PRIVATE SERVICES:
- Department of Tourism
(hotel occupancy rate)
Administrative-based Administrative-based Data Data
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD12
GOVERNMENT SERVICES:
- Dept. of Budget and Management (actual cash disbursement; budget of expenditure
and sources of financing)-Quarterly
- Commission on Audit (annual financial report for national and local gov’t )
- Social Security System and the Government Service
Insurance System (GSIS)
(annual financial reports)
Administrative-based Administrative-based Data Data
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD13
• Industry Associations
Private Services:
- Business Processing Association of the Philippines (BPAP)
(data on revenues and employment of Business Processing Outsourcing (BPO) companies
• Report of Private Companies
- Revenue of Selected Fast-Food Chains
Other Sources of Other Sources of Data Data
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD14
Estimation MethodologyEstimation Methodology
(excluding Ownership of Dwellings & Gov’t services)
Annual Estimates: GVA at Current
1. Organized sector:
GVAO = GO – II
where: GO = Gross Output
II = Intermediate Input
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD15
Estimation MethodologyEstimation Methodology Annual Estimates : GVA at Current
2. Unorganized sector:
GVAU = GVAES * (ELFS - EASPBI)
where:
GVAES = GVA per employee of small establishments from
the ASPBI
ELFS = Number of employed persons from the
Labor Force Survey (LFS)
EASPBI = Number of employed persons from the ASPBI
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD16
Estimation MethodologyEstimation Methodology
Annual Estimates – GVA at Current Prices of Services:
GVAt = GVA Organized + Unorganized
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD17
-Single deflation using appropriate price indices by sector
Constant Price EstimationConstant Price Estimation
GVA K =
GVA k( O+U )
IPIN ij
where:
IPINij = IPIN i(j-1) x Inflation Rate
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD18
In the absence of annual surveys, use:
Extrapolation using output indicator (Gross Revenue from QSPBI) year-on-year growth
Current Price EstimationCurrent Price Estimation
GVAij = GVAi(j-1) x QSPBI(gr) ij
where:
i = ith quarter
j = jth year
QSPBI(gr) = Revenue ij / Revenue I(j-1)
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD19
TCS: CPI for transportation, CPI for communication and CPI for storage
Trade: Wholesale - Wholesale Price Index Retail - Retail Price Index
Finance, Real Estate and Private Services : - CPI all items
Constant Price EstimationConstant Price Estimation
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD20
Estimation MethodologyEstimation Methodology
Ownership of Dwellings:
Annual Estimates : starts at GVA Constant
GVAk = GVAk (previous year) * trend of Housing Stocks where:
Housing stock (in sq/m) = housing stock of the previous year + housing additions – housing reductions
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD21
Estimation MethodologyEstimation Methodology
Housing additions = housing additions of the
previous year * trend of the building permits
(floor area)
Housing reductions = number of totally damaged houses * 15 sq/m
(15 sq/m represents the average size of housing
units that are most susceptible to total damages)
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD22
Estimation MethodologyEstimation Methodology
Annual Estimates : GVA Current
GVAt = GVAk * IPINt
where:
IPINt = IPINt-1 * trend of CPI for rentals
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD23
Estimation MethodologyEstimation Methodology
Government Services:
Annual Estimates : GVA at Current
GVA = CE + CCA + IT where: CE = compensation of employees CCA = Depreciation IT = Indirect Taxes
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD24
Estimation MethodologyEstimation Methodology
Government Services:
Annual Estimates: GVA at Constant prices
GVAk = GVAt
average earnings index
where: average earnings index = total compensation divided by the number of gov’t employees
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD25
Issues/ConcernsIssues/Concerns
A. Data ProblemsA. Data Problems
• Time lag and consistency of survey resultsTime lag and consistency of survey results
B. Coverage IssueB. Coverage Issue
Emerging Industries Births and deaths of establishments
C. Measurement Problems (Methodological)C. Measurement Problems (Methodological)
• Measuring Quality ChangeMeasuring Quality Change the case of high technology servicesthe case of high technology services
International Workshop From Data to Accounts: Measuring Production in National Accounting Beijing, ChinaMFM Talento/ 8-10-June 2009
Republic of the PhilippinesNATIONAL STATISTICAL COORDINATION BOARD26
THANK YOUTHANK YOU